What businesses will expect internal audits to deliver in 2019 | Report: 40% of CAEs believe they have an impact on business | Restructuring would strengthen Ghana's internal audit function
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20 November 2018
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Internal Audit Watch
What businesses will expect internal audits to deliver in 2019
The global economy is changing at a rapid pace, placing more pressure on the internal audit function, says Mazars' Matt Dalton. As a result, businesses will expect five key deliverables from internal audit next year, including business strategy alignment and the effective use of tools and technology, he says.
Accountancy Age (London) (tiered subscription model) (13 Nov.) 
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Report: 40% of CAEs believe they have an impact on business
About 40% of chief audit executives feel their work has a significant impact on the company, according to a survey by Deloitte PLT. "Particularly in the current environment of ongoing disruption, executive teams and boards benefit from the objectivity, integrity and enterprise-wide, holistic viewpoint that internal audit provides," said Cheryl Khor of Deloitte Malaysia.
The Edge Malaysia (15 Nov.) 
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Restructuring would strengthen Ghana's internal audit function
Governments should restructure the internal audit function of Ghana's public sector to boost the strength of its role in governmental financial consolidations, said Benjamin Adjetey, director of technical, monitoring and evaluation at the Internal Audit Agency. The IAA's existing structure and law reduces its ability to manage, supervise and regulate public-sector internal auditing, he said.
GhanaWeb (13 Nov.) 
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Add CIA To Your Resume
Becoming a Certified Internal Auditor® (CIA®) proves you are a credible internal audit professional. Accelerate your success by adding CIA to your resume.
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Risk Management
Number of whistleblower complaints in India rose last year
Whistleblower complaints in India have increased over the past year with 17 Nifty companies reporting that they received 3,508 whistleblower complaints, compared with 3,139 the prior year. Improper workplace conduct and corruption allegations have been the most common complaints.
The Economic Times (India) (08 Nov.) 
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Get the Most Out of Your Organization's Data
The sheer amount of data available to today's organizations puts internal auditors at a disadvantage. Get the IIA Bookstore bundle that turns the tables and lets you outsmart your data with a how-to approach for creating an efficient, optimized data analytics framework that pulls double duty. Order your bundle today!
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Regulation & Compliance
EY UK chair calls for a British version of Sarbanes-Oxley
A memo circulated to 700 partners at EY called for the UK to adopt a similar rule to those in the US and Japan that require corporate directors to certify the accuracy of financial reports. "The Sarbanes-Oxley reforms in the US, where the management of a public company is required to certify the material accuracy of financial statements, could be adapted to the UK market," wrote Steve Varley, EY's UK chairman.
Sky News (04 Nov.) 
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Think tank: EU needs single agency to fight money laundering
The EU needs a distinct anti-money-laundering authority that can impose major fines to combat misconduct across the bloc, Belgian think thank Bruegel said in a report. The European Central Bank has expressed dissatisfaction with the EU's meagre anti-money-laundering efforts, the report said.
International Adviser (UK) (31 Oct.) 
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South Korea preps accounts for new external audit bill
South Korea's Financial Supervisory Service is briefing accountants and investors on a bill that calls for firms with sales or assets above $44 million to carry out external audits. The law will take effect in November 2019.
Yonhap News Agency (South Korea) (free content) (25 Oct.) 
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Identify Key Inputs for Integrated Reporting
A new South African case study released by the Internal Audit Foundation stresses the importance of internal auditors' ability to focus on the whole integrated reporting process and not just on the integrated report itself. Download your FREE copy now.
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Fraud & Ethics
Colombian bribery witness reportedly requested US protection
An auditor who was a key witness in a Colombian bribery scandal died of poisoning last week, and was reportedly seeking protection from the US at the time. "My father was receiving help from the U.S. because his life was in danger," his daughter said in a text message to Bloomberg.
Accounting Today/Bloomberg (16 Nov.) 
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Earn and Report Your 2018 CPE/CPD Credits.
IIA-certified individuals must report credits earned in 2018 by Dec. 31. There's still time to earn credits, including required Ethics CPEs. Opportunities range from one-hour webinars to 32-credit in-person seminars. Or you can opt for OnDemand courses. Learn more about ways to earn your credits today.
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Technology
IIA Global chair: Auditors must adapt to tech advancements
Internal auditors should maximise the use of digital technology to keep their professional skills relevant, said speakers at the Asian Confederation of Institutes of Internal Auditors Conference. "With technology such as artificial intelligence, robotic process automation and advanced analytics having a direct impact on internal audit, there is an urgent need to address the increasing technology skills gap in the internal audit profession and prepare them for the tech-driven business environment," said IIA Global Chairman Naohiro Mouri.
The Edge (29 Oct.) 
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Learn How to Audit Third-party Provider Risks
Become better informed on the roles, responsibilities, and risks involved in managing third-party risk. This new practice guide provides structure for planning and executing audits of third-party risks in any organization and includes example audit guidance tools. Get your copy now.
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IIA News
Integrating a data-driven approach
Internal auditors who challenge themselves to be leaders in the field of data analytics will enjoy the fruits of being leaders in their departments, in their organisations, and in the profession of internal auditing. Learn the basics. IIA members can download a free copy of this new Global Knowledge Brief.
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New guidance on auditing third-party risk management
This new practice guide is a useful tool to become better informed on risks related to third-party provider management. Risks across the full vendor life cycle are considered, including the appropriate sourcing, ongoing management and termination of vendors. Download now.
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You get closest to the truth by not giving it advance warning that you're coming after it.
Michael Marshall,
writer
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