Some Thoughts on IT Workforce Risks

Looking for another reason to worry about the long-term success of your compliance, audit, or risk management efforts? Fear not! A recent report on workforce development in cybersecurity paints a stark picture of just how challenging it is these days to build and maintain a good team.  The report comes from ISACA, the professional association…

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Citigroup Internal Audit Hiring Spree

hiring

Citigroup announced today that it plans to hire at least 100 additional internal auditors  next year, one of the largest single hiring sprees we’ve seen in the field in years. If any audit professionals out there like the banking sector and want a change of pace, here’s your big chance.  Citi already has more than…

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Grappling With Artificial Intelligence

AI

Later this week I’ll have the privilege to moderate a panel discussion on artificial intelligence at the Society of Corporate Compliance & Ethics’ 2021 conference — and as fate would have it, COSO published guidance last week on the risk management challenges around AI. So let’s dig into the subject, since clearly the universe is…

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Portrait of Internal Audit Teams, Squeezed

audit

We have two new reports this week on the predicament of internal audit functions, trapped between the need to provide better risk analysis during the pandemic and corporate overlords a bit less than willing to fund your need for better technologies. The first report came from research firm Gartner on Wednesday, and found that for…

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A Tale: Audit vs. Compliance

My phone rang the other day; it was the U.S. compliance officer at a large global business whom I know quite well. “Hey,” he said, “you know the statistic that more than half of internal audit people have felt pressure to cover up awkward findings in their work? I have a complaint about that.” I…

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Fiat’s Lessons in Audits, Disclosure

Fiat

Sometimes an enforcement action cuts across numerous branches of governance failure, to offer lessons for all manner of risk assurance professionals. Such a thing happened last week, when Fiat Chrysler agreed to pay $9.5 million to settle charges that it wasn’t honest with investors about an investigation into auto-emissions cheating devices. What we have, according…

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SOX Compliance Struggles Onward

sox

SOX compliance professionals trying to find your place in the world may want to read the latest survey from the SOX Professionals Group. It’s full of benchmarking statistics about the challenges of Sarbanes-Oxley compliance this year and the technologies compliance teams are eyeing to get the job done.  The report, “2020 State of SOX &…

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IIA Unveils New Three Lines Model

independence

The Institute of Internal Auditors has unveiled a revamped version of its famed Three Lines of Defense model for risk assurance. Perhaps the most notable change: no longer calling it the Three Lines of Defense.  Instead, the IIA guide is now officially known as “The Three Lines Model” — a nod to criticism over the…

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Report: How Covid Is Changing Internal Audit

audit

The internal audit world is bracing for big change thanks to Covid-19: tighter budgets, more risk assessments, changes to the audit plan, and — like so many others these days — lots of working from home.  So says a special report published by the Institute of Internal Auditors on Monday, based on a survey of…

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Covid-19 Fraud Risks Already Soaring

fraud

Well this is just great: a new report finds that fraud is rising across Corporate America, as cyber thieves and scam artists try to take advantage of the confusion spawned by companies responding to the Covid-19 crisis.  The report, published by the Association of Certified Fraud Examiners on Tuesday, surveyed more than 1,800 anti-fraud professionals…

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