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Chambers on Internal Audit | Audit Beacon
For more than 25 years, internal audit standards have been clear: the internal audit plan must be driven by risks facing the internal auditors’ organizations. That […]| Audit Beacon
The IIA recently released Global Perspective and Insights — a whitepaper that includes some sobering information regarding how the internal audit profession is addressing emerging risks globally. The […]| Audit Beacon
This year has brought a plethora of research reports and predictions on the future of internal audit. I applaud all who strive to help internal audit […]| Audit Beacon
Over the past decade, I have often discussed the strategic risks facing the internal audit profession. That includes several warnings I offered back in 2014: In […]| Audit Beacon
I was in a conversation recently when a colleague used an acronym I had not heard before: FOFO. It stands for “fear of finding out.” He was describing the culture in his organization. Sadly, many internal auditors can relate. They, too, work in environments where leaders prefer not to acknowledge “inconvenient truths.” What is a FOFO Culture? I have long subscribed to the definition of culture as “how things are done around here.” In a FOFO culture, leaders avoid information that ...| Audit Beacon
For the last 5 years, I have carefully monitored the perceived strategic risks facing the internal audit profession. For much of that period, one strategic risk […]| Audit Beacon
I have been sharing my perspectives about organizational culture for more than a decade. In a partnership with AuditBoard, my colleague Sandro Boeri and I recently published the 2025 Organizational Culture and Ethics Report. We share extensive insights on how organizations can monitor and mitigate culture risks. But the sad reality remains: organizations with bad cultures are not anxious to monitor them. If the 21st century has taught us anything about organizational life, it is this: culture...| Audit Beacon
For more than two decades, I have cautioned chief audit executives (CAEs) to remain vigilant to signals from their stakeholders. Expectations can shift overnight, and with […]| Audit Beacon
Earlier this week, I came across an article that discussed an ongoing dispute in Delaware over funding of the State Auditor’s office. Partisan politics appear to […]| Audit Beacon
In 2014, I wrote about the troubling tendency of organizations to either “feed a fever” by pouring resources into internal audit functions during crises—or “starve” them […]| Audit Beacon
If you ask almost any chief audit executive (CAE) whether they have the full support of their audit committee, the answer will almost always be “yes.” But experience tells us that this support is sometimes conditional — firm when the stakes are low, but fragile when the stakes are high. Audit committees rarely hesitate to back us on the easy issues: approving changes to the audit plan or charter or even supporting resource requests. But when it comes to the toughest conversations — pa...| Audit Beacon
I’ve heard my share of jokes about internal auditors over the years. Most of the time, I can laugh them off. After all, there are jokes about every profession — doctors, lawyers, accountants, and even CEOs. Why should internal auditors be any different? But every now and then, a joke lands a little too close to home. I remember being at a conference years ago when the speaker asked: “How many internal auditors does it take to screw in a light bulb?” The punchline: “It depends. How m...| Audit Beacon
Since launching my blog in 2009, I’ve written more than 800 articles on internal audit, risk management, and governance. But if I had to name just one that’s stood the test of time — and the scrutiny of hundreds of thousands of readers — it would be “10 Things Not to Say in an Audit Report.” First published in 2011 and refreshed in 2017, it remains the most-read post I’ve ever authored. Why has this topic resonated so widely? Because in our profession, how we communicate can mat...| Audit Beacon
Over the years, I’ve had countless conversations with chief audit executives (CAEs) who are navigating the complex terrain of organizational politics and governance. One of the most troubling trends I continue to hear about—despite years of progress in internal audit independence—is the intrusion of management into the CAE’s executive sessions (sometimes referred to as in camera sessions) with the audit committee. Let me be blunt: executive sessions are not for executives—at least n...| Audit Beacon
In October 2020, I shared the sad news with the global internal audit profession that four public sector internal auditors in Liberia had died mysteriously in […]| Audit Beacon
“When you put yourself on the line in a race and expose yourself to the unknown, you learn things about yourself that are very exciting.” – […]| Audit Beacon
In a recent article for AuditBoard, I shared 10 lessons I have earned in my 50 years on the (internal) audit trail. Number 3 on the […]| Audit Beacon
Like many chief audit executives, when I was leading an internal audit function, I periodically found my company facing financial pressures. Inevitably, management and/or the board […]| Audit Beacon
I often find that the most spirited debates on LinkedIn take place on the weekends. Perhaps it’s because there are fewer posts and debate leads to […]| Audit Beacon
In her iconic book, Extraordinary Circumstances, former WorldCom chief audit executive (CAE) Cynthia Cooper recounts her challenge of bringing to the audit committee’s attention more than […]| Audit Beacon
