Reducing the effort of risk based internal audit planning

Risk based internal audit planningThe IIA's standards require us to prepare a risk based internal audit planning. However, if risk assessment and management is not (yet) embedded in your organization, it requires a concerted effort from the auditees to provide you with the relevant information. Given this is not necessarily a priority to them, are … Continue reading Reducing the effort of risk based internal audit planning

Working with inherent and residual risk

The internal audit perspectiveTo an internal auditor, a risk analysis is relevant because it provides information on the priorities within an audit universe. The auditor will look at all he has right to audit (the audit universe) and ask himself where his task, providing assurance, is best executed. You need to think this through: it’s … Continue reading Working with inherent and residual risk

The impact of simplification on residual risk

Red tape increases risksRed tape is likely to lead to increases in residual risk profiles of organizations. These organizations are overburdening their external and internal customers with these increases in rules and regulations they need to comply with. Contrary to their expectations, this will not lead to more care. The more rules exist, the more … Continue reading The impact of simplification on residual risk