Conversations with Colleagues

Raddad Ayoub & Indumon Das  EY’s Risk Analytics leadership team explain data analytics and how it is positively impacting both companies and the internal audit profession In an exclusive interview, Internal Auditor – Middle East spoke to Raddad Ayoub and Indumon Das from EY’s  Advisory teams in the EMEIA  and the Middle East respectively.  Raddad…

Information Technology General Controls: The Basics

General controls are defined by COBIT as controls, other than application controls, that relate to the environment within which computer-based application systems are developed, maintained and operated, and that is therefore applicable to all applications (ISACA Glossary,2014). These controls include policies, procedures and practices (tasks and activities) established by management to provide reasonable assurance that…

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The ABCs Assessing Baseline Control Arrangements

Football fans across the world have been stunned over the last year with news of arrests for alleged wrongdoing by officials from soccer’s global governing body, FIFA (Federation Internationale de Football Association). Allegations of “rampant,systemic, and deep-rooted corruption” along similar lines to FIFA will potentially have much longer-term negative consequences for entities, their leadership cohort, and the brand as a whole. The FIFA…

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Is Your Company Prepared to Establish an ERM Function?

Organizational maturity level is a key factor to consider prior to implementing an Enterprise Risk Management (ERM) program and is also critical to decide on the best approach to position an ERM function within any organization organizational maturity level is important to plan a risk management road map, ERM functional reporting structure and helps design ERM implementation stages to embed risk management in…

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Root Cause Analysis for Internal Audit

By proactively applying Root Cause Analysis internal auditors can get to the heart of issues that they are auditing and add greater value to their organizations. Over the past 15 years working in the internal audit arena I have seen a growing interest in the topic of Root Cause Analysis (RCA). My involvement in the topic has evolved from using it…

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Accounting Scandals Revisited

A former auditor looks to the accounting frauds of the past and examines whether the present is any different. Once upon a time I was an auditor with Andersen in Dubai.I had joined in December 2000.Exactly two years later and my career and that of tens of thousands of others worldwide was in serious danger because of what had happened thousands…

Risks Affecting the Objectivity of Internal Auditors

Objectivity, efficiency and due professional care are all significant factors for the successful work of any internal auditor. Yet, the factor that mostly affects the effectiveness of internal auditing and the achievement of required results is the objectivity of internal auditors. Objectivity is a basic characteristic and a corner stone that should characterize any person…

Maintenance : the backbone of maximizing manufacturing investment

Manufacturing companies make substantial investments in plant, machinery and equipment. The investment decision requires assessment of business need, detailed requirements, production volume, the investment amount, source of funding and payback period. Progressive enhancement of engineering and technology means equipment has become increasingly complex to maintain. An important consideration for companies is getting the maximum return…