The Annual Education Plan includes:
Future State of Internal Audit
What will an internal audit look like in 2025? In this event, we will explore three areas that are the most likely to change in the next few years: freelance auditing, agile auditing, and reliance on the other lines of defense.
Would You Recognize Fraud?
Auditors are rarely prepared to find fraud. We are not trained to look for fraud actively, and we only have basic exposure to fraud red flags. Yet, most organizations expect us to find fraud. So how do we meet these expectations? We learn fraud awareness!
Time For A New Fraud Triangle
The Fraud Triangle has been the basis for most fraud evaluations for almost 70 years. With so much change in technology, business, and society, it is time for us to revisit the model to see what changes may be needed for our modern environment.
Hybrid Auditing - Balancing Remote Work
So how do you audit inventory remotely? You probably don't. As we settle into the new normal, it's time to talk about balancing remote work with the audits and tasks better when done in person.
Fraud Story Time
Not all fraud cases make history, but these are no less important. As auditors and fraud examiners, we need to review the more common (and often more interesting!) fraud cases, so we know what to look for in the field. The stories are fascinating, and the way these were uncovered is critical. Grab some popcorn and join us for Fraud Story Time!
What COVID-19 Taught Us About Risk Velocity
Impact, Likelihood, and Velocity are the three most common risk metrics we use in our assessments. Until now, I never fully grasped the meaning and importance of risk velocity. Among the many lessons learned from COVID-19, risk velocity might be one of the most critical risks, especially in emerging risks.
Auditing in a Time of Crisis
The COVID-19 pandemic is truly a humbling experience. With school closures, social distancing, isolation, and business interruption experienced globally, we have a unique opportunity to observe how our organizations react and behave in this time of crisis. As auditors and fraud examiners, I'm asking us all to take a step back and consider what these reactions tell us about the organization's culture.
No More Audit Reports
Can you imagine auditing without having to deal with issuing time-consuming audit reports? The truth is you don't need to write a report. The Standards never actually required us to do any writing. In this presentation, we will discuss modern alternatives to the formal reporting we have all dreaded. You will understand what we must communicate during an audit and a better way to get it done.
Stop Auditing Useless Controls
Sometimes we test controls that don't matter. Designing adequate internal controls can be a challenge, especially with the current pace of change. A well-designed internal control system requires us to use judgment when assessing control effectiveness, and we need to understand when a control does not address the risks, so we don't waste time.
Overcome Your Fear of Data
The presentation is designed to help auditors and fraud examiners bridge the gap between data analytic theory and application. This presentation aims to discuss the actual world application of using simple data analytics to save time, improve efficiency, reduce risk exposure, add value, motivate team members, comply with best practices, detect potential fraud, and create new opportunities.
Next Level Audit Committee Reporting
You've gathered lots of data from your audit processes, but now you need to use the data to tell a story to your audit committee. Designing these presentations is critical for leading audit departments. To help audit leaders successfully develop compelling presentations, we will review the results of the surveys from The IIA to ensure we are meeting the audit committee's expectations. We will share trends, best practices, critical success factors, and tips for including the most relevant data. The presenter will then provide real-world examples showing how to use data to create trending reports and data analysis for inclusion in audit committee presentations using tools you already have like Excel and PowerPoint.
Is Your Risk Assessment Too Complex?
For our risk assessments, we combine subjective measures with past audit results and data from different systems. Then we tack on hours of interviews with management that only adds more subjectivity. When I push deeper and ask who designed this risk assessment process, very few auditors can answer. Usually, it's someone who left the organization years before or an external consultant who recommended the approach. When it takes so much effort to complete the assessment that it takes away from the actual audits that we could be working on, is it time to admit that our risk assessment process is just too complicated?
Incorporating Fraud Detection into Every Audit
Internal auditors are required to have an essential awareness of fraud schemes and red flags. Often, we overlook apparent red flags due to a lack of training in testing techniques, or we have bought into the phrase "you can't test for fraud." In reality, there are many tests that you can perform that would raise a red flag. We also downplay the power of conversation. The most vital tool in your kit for uncovering fraud might be a cup of coffee.
Ethical Dilemmas in Issue Writing
Internal auditors are supposed to remain independent from the organization in which they work. We usually do this by establishing reporting lines directly to an audit committee, but the reality is that we still work in this organization. We still must ride the elevator with coworkers in other departments, and we still get paid for working at our jobs. Because of the unique position, we often face an ethical dilemma at the end of every audit. Management wants to issue a "clean" report, while auditors need to report unbiased facts highlighting the organization's risks. In the end, we must decide if we will keep our reports intact or bend to pressure from management to sanitize the language before it gets to senior leadership.
Creating Reports People Actually Want to Read
Your report is boring, and no one wants to read it! Internal auditors spend weeks performing an audit, but in the end, others only see the audit report. It is time to rethink the format you have been using. Are you including meaningful content, visuals, and an overall theme? The last thing we want to hear is that the report was boring. In this presentation, we will tear apart standard report templates and make these better!
Audit Risk and Control: A Lesson on Reliance
The focus on coordinating efforts among the Three Lines of Defense has been a common conversation point for several years. Based on the most recent update to the IIA Standards, we should consider combining our efforts in audit planning and audit committee reporting in order "to ensure proper coverage and minimize duplication of effort" (IIA Standard 2050). But how exactly can we do this? It's not as simple as just claiming to rely on the work performed by other groups. The responsibility falls on our teams to review the quality of the work done by other assurance teams and then hold them accountable for their work to rely on them.
Audit Culture Re-Imagined
The IIA regularly publishes guidance on skills we all need to be competent and proficient auditors. They do this because the skills we need are constantly shifting. We are required to keep up with technical skills and soft skills. If we work together as a team, we can help each other gain the skill and confidence we need to achieve success!
Accounting Bias in Internal Audit
We will discuss the impact of hiring accounting and finance professionals for most internal audit staff. The lack of diversity in education and professional experience leads to a critical point in Internal Audit that could undermine our careers, eliminate internal audits, and expose organizations to unmitigated risk. The discussion will include a look at the proposed changes to the Three Lines of Defense model.
Five Fraud Cases You Need to Know
"Those who cannot remember the past are doomed to repeat it."
We will review five recent fraud cases to understand the scheme and how it was discovered. As auditors and fraud examiners, we need to review the more common (and often more interesting!) fraud cases, so we know what to look for in the field. The stories are fascinating, and the way these were uncovered is critical.
Capturing Emerging Risks in Your Risk Assessment
Impact, Likelihood, and Velocity are the three most common risk metrics we use in our assessments. Among the many lessons learned from COVID-19, risk velocity, especially in emerging risks, may be one of the most important. Emerging risks often catch us off guard, and these can spread through an organization with fantastic speed.
Introduction to Agile Audit
The way we've been auditing is NOT going to work any longer. It's time for us all to embrace an updated audit methodology: Agile Auditing. With this method, the audit department responds to risks timelier, partners closely with the organization, and adopts a continuous quality and improvement mindset.
Are Certifications Worth the Effort?
Working on an audit certification is stressful, time-consuming, and expensive, but is it worth the effort? This presentation breaks down the most common certifications by cost, effort, and potential benefits so you can make the right decision for yourself.
Top 5 Risks for 2021
The risk landscape changes constantly, and we must remain vigilant as auditors if we stay ahead of the curve. The top risks for 2021 have been impacted heavily by the pandemic, and each of the risks we will cover has a ripple effect as we explore the interrelated aspects of these risks.
IT Auditing for Non-IT Auditors
It's impossible to avoid technology. In any modern organization, all auditors have a responsibility to understand a basic level of IT auditing. The good news is that we can apply auditing basics to the field of IT auditing right now. The goal of this session is to increase your comfort level when approaching IT audits.