The Evolution & Importance of Internal Audit

At the beginning, when companies started noticing an increased rate of Fraud incident as result of lack of attention to the control environment and the weak design and effectiveness of internal controls in the organizations, it was really necessary to create “audit fieldwork” in the private and public sectors. Previously, the audit concept was difficult to comprehend as it was viewed…

Corporate Governance … Company Life Cycle

Corporate governance is an integrated culture and work approach which is not simply an adherence to a set of rules and can not to be interpreted narrowly and literally. Corporate governance is a culture that must stem from the company itself and commensurate with it. For each stage of company life cycle, a governance system…

Richard Chambers The President and CEO of The Institute of Internal Auditors shares his thoughts on the future of internal auditing

In an exclusive interview, Internal Auditor Middle East connected with Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, the President and CEO of The Institute of Internal Auditors (IIA) globally.  Since assuming leadership of the IIA, Richard has led The IIA to achieve record membership and has presided over the launch of several strategic initiatives.  Previously,…

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Improving Internal Audit Performance through Strategic Planning

Developing a strategic internal audit plan not only improves internal audit’s alignment to business objectives, it also ensures that the internal audit department remains relevant. Introduction If you were doing an audit of an organization’s governance processes or an audit of a subsidiary and discovered that their strategic planning process had significant gaps or was none existent, would this be…

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Green Internal Audit

“Green” is a description of all that is concerned with protecting the environment and supporting sustainable development. This description has been used to show that organizations are concerned with environment and support sustainable development. They also adopt goals, policies and action procedures to achieve that. Examples of using “Green” description include green marketing, green technology,…

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The most common mistakes in audit committees’ work

The existence of an audit committee is one of the main characteristics of implementing the rules of good governance, as this committee establishes a culture of commitment and accountability within any organization, regardless of the nature of its activity or size, by providing reasonable assurance about the efficiency and effectiveness of internal control systems and…

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Recognizing Internal Audit Contributions

IA professionals have been advocating and proclaiming value additions by IA for decades. However, periodic reminders are required for management and other stakeholders regarding the same. The IA processes, approach, techniques and styles have underdone change over a period of time and even definition of IA has changed. The changes were pertinent to keep pace…

Cloud Computing

  The world is moving from onsite to offsite computing and storage, which is commonly known as cloud computing. The question arises: ‘What is cloud?’ Cloud is just a metaphor for the internet. In a survey conducted by GT (Grand Thornton LLP, 2014), 43% of Chief Audit Executives (CAEs) responded that they haven’t really given…