July 29, 2021
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Top News
The self-study IT General Controls Certificate Program has debuted from The IIA to help internal auditors address 12 topics. "Technology plays such an important role in business operations, from the challenges it presents each day to the opportunities it offers for future success," says IIA President and CEO Anthony Pugliese, who notes "it's crucial that internal auditors increase their skills to better engage and understand the impacts of technology."
Full Story: Accounting Today (free registration) (7/22) 
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How Internal Audit Can Fast4WARD to the Future
Internal Audit has a unique opportunity to transform and demonstrate how, as a function, it can be wise and risk conscious, agile, resilient, and digital in terms of its tools and thinking. By adopting this approach and way of thinking, Internal Audit can help lead and provide value to the organization. Learn more.
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Internal Audit Watch
Colo. audit looks at Rx-monitoring rules compliance
(James Yarema/Unsplash)
Colorado's prescription drug monitoring program, which tracks and monitors prescriptions of controlled substances, is doing little to prevent doctor shopping, according to the Office of the State Auditor. The audit found most pharmacies don't submit data within one business day as required, the PDMP database isn't being used to identify overprescribing or to refer suspicious prescribers and pharmacies to law enforcement officials, and the system doesn't track queries for second prescriptions.
Full Story: KOAA-TV (Colorado Springs, Colo.) (7/22) 
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#IAm Bonnie Tse
Tse (The IIA)
Mentors have played a big part in Bonnie Tse's internal audit career, and she is paying it forward. Tse's mentors helped "focus my ambitions," she writes in this month's #IAm blog post. Now the T-Mobile internal audit manager and 2020 Internal Auditor Emerging Leader helps coordinate The IIA's Emerging Leaders Mentoring Program, which matches internal auditors with experienced mentors from the profession.
Full Story: Internal Auditor (7/29) 
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eBook: Sprinting Ahead With Agile Audit
To keep up with tomorrow's unpredictable risk landscape, internal auditors need to be flexible, adaptive, and fast. Auditors are turning to agile methodology as a strategic way to increase efficiency and effectiveness. Discover the benefits, challenges, and best ways to implement agile audit in your organization. Download your copy >>
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Risk & Compliance
Almost two-thirds of businesses surveyed report they are not "completely compliant" with all regulations, such as the California Consumer Privacy Act and Europe's extensive laws, Pathwire reports. It costs money to comply, but "[n]on-compliant organizations face high penalties from data privacy regulators, regardless of where they're based," says Maylis de Bazelaire of Pathwire.
Full Story: MediaPost Communications (free registration) (7/21) 
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Releasing more data does not necessarily clarify a company's environmental, social and governance performance, research suggests. Instead, the release of more data is correlated with increased variation in ESG scores across ratings providers, a paper found.
Full Story: Harvard Business School Working Knowledge (7/21) 
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Many companies have compartmentalized risk into silos, which can lead to vulnerability. This article describes three steps companies can take to integrate compliance and risk management.
Full Story: Forbes (tiered subscription model) (7/21) 
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Checklist: Designing a Collaborative ERM Process
Collaboration is key to successful enterprise risk management — and leaders can help establish a collaborative culture from the top. A new checklist offers tips for building a strategic ERM process that brings teams and stakeholders together. Download your copy of the five-step checklist today.
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Fraud & Ethics
A federal jury has found former Georgia Insurance Commissioner Jim Beck guilty of 37 counts of fraud and money laundering. Beck was indicted in 2019 on charges that he embezzled more than $2 million from the Georgia Underwriting Association when he was employed there, and John King became interim insurance commissioner after the charges led to Beck's suspension.
Full Story: Business Insurance (tiered subscription model) (7/23),  The Atlanta Journal-Constitution (7/24) 
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A Call to Action on the Three Lines Model
Shifting risk landscapes call for a shift in perspective. By encouraging coordination and alignment, The IIA's recently updated Three Lines Model can help alleviate some risk management challenges by empowering risk and control functions to fill in gaps, cut out overlaps, and actively contribute toward value creation for their organization. Learn more.
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Technology
Big data collected from cell phones to track local resident traffic patterns can support real-time evaluation of how well a community recovers from disasters. Researchers at Texas A&M University who compiled such data after Hurricane Harvey have produced a framework that can be applied in the aftermath of any other natural disaster.
Full Story: Texas A&M University (College Station) (7/22) 
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Remote and hybrid work arrangements have highlighted cybersecurity vulnerabilities related to videoconferencing and virtual private networks, writes Yakir Golan, CEO of Kovrr. Use of multifactor authentication has increased, but in certain cases this security technique might be vulnerable to brute-force attacks or social engineering, Golan writes.
Full Story: PropertyCasualty360 (free registration) (7/22) 
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NEW CIA Exam Prep System
All-new and redesigned, The IIA's CIA Learning System was updated to provide the most personalized, flexible, and efficient study experience for express, exam day success. It remains the only CIA exam preparation program that aligns The IIA's professional knowledge, training, and certification expertise. Take it personally, pass it efficiently.
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Professional Development
Studies of professional athletes and how rest -- or lack thereof -- affects their performance and likelihood of injury could suggest a different way to think about well-being, writes Dr. Amitha Kalaichandran. Beyond the idea of self-care, "true well-being and healing may rely more often on 'not' doing something -- over-exerting, overperforming, and overworking -- as opposed to 'adding' another trendy 'wellness' element to our routines," Kalaichandran writes.
Full Story: Medium (tiered subscription model) (7/13) 
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Choose Your Path to the GRC Conference 2021!
We're excited to offer individuals the option to join us virtually or in-person in Denver, CO for this year's conference. Discover the latest insights, participate in workshops, network with fellow professionals, and find inspiration no matter where you are! Register today.
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IIA News
Provide indispensable input on the IPPF
The Internal Audit Foundation is conducting a crucial global research project. You can help build a global view of the practice of the profession and ensure the continued applicability and effectiveness of the IPPF and Standards by completing the Assessing Internal Audit Practices survey. Take the survey.
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2021 Financial Services Exchange: The new normal, post pandemic
This year's Exchange will cover a variety of topics and risks affecting financial services, from ESG reporting to exploring next-generation strategies, to being more agile with ever-evolving risk, and more. Secure your in-person or virtual spot.
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LEARN MORE ABOUT IIA:
COVID-19 Resource Exchange
If the ends don't justify the means, then what does?
Bob Moses,
civil rights activist, educator
1935-2021
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About The Institute of Internal Auditors
The Institute of Internal Auditors (IIA) is the internal audit profession's most widely recognized advocate, educator, and provider of standards, guidance, and certifications. Established in 1941, The IIA today serves more than 200,000 members from more than 170 countries and territories. The association's global headquarters are in Lake Mary, Fla. For more information, visit www.theiia.org.
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