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Internal audit articles

Articles and feature from the ICAEW on internal audit

Displaying 1-50 of 52 results
New Internal Audit Code to strengthen corporate governance
  • Sep 2024
  • ICAEW Insights
Enhanced Chartered Institute of Internal Auditors Code of Practice aims to tackle emerging risks, bolster business resilience and support economic stability.
INTERNAL AUDIT COMMUNITY CPD made easy for members in internal audit
  • Aug 2024
  • ICAEW
ICAEW’s revised CPD regulations came into effect on 1 November 2023. If you’ve still not taken time to understand and explore these, there’s still plenty of time to do so before this year’s CPD period ends on 31 October 2024.
Severe financial difficulties likely for one third of councils
  • Jul 2024
  • ICAEW Insights
The Chartered Institute of Internal Auditors has released research demonstrating the financial instability and audit weakness of many local authorities.
AI ‘will turbocharge cybercrime and fraud’
  • Jun 2024
  • ICAEW Insights
Chief internal auditors are worried that AI is likely to fuel a surge in cyber, fraud and economic crime, according to a new poll.
AUDIT AND ASSURANCE FACULTY Climate assurance: governance and accountability
  • Jun 2024
  • Audit and Assurance Faculty
Explore the board's responsibilities, audit committee obligations and the role of internal systems of management and control in delivering appropriate and effective climate assurance.
Exclusive INTERNAL AUDIT COMMUNITY Cultural Assurance: Do your colleagues really understand what is expected of them?
  • May 2024
  • Carolyn Clarke, Founder, Brave Within LLP
The Internal Audit Standards and Code of Practice make it clear that internal audit functions should have an approach to reviewing the culture of the organisation, ensuring behaviours are aligned with intentions and with the appetite to risk.
Exclusive INTERNAL AUDIT COMMUNITY Seizing the moment: Internal Audit awareness month
  • May 2024
  • Carolyn Clarke, Vice-President: Chartered Institute of Internal Auditors
The month of May is Internal Audit Awareness month. As we approach the month-end it feels timely to reflect on the role, positioning and recognition of our profession.
Exclusive INTERNAL AUDIT COMMUNITY Empowering internal auditors to be bold and brave
  • Apr 2024
  • Gavin Haves
The Chartered Institute of Internal Auditors (CIIA) has announced a consultation to revamp its two Codes of Practice (for financial services and non-financial services).
Exclusive INTERNAL AUDIT COMMUNITY Unsung heroes, navigating career challenges to drive value
  • Apr 2024
  • Steven Brown
ICAEW recently hosted a webinar where three experienced internal audit professionals shared their insights on the evolving landscape of internal audit, the skills needed to succeed in this field, and strategies for overcoming common challenges.
Exclusive INTERNAL AUDIT COMMUNITY Corporate Governance Developments for Internal Auditors
  • Apr 2024
  • Carolyn Clarke
After what seems like a very extended waiting period we finally have the revised UK Corporate Governance Code (the Code) and associated Guidance.
Updated internal audit code to boost corporate governance
  • Mar 2024
  • ICAEW Insights
Revised Internal Audit Code of Practice aims to empower internal audit by acting as a practical guide to supporting board disclosure on risk management and internal control frameworks.
Exclusive The role of Internal Audit in ethical AI
  • Mar 2024
  • Dimitris Kaskantanis
As AI progresses and gains wider acceptance, ethical considerations become increasingly significant. AI introduces ethical challenges across various domains, including democracy, justice and diversity and inclusion. This article explores these considerations, the associated risks, and the role internal auditors can play in promoting ethical conduct.
FRC updates Governance Code
  • Jan 2024
  • ICAEW Insights
The 2024 Corporate Governance Code features minimal changes, mostly relating to risk and internal controls.
Exclusive DATA ANALYTICS COMMUNITY Unlocking the Benefits of a Unified Data Platform for (Internal) Auditors
  • Dec 2023
  • Polyna Christakou
There are several data-engineering platforms in the market that allow organisations to process and transform large data sets. In this article, Polyna Christakou, Head of Internal Audit Data Analytics at Eurobank, shares her experience with using Microsoft Azure Databricks, a unified data warehouse.
Climate change hazards in supply chains ‘should be priority’
  • Nov 2023
  • ICAEW Insights
As COP28 approaches, a new report from the Chartered Institute of Internal Auditors urges business leaders and boards to focus on ESG risks within their supply chains.
The difference between internal and external audit roles
  • Nov 2023
  • ICAEW
Understanding the differences between internal and external auditing positions is key for deciding on the specialism you want to do.
Internal auditors can help boards tackle ‘poly-crisis’
  • Oct 2023
  • ICAEW Insights
Perfect storm of interlocking risks piles pressure on corporates to ramp up resilience – and internal auditors are key to making that happen, says report.
Local government needs good internal auditors
  • Sep 2023
  • ICAEW Insights
Parish, village and town councils urgently need internal auditors to ensure they are held accountable, transparent and independently verified.
Boards urged to collaborate with internal audit as interest rates rise
  • Jul 2023
  • ICAEW Insights
The risk level posed by economic uncertainty is seen as high or very high by more than half of all businesses.
Exclusive INTERNAL AUDIT COMMUNITY Why an internal audit function is beneficial to businesses
  • Jun 2023
  • Internal Audit Community
With appropriate safeguards in place and good planning, internal audit can be a valuable asset for companies. Find out how your business can benefit as well as what you need to be aware of.
Economic uncertainty amplifies insolvency concerns
  • May 2023
  • ICAEW Insights
A recent business poll conducted by the Chartered Institute of Internal Auditors has revealed a growing apprehension among chief internal auditors regarding financial, liquidity and insolvency risks.
The role of the internal auditor in addressing fraud risk
  • Jan 2023
  • ICAEW Insights
Fraud losses are costing the UK economy tens of billions every year. Where do internal auditors sit within organisations’ efforts to provide contingencies?
INTERNAL AUDIT COMMUNITY Internal audit: how it works and how to set up an internal audit function
  • Dec 2022
  • Internal Audit Community
Learn more about the key aspects of internal audit and what you need to do to set up an internal audit function for your business.
INTERNAL AUDIT COMMUNITY How to start your career in internal audit
  • Dec 2022
  • Internal Audit Community
Considering a career in internal audit? This article explains what internal auditors do, the different types of internal audit and the skills and qualifications you’ll need for an internal audit role.
Fresh calls for government to progress audit reform
  • Nov 2022
  • ICAEW Insights
Chartered Institute of Internal Auditors demands a clear schedule for government’s plans to move forward with audit reform as MPs table fresh parliamentary questions on the issue.
PROFESSIONAL STANDARDS DEPARTMENT Insolvency Code of Ethics – Internal Audit
  • Nov 2022
  • Professional Standards Department
Read clarification issued by the Recognised Professional Bodies regarding the Insolvency Code of Ethics' reference to 'audit related work'.
Fraud on the Rise: What You Can Do
  • Oct 2022
A joint report from the Chartered Institute of Internal Auditors (CIIA) and AuditBoard, outlining the increasing threat of fraud and key actions that auditors, executive leadership, and boards can take to fight it.
Spotlight on: Kudzanai Mumbure
  • Sep 2022
Kudzanai is an internal auditor in the financial services industry with a special focus on insurance and banking companies.
Internal audit's role in D&I for Financial Services
  • Feb 2022
  • ICAEW Insights
Ololade Adesanya of EY explains the range of policy initiatives that could be effective for driving and supporting diversity and inclusion in financial services.
How Eurobank got to grips with data analytics in internal audit
  • Dec 2021
  • ICAEW Insights
During the worst of the pandemic, Eurobank’s internal audit team took the opportunity to develop its data literacy as pressures to perform increased.
Six ways to embed climate change risk management
  • Oct 2021
  • ICAEW Insights
Company directors need to treat climate change risk as a key risk to their business, and do so as a matter of urgency, a joint report from the Chartered Institute of Internal Auditors and British Standards Institution shows.
Technology: changing businesses, improving Internal Audit
  • Aug 2021
  • ICAEW Insights
It stands to reason that if technology has changed the way in which businesses are run, it has also shifted the way in which the Internal Audit function is performed.
Exclusive AUDIT AND ASSURANCE FACULTY The importance of internal audit
  • Mar 2021
  • Abigail Harper
  • Audit and Beyond
Abigail Harper assesses the part internal audit plays in internal control and risk management, as it performs a health check on processes and procedures.
Exclusive The vital role of Internal Audit
  • Feb 2021
  • Carolyn Clarke
  • Business and Management
IA’s important role in a strong organisation
The Modern Slavery Act: Actions for internal audit
  • Feb 2021
  • ICAEW
This guide explains the role of the organisation’s internal audit function in preparing a section 54 Transparency in Supply Chains Statement, and where there is no such function, best practice for management to ensure all risks to the business have been assessed and the relevant controls are in place.
BUSINESS AND MANAGEMENT FACULTY Why CEOs and CFOs should engage with internal audit
  • Feb 2021
  • David Jardine
  • Business and Management
David Jardine, senior vice president, Internal Audit at bp plc, explains why Chief Executive Officers and Chief Financial Officers need to engage with the Chartered Institute of Internal Auditors’ Code of Practice and why it’s not just for internal audit teams.
Exclusive AUDIT AND ASSURANCE FACULTY The eight key areas that need to be reassessed in internal audit
  • May 2020
  • Audit and Assurance Faculty
  • Audit and Beyond
ICAEW’s Internal Audit Panel has said that it may be time for internal audit to reassess assurance needs in some key areas.
Exclusive AUDIT AND ASSURANCE FACULTY Internal audit can assist project managers
  • Mar 2020
  • Audit and Assurance Faculty
  • Audit and Beyond
How internal audit can help project managers to successfully implement new approaches.
AUDIT AND ASSURANCE FACULTY Improve your organisation's level of assurance
  • Sep 2019
  • Internal Audit Panel
ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.
Exclusive Internal Audit Memorandum - VAT FINAL
  • Dec 2018
  • PDF (202kb)
VAT Internal Audit Report
Exclusive BUSINESS AND MANAGEMENT FACULTY Accountants and data scientists - collaborating for success
  • Nov 2018
  • Rick Payne
How can finance departments and internal audit make the most of data science? This was the main question Centrica's internal audit team and ICAEW discussed at a workshop on 15 October 2018.
CORPORATE GOVERNANCE COMMUNITY 9 Traits of an effective Audit Committee
  • Sep 2018
  • Corporate Governance Community
  • Corporate Governance Community Newsletter
Having an effective Audit Committee is essential for good corporate governance as it leads on financial reporting, internal controls, risk management and external audit functions.
AUDIT AND ASSURANCE FACULTY How can internal audit assess business continuity and crisis management plans?
  • Aug 2016
  • Mark Stock
PwC’s Mark Stock looks at the important role that internal audit can play in helping businesses to prepare for the unexpected.
AUDIT AND ASSURANCE FACULTY Resilience – more than a buzz word?
  • Aug 2016
  • Mark Stock
PwC’s Mark Stock highlights how internal auditors are in a unique position to review how effectively an organisation can respond to change.
AUDIT AND ASSURANCE FACULTY Can internal audit cope with transformational change?
  • Jul 2016
  • Rosana Bianchi
EY’s Rosanna Bianchi asks whether internal audit functions are ready to deal with transformational change and provides a perspective from the financial services sector.
AUDIT AND ASSURANCE FACULTY The challenge of auditing culture
  • Jul 2016
  • Christos Skapoullis
Assessing the corporate culture of your own organisation is not easy, but done well it can be a valuable exercise. Christos Skapoullis, head of internal audit at the Bank of Piraeus, outlines the potential pitfalls and how to avoid them.
AUDIT AND ASSURANCE FACULTY Balancing scepticism in internal audits
  • Mar 2016
  • Amanda Bradley
Amanda Bradley, GSK’s director of risk and strategy, audit and assurance, discusses the importance of finding the right balance of open-mindedness and scepticism when conducting internal audits.
CORPORATE GOVERNANCE COMMUNITY 10 internal audit qualities for smaller businesses
  • May 2015
  • David Lewis
  • Corporate Governance Community Newsletter
More businesses are looking at the way they manage risk and may consider having an internal audit function, although for a smaller organisation resource is likely to be limited. With that in mind, here are 10 important qualities for internal audit within small businesses.
Exclusive CORPORATE GOVERNANCE COMMUNITY Why internal audit? Risk indicators in smaller businesses
  • May 2015
  • David Lewis
  • Corporate Governance Community Newsletter
Recent UK governance changes are likely to lead to more quoted companies taking a closer look at the way they manage risk and at how they ensure that business practices are effectively supporting their organisation.
Exclusive CORPORATE GOVERNANCE COMMUNITY Part 2 - internal audit for directors
  • Sep 2012
  • Mark Stock
  • Corporate Governance Community Newsletter
In the second part of this series, Mark Stock now considers some questions that boards and audit committees might ask about their internal audit and compliance functions.
Displaying 1-50 of 52 results