I recently had lunch with an audit executive who told me her team needed a new audit software solution. However, she kept putting it off because she felt overwhelmed by the myriad of options and the process of finding one. Wading through solution websites, stretching out mentally to determine which functionalities are marketing fodder and which are real, knowing she’d have to sit through numerous demos; she said she felt exhausted before she’d even begun!
At Onspring Connect 2018, client presenters from 16 companies shared their creative uses of the Onspring platform to solve business challenges in internal audit, vendor management, risk assessment, internal controls and business operations. But only one of these organizations would go home with the coveted Innovation Award…or so we thought.
Whether it’s an audit recommendation, a failed control test, an incident report or a third-party weakness, the risk of the “vanishing issue” is real. To get to the root of the problem, it’s important to understand why an issue may get lost.
Turn the pages of any Internal Audit publication, and you’ll see a prevalent theme: the role of technology in the IA profession of the future. Auditors are handling more (and more complex) data than ever before, and technology plays a crucial role in transforming this data into actionable intelligence. Internal Audit Insights, a publication of the MIS Training Institute (MISTI) recently interviewed our own Jason Rohlf, VP of Solutions at Onspring, about the evolving role of technology in the Internal Audit profession.
It’s time for your 15-minute fix of ideas and insights from the world of internal audit. Explore our curated selection of articles from the Institute of Internal Auditors and other trusted sources.
Common supports remain in place, even as regulations and best practices evolve. Remember this as you stand at the metaphorical “ice cream counter of compliance.” The sheer variety and complexity of requirements can be overwhelming, but the core people, processes and technologies you engage to understand and address those requirements remains largely the same.
Internal Audit is a field for people who love to learn, and there’s plenty of good information on the web for practitioners who want to advance their careers. But what about the folks who are entirely new to the profession? How do they begin to swim in a vast sea of professional guidance?
In this age of facial recognition, artificial intelligence and autonomous vehicles, who knew that it was still possible to geek out over a Word document? Turns out, when you combine powerful automation and rich data with good ol’ Microsoft Word, very good things can happen.
If you were old enough to ride a 10-speed or file taxes in the 80s, you probably have fond memories of mixtapes—a collection of favorite songs on a well-worn cassette that you listened to over…and over…and over again. We’re a long way from mixtapes in 2017, but the concept holds true: sometimes the good stuff just keeps getting better. As the year draws to a close, the Onspring team would like to offer our own mixtape of sorts: a collection of our most popular blog posts from 2017. We invite you to sit back, “press play” and enjoy these stories again (…and again…and again).
The internal audit profession has long called upon itself to add value to the organizations it serves. It’s not just about performing audits, testing controls and issuing reports. Internal audit is expected to use its unique position within the organization to take the collection of individual pieces and parts and build a comprehensive view of the company and provide valuable guidance on the strengths, weaknesses, threats and opportunities that the organization must navigate in order to succeed.
Audit often encompasses a broad spectrum of procedures, checkpoints and validations with scope that spans safety, sanitation, compliance, quality assurance in alignment with standards and more. That’s where the Audit Checklist solution comes in. This can be incorporated into the Internal Audit function or exist independently.
We live in an era of choice and flexibility, but sometimes the places where we need flexibility the most are the ones that remain painfully rigid. I hear this a lot from internal auditors—particularly those who work on small or mid-sized teams. Their frustration with hard-coded, “do-it-this-way” solutions seems to have reached an all-time high.