May 2026

theauditexplainer.wordpress.com · Jan 21, 2025 · Curated 1 month ago

Beyond the Checklist: How Informal Observations Can Drive Audit Value and Build Relationships

This article highlights the often-overlooked value of an auditor's informal observations outside of official engagements. It argues that a proactive, relationship-building approach to addressing minor issues, even those seemingly outside the audit scope, can foster trust, uncover deeper systemic problems, and ultimately enhance the internal audit function's strategic impact within the organization. For audit professionals, this emphasizes the importance of continuous vigilance and a commitment to adding value beyond formal reporting.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Jan 14, 2025 · Curated 1 month ago

Stop Fighting Over Audit Report Templates: Focus on Recipient Needs

Internal audit departments often waste valuable time debating audit report templates internally. This article emphasizes that the only opinions that truly matter regarding report format and content are those of the report recipients. Audit professionals should prioritize understanding stakeholder needs to ensure reports are perceived as valuable assets, not just something to be endured.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Nov 26, 2024 · Curated 1 month ago

Agility in Internal Audit: Balancing Strategic Planning with Flexible Execution

This article addresses the common misconception that annual audit plans are antithetical to agile auditing. It argues that a high-level strategic plan is crucial for aligning internal audit with organizational objectives, while true agility lies in the flexible execution and prioritization of audit activities within that framework. Audit professionals should focus on delivering strategic value by adapting their approach to specific projects and continuously prioritizing efforts for maximum impact.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Nov 19, 2024 · Curated 1 month ago

Auditors: Tailor Your Root Cause Analysis to Your Audience

This article emphasizes that effective root cause analysis in internal audit is less about a precise definition and more about practical application, specifically tailoring the depth of analysis to the audience's ability to act. Auditors should focus on providing actionable insights that align with the scope and responsibilities of the management receiving the report, rather than pursuing an arbitrarily deep investigation.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Nov 12, 2024 · Curated 1 month ago

Strategic vs. Conformance: Navigating Internal Audit's Evolving Role

This article explores the tension between internal audit's traditional compliance-focused activities and the growing demand for strategic engagement. It challenges the notion that compliance auditing is inherently "traditional" and argues that while foundational, it should not be the sole focus for mature audit functions. Audit professionals are encouraged to move beyond mere conformance to standards and cultivate critical thinking and value-adding skills to become more strategic partners within their organizations.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Nov 5, 2024 · Curated 1 month ago

Navigating Disagreement: A Four-Checkpoint Approach to Audit Finding Resolution

This article provides internal auditors with a practical framework for resolving disagreements with management over audit findings and recommendations. It outlines a four-checkpoint process, emphasizing the importance of establishing factual agreement, confirming the problem's existence, identifying root causes, and collaboratively developing remedial actions. The piece underscores that while management agreement is ideal, it should not compromise professional responsibilities, offering guidance on escalating impasses and maintaining professional integrity.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Oct 28, 2024 · Curated 1 month ago

Clarifying Roles: Internal Audit and Compliance in the Three Lines Model

This article clarifies the distinct roles of Internal Audit and Compliance within an organization, particularly in the context of the Three Lines Model. It emphasizes that while both functions are crucial, their responsibilities are separate, preventing overlap and fostering a more effective governance structure. For audit professionals, understanding this distinction is vital for designing appropriate audit scopes and ensuring comprehensive assurance without duplicating efforts.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Oct 22, 2024 · Curated 1 month ago

The Audit Explainer: Why Auditors Should Avoid Declaring Controls 'Effective'

This article challenges the common audit practice of concluding that "controls are effective." It argues that such a statement overstates assurance, relies on faulty inductive reasoning, and overlooks other critical factors contributing to operational success. For internal audit and assurance professionals, this piece is a crucial reminder to be precise in reporting, avoid implying certainty where none exists, and recognize the multifaceted nature of organizational resilience beyond formal controls.

News & Blogs · Global Read more

theauditexplainer.wordpress.com · Oct 15, 2024 · Curated 1 month ago

Internal Audit's Role in SOX: Balancing Compliance and Strategic Value

This article explores the nuanced role of internal audit in Sarbanes-Oxley (SOX) compliance, addressing whether internal audit should be involved in SOX testing. It clarifies the distinct responsibilities of executive management and external auditors, while identifying potential areas where internal audit can contribute. The piece emphasizes that while internal audit can perform SOX control validation, it's crucial to consider the strategic implications and explore ways to integrate SOX testing with broader audit objectives to maximize value.

News & Blogs · Global Read more

riskoversight.ca · Mar 24, 2026 · Curated 1 month ago

Working Papers: The Enduring Foundation of Internal Controls in the Age of AI

This article emphasizes that despite advancements in AI, fundamental working paper practices remain critical for robust internal controls and audit quality. Internal audit and assurance professionals should focus on ensuring working papers reflect a deep understanding of underlying transactions, clear documentation of steps, timely review, and strong ties to supporting evidence. Neglecting these basics, even with sophisticated tools, can lead to significant control deficiencies and increased risk.

News & Blogs · Global Read more