Nearly all of the respondents (91%) were at least moderately confident in their internal audit function’s ability to assess risk on an ongoing basis. Sixty-one percent of respondents agreed or ...

Determine whether internal audit periodically assesses its skills to identify gaps and address them. Audit committees need to have a critical discussion about skills with their internal audit ...

NEW YORK, NY--(Marketwired - December 11, 2015) - The role of internal audit as the third line of defense is a vital position with increasing pressure and complexity in what internal audit must ...

Moreover, CCOs often find the internal audit risk assessment to provide important insights to inform the CCO’s own view of relative risks.

Based on that, internal audit calculates an adjusted value for controls and, accordingly, for residual risk. For Customer Credit, the 90% confidence level (or 10% lack of confidence) reduces the ...

A risk-based audit approach is the latest “best practice” in the evolution of internal auditing, aimed at maximizing the impact of audit by focusing on the major strategic, regulatory ...

For more information on fraud risk and assessment, contact Frank Rudewicz at [email protected] or 617-221-1978. For more information on CliftonLarsonAllen LLP, visit CLAconnect.com.

Technology also remains a key area of focus for internal audit functions, making up 18 percent of the current audit plan. Improving the risk assessment process is the number one priority of CAEs and ...