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Building a Culture of Audit Bench Strength Takes Time and Commitment – The Payoffs are Well Worth the Effort By Ann M. Butera, CRP, President, The Whole Person Project, Inc.
The concept of building bench strength is one that really resonates when
you are talking about the internal audit function. At a time when
organizations are focusing, more than ever before, on managing resources
effectively, internal audit directors know only too well that every one of
the positions allocated to them has to count. To successfully manage these
resources, you need a strategy and conscious commitment to build bench
strength: a team of people with the skill levels and experience that will
empower them to step up to whatever challenges may come. Click here for the rest of the story!
This article was contributed by Protiviti KnowledgeLeader, an online service providing tools, templates, and other resources for internal audit and risk management. Free trials available at www.knowledgeleader.com.
Recession Special! Get 10% off
AuditNet® Community Sponsor News!
Thanks to Paisley and TeamMate for sponsoring the newsletter!
This month's theme is leadership.
The AuditNet® community has grown by leaps and bounds thanks to your continued support. Yes it is hard to imagine but it has been more a decade since this community was created! Support AuditNet® by supporting our advertisers. Advertisers, affiliates and document contributions from the AuditNet® community this site help to keep this site maintained in the quality that you have grown accustomed to.
This month we feature PricewaterhouseCoopers' Global Best Practices ® an online resource used by auditors to benchmark business process performance, identify areas of strength, opportunity, and risk, and study best practices that support process improvement. A process classification framework, qualitative and quantitative benchmarking tools, risk and controls information, and comprehensive best practices reports are included in the knowledge base.
The theme of this month's newsletter is audit management and therefore you will find articles and links to resources focused for managing the audit function. Next month's theme is compliance. If you have an article or resource on compliance please send it along to the editor.
Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®.
Career Advice Q&A Pros and Cons of Performance Appraisalsby Robbie Miller Kaplan
author of How to Say it When You Don't Know What to Say: The Right Words For Difficult Times Illness and Death and How to Say it in Your Job Search
Performance appraisals should provide an accurate assessment of performance during the covered period. Effective appraisals highlight successes and detail specific areas where employees can improve, providing fresh objectives for the next performance period. Despite the advantages, many managers view the appraisal process as a nightmare and delay the writing and delivery. If managers wait a full year to consider and evaluate their employee’s performance, the task is easily derailed and very difficult to do. Robbie Miller Kaplan, author of “How to Say it When You Don’t Know What to Say: The Right Words for Difficult Times: Illness & Death,” discusses the pros and cons of performance appraisals.
Here are performance appraisal pros and cons.
Visit the Comforting Words blog for helping friends and colleagues get through tough times!
Get a Free Resume Analysis! AuditNet Adds a New Career Feature: The Resume Tune-Up.
Nationally recognized resume expert and author of
How to Say it When You Don't Know What to Say: The Right Words For
Difficult Times If you would like your resume to be considered for a tune-up, please e-mail it to Ms. Kaplan. You will be notified by e-mail if your resume is selected. You will need to make yourself available via e-mail to answer a few questions with a tight deadline. Ms. Kaplan will send a critique and suggestions to the individual selected and a summary Resume Tune-Up will appear in the monthly newsletter column. If selected you give AuditNet the right to display your resume for the column. AuditNet® What's New This Month? From the Editor!
AuditNet released a monograph on Securing and Segregating IBM-Supplied CICS Transactions this month. Subscribers may access these new monographs now.
AudiTalk, AuditNet's redesigned free discussion forum site went active February 1 with many new categories. Visit the new forum, register and begin sharing with your peers. The forum is moderated so no spammers are allowed.
LinkedIn's Professional Audit Information Network has over 2,300 members. What a great tool which includes group discussions, news and the opportunity to network with other professionals around the world!
Contest: Where in the world is Jim Kaplan? The picture will change periodically so check back for your chance to win free access for a year! Send your answer to WITW.
AuditNet is working on several initiatives to incorporate audit content into other software applications. One of these applications will offer Software as a Service (SaaS) solutions to requirement management. AuditNet has always supported new solutions and has encouraged start ups and other software vendors to enhance their products for both the mainstream as well as the small internal audit functions. We will continue to seek out opportunities that offer the global audit community new ways of doing business.
In conjunction with the Linkedin Professional Audit Information Networking (PAIN) Group established in December 2007 (and now numbering almost 2,000 professionals) we added a mapping application that demonstrates where AuditNet users live and work. The PAIN group provides an opportunity to tap into a global network of auditors. To add yourself to the map click here. To join the PAIN group click here.
AUDITNET® SURVEYS Administration Time Survey
How much staff time do audit departments expend on administrative tasks not directly related to a project? The question seems to be common among internal audit departments. Audit departments that track time for budgeting purposes sometimes build in time for non-project related administration such as . This survey will examine the audit department time reporting systems and the breakdown of time spent on non-project administration
how many hours or % of time should an audit shop charge to ADM
Previous Surveys
Sarbanes-Oxley and Internal Audit
Pay by Phone or FAX AuditNet is now set up to accept credit card payments for subscriptions by phone or fax. If you are interested in this option click here! Writing for AuditNet? AuditNet Editorial Guidelines Based on the number of articles being contributed to AuditNet we have developed editorial guidelines for future submissions. If you are planning to write an article please review the guidelines before submission. We appreciate receiving material from the global audit community in the interest of sharing knowledge. We are also in the process of guidelines for book reviews and other material submitted for inclusion on AuditNet. Get Audit Related Books Free! Interested in developing your writing skills with having access to the latest audit and business related books? AuditNet is looking for auditors that would like to review books for the benefit of the audit community. This is an excellent way to build your professional publication library and provide a valuable service for AuditNet users. A list of available books will be provided on request. For the guidelines click here. New Benefits of Registration AuditNet receives many questions on what kind of audit related information is available on the Internet and where to find it. As a result of my research to find the answers to those questions I discover value added resources that are useful for auditors. In the past these resources would have been added to the AuditNet Links Page (aka KARL). To provide an incentive for auditors to register on AuditNet I will begin loading these links to a special page that is only available to registered users. Also expect more resources to transition to the registered users area.
AuditNet continues to forge new relationships with professional associations and audit and accounting sites to provide auditors with access to audit work programs.
Group Access to AuditNet Audit Programs.
Join the other groups such as CCH TeamMate, Protiviti KnowledgeLeader and the Association of Healthcare Internal Auditors that have access to all of the AuditNet audit programs.
If you want your group or professional association (IIA, ISACA, ACFE, ACUA, ACUIA etc) to have transparent access to AuditNet audit programs and other content as a benefit of membership contact your professional association official or group leader and ask them to pursue this with AuditNet. Fraud News Feed Go to the AuditNet Fraud Resource Center and check out the fraud news feed to keep up to date with media reported fraud happenings. Audit Programs The audit programs section of AuditNet requires registration in order to access. Beginning in January 2009 there will be a fee (TBD) to access the Level 1 audit programs. There will also be an increase (TBD) in Level 2 or premium content subscriptions. The rates will be announced at a later date. New audit program contributions are available only to paid subscribers or on a one-for-one exchange basis. There are currently over 100,000 registered users. A multi-user subscription rate is also available. Organizations that need more than 2 staff members accessing the service will benefit from this option. There are new additions to the premium audit programs each month that are available as an alternative for those auditors that are unable to or choose not to contribute material to AuditNet®. Site licenses are also available for organizations with more than 15 users. The best way to find all the resources on the site is by going to the AuditNet Library or use the site search. IIA Technology Audit Guide Series
Each Global Technology Audit Guide (GTAG) is written in straightforward business language to address timely issues related to information technology management, control, or security. GTAG is a ready resource series for chief audit executives to use in the education of members of the board and audit committee, management, process owners, and others regarding technology-associated risks and recommended practices.
Here is the link to the GTAG Guides
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Robbie Miller Kaplan 
,
Robbie Miller Kaplan will select one auditor resume each month and
suggest ways to transform the resume from passable to powerful. 
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When we hear of Michael Chertoff, many of us think of travel
restrictions at the airport, illegal immigration, the war against
terrorism, or hurricanes. But few know that long before he became the
second secretary of the U.S. Department of Homeland Security, Chertoff
got his start by tackling corporate fraud, political corruption, and
organized crime.
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For the rest of the article from the latest ACFE Fraud Magazine click here.
This article is from Fraud Magazine, the professional magazine
of the Association of Certified Fraud
Examiners
ACFE FraudInfo Newsletter click here!
Coming Attractions!
AuditNet continues working on building a benchmarking network of resources for the internal audit community. Watch for new links and resources as well as opportunities to benchmark your audit function against others as well as tap into benchmarking and best practices resources and sites. There is a great deal of interest in this type of tool so stay tuned for updates!
AuditNet is working with professional associations to provide access to the audit program inventory. Stay tuned!
The AuditNet Monograph Series provides useful guides for all levels of auditors from juniors right up to audit directors. We are currently working on new guides for Sarbanes-Oxley, internal controls and Internet for auditors and other relevant subjects. These guides will be available to registered subscribers. If you are interested in developing a monograph on a contract basis, contact us.
Watch for new articles on Sarbanes-Oxley, Information Security, Software Auditing, CAATTs, DATTA and more from contributors. Reviews are in the works for more audit and SOx books. Watch the newsletter for more products, services and tools for auditors. Have an idea for a column? Contact us.
AuditNet® continues adding new specialized resources for auditors. Watch the newsletter and keep checking the Library page for updates and new resources.
Updated Pages Since Last Month
Audit Report Writing
International Financial Reporting Standards (IFRS) resources
Recovery Auditing: Reducing Profit Leaks
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Navigating GRC and Audit
Addressing Risk Across the Enterprise: The Internal Auditor’s Role By: Christopher Fox
There has been some very good material written about the role of internal audit in the risk management process, and yet in some organizations, internal audits are still not viewed as being a vital component of risk management. Here are some selected excerpts from relevant industry sources that illustrate this point
Click here forthis article Addressing Risk Across the Enterprise: The Internal Auditor’s Role Global Best Practices Roadmap: Find Your Way with a no-cost benchmarking survey How can you develop a roadmap that would take you from your current performance to the suggested, more optimal way to manage the finance and the record-to-report process? The Global Best Practices Roadmap: Find Your Way promotion will feature a different benchmarking tool on globalbestpractices.com each month. Learn more
Upcoming Webcasts and Webinars for Auditors
Risk Management and the Financial Crisis – What Audit Has Learned and How Technology Can Help April 23, 2009
Active Directory AuditNet will be hosting a series of Webinars on Auditing Active Directory. Following are the titles, dates and times for these events.
CAN’T MAKE THE LIVE EVENT? Register anyway to receive a link to the recorded Webinar.
AuditNet® Adds GANG and YANG New Networking Resources to the Auditor's Toolkit
March 1, 2009 (Oakton, Virginia):
AuditNet® announced today the creation of a two new
networking tool for auditors. The AuditNet® Google Audit
Networking Group (GANG) was established in Google groups
and the AuditNet® Yahoo Audit Networking Group (YANG)
was established in Yahoo Groups. These resources
provide an additional opportunity for auditors to
connect and share with one another. Features that group
members will appreciate include the ability to upload
files, participate in discussions, and connect with
other members. Join the GANG now! http://groups.google.com/group/auditnet
Join the YANG now! http://groups.yahoo.com/group/auditnet
These resources complement AudiTalk, the AuditNet Discussion Forums launched last month. Together with the Professional Audit Information Network on LinkedIn these tools provide more opportunities for the global audit community to network and share knowledge and resources than ever before.
Join now and begin reaping the benefits of AuditTalk, and the AuditNet GANG an YANG discussion forums and networking for the global audit community! AuditNet Releases a New Monograph on Establishing a New Internal Audit Activity
April 1, 2009 (Oakton, Virginia) AuditNet released The AuditNet Guide to Setting up a New Audit Activity. This monograph is based on a guide set up by Carl Burch and was reproduced with his permission. Jim Kaplan added a foreword and an appendix with best practices. New monographs are in process on Key Performance Indicators for Internal Audit, Creating an Internal Audit Charter, Audit Rating Systems, and Digital Audit Knowledge Resource Guide. If you would like to submit a proposal for a topic please send it to auditnet @ gmail.com
AuditNet® Fraud Auditing Corner
Are Clean Opinions Materially Misstated? By Gary D. Zeune, CPA
Have you ever asked yourself, “Why do we even do audits?” Most CPAs will say, “Because they are required?” But why are audits required? Audited financial statements are valuable because they reduce the client’s cost of capital. How? Because audited statements reduce the user’s assessed risk. Assume a bank has a loan request from two companies, identical in every respect, except that one has audited statements and the other doesn’t. All things being equal, the bank will charge a lower rate of interest, and maybe impose fewer or less onerous covenants, to the company with audited statements.
And now to the rest of the story...
Gary Zeune has the ONLY speaker's bureau in the country specializing in white-collar criminals — The Pros & The Cons. Mr. Zeune's speakers tell their stories of how and they committed their crimes. Their frauds range from $18,000 to $350 million. Speakers include CPAs, attorneys, and business people. Fraud News Need to keep up with fraud news and happenings? There are several options available. One is to subscribe to the free ACFE FraudInfo E-newsletter. Another free resource is the Auditing & Fraud News. Service for
research professionals. Constantly updated news and information about
Business & Companies. Go to FraudNet and
click on the link Click Here for Fraud News. |
Sarbanes-Oxley News and Views
What are the Primary Challenges and Trends in Governance, Risk and Compliance?
SOX TV Research Alert New Research!
SOX Television is an Internet Television Network that covers every aspect of the Sarbanes-Oxley Act and the related areas of governance, risk and compliance. Along with its sister network, Risk Television, it reaches more than 300,000 financial, governance, risk and compliance professionals worldwide.
Audit Work Programs Corner
30 Day Trial to the Premium Section
Access to the free audit program section now requires registration. The following documents were added this month. They are available on a 1 for 1 exchange for an original audit work program not currently in the inventory. If you unable to share audit programs then consider subscribing to the premium content which provides you with access free and premium content 24/7/365. Interested in previewing all the programs in the premium content section? Contribute an original audit work program not currently in the inventory and receive a 30 day trial subscription to the premium content. Contribute 5 programs and receive a one year trial subscription. (Offer only available for new programs submitted).
CCH
TeamMate users now have access to all the AuditNet audit programs in
TeamStores format. Access through the TeamStores support site.
E-Book for
Subscribers to the Annual Audit Programs
- Audit Plan and Schedule (April 2009)
- AuditNet Guide to Setting up a New Internal Audit Activity (April 2009)
- Credit Card Loans (April 2009)
- Data Origination Controls Questionnaire (April 2009)
- Domain Object Redundancy Manager
- Fraud Investigation Audit Procedures (April 2009)
- Human Resources/Payroll (April 2009)
- Internal Audit Risk Assessment Plan (April 2009)
- ISALyzer
- Life Insurance Risk Objectives (April 2009)
- Stimulus-Certification Requirement for Receipt of Fund (Gov) April 2009)
- Stimulus-Certification Recovery Act Reporting Requirements (Gov) (April 2009)
Ask the Auditor
Each month I select one question submitted to Ask the Auditor and provide an answer using the same digital tools and techniques that I recommend to all auditors.
Audit Rating Systems
Q;
I would like to get your advice on ratings of the
processes. In our department we would like to rate a process audited
and we cannot come up with good wording of ratings. We would like to
have 3 possible ratings of processes: 1. Appropriate 2. Improvement
needed 3. Inappropriate Would it be possible to get any other
wording of ratings, as we do not really like
appropriate/inappropriate words. Are there any guidelines on this?
A: I have
received this question from several internal audit departments. I
have found that internal audit departments use various
rating/ranking systems. The IIA
has issued a report on expressing opinions on audit reports which
references grading scales however there is no specific standard or
guideline on ranking. That being said, audit departments should
consider implementing an audit rating system approved by the audit
committee. A rating system facilitates conveying to the board a
consistent and concise assessment of the net risk posed by the area
or function audited. All written audit reports should reflect the
assigned rating for the areas audited.
In order to provide general guidance for the audit community on methodologies, AuditNet is developing a Monograph on Audit Rating Systems which includes examples used by different organizations. If you have a rating/ranking methodology you would like to share send it to auditnet@gmail.com. Individuals will receive a copy of the completed monograph.
For more tips go to Ask the Auditor Forum for How Do I...
Submit a question for Ask the Auditor!
Looking to Earn Some Extra $$?
AuditNet is interested in developing a series of SOx or industry related audit programs for organizations. If anyone is interested in writing audit programs, ICQs, questionnaires, or control matrices on a work for hire basis please contact me. If you may know of anyone who would be interested in this as well please pass along my contact information.
Audit Committee – Proactive, Reactive or Cosmetic
[Effectiveness]
by Gursharan Singh
Audit Committees [‘AC’] have been generally established in various organizations be they Government or Non-Government organizations and the corporate sector companies involved in construction, commercial, industrial, trading, manufacturing or other activities.
For the rest of the story click here!
AuditNet Career Center
Auditors Looking for Jobs!
Companies Looking for Auditors!
The Matching Service for Auditors!
Go to the AuditNet® Career Center now for the latest job opportunities and career-related information and tools. 24 hours a day, 7 days a week you have the ability to not only look at available jobs, but you can also post your resume, apply for open jobs, research companies and obtain career advice. If you are in the market for a new job, make AuditNet® your first stop to check out what's available.
If your company has any audit job vacancies that you are looking to fill, have your HR people contact AuditNet® to post the job and search for candidates.
This is just another benefit of using AuditNet® as your one stop shop for all your audit and career resources.
AuditNet® Book Reviews
AuditNet® Software Compliance Audit Corner
Interested in writing a column for AuditNet? This slot is now available. If you are a subject matter expert and would like exposure to the global audit community send me a proposal and I will consider it for publication.
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Your Secret Weapon in the War on Fraud
White-Collar Crime Fighter brings you expert strategies and actionable advice from the most prominent experts in the fraud-fighting business. Each month you’ll learn about the latest frauds, scams and schemes... and the newest and most effective fraud-fighting tools, techniques and technologies you can put to work immediately to protect your organization.
Click here for a link to subscribe to the e-newsletter.
The AuditNet® Audit Bookstore Corner
Looking for books on auditing related topics? We suggest using the AuditNet® bookstore. The bookstore focuses on Internal Audit but includes other related subjects as well. AuditNet® uses Amazon to power the bookstore so each purchase you make through this link helps support AuditNet®.
AuditNet® Vendor News
Check here for the latest news from our AuditNet® sponsors!
Breaking News!
Then check out the CCSA Study System published by Pleier Corporation.
Using the "McKeever CCSA Study System" will improve
users' probability of successfully passing the IIA CCSA exam
by teaching users to answer the type of questions typically
presented on the CCSA exam. Additionally, this system helps
users identify CCSA domains that require their additional
study and lists references useful for any additional study.
The "McKeever CCSA Study System" is available in 2
versions - a 288-page spiral-bound workbook and CD-ROM (for
those who prefer clicking a mouse to turning pages) - for
details click
here!
DISCOUNTS TO AUDITNET READERS
As a reminder, Pleier Corporation offers 10 % discounts to
AuditNet readers at
www.pleier.com. To take this discount order online and
enter the word AUDITNET in the coupon field at checkout.
Click here for opportunities to share your knowledge and earn royalties
Exceeding Expectations for Internal Auditors
Dan's Internal Audit Corner
Making Information Systems Work
By Dan Swanson
New technology has transformed the way we interact with one another and do business. However, as systems become ever-more complex, the challenges of effective implementation are greater than ever. These are challenges to whole the business, not just IT, and require engagement from all across the organization in the effective management and use of technology.
The Making Information Systems Work program considers these opportunities and challenges, engaging all sectors of the economy in the debate. It is based on three themes:
- Value: the economic case for IT investment;
- Trust: a secure environment to transfer information; and
- Standards: a sound technical basis for the exchange of information between parties.
Have another great month.
Dan Swanson
Measuring IT returns addresses the theme of value and considers the challenges faced by many businesses in applying financial analysis to IT investment opportunities. In doing so, it aims to help businesses apply such techniques more meaningfully, thereby improving decision making and implementation in practice.
Also check out the latest IT and Information Security Titles Published by Taylor & Francis!
Have another great month.
Regards,
Dan
AuditNet® Conference & Training News
Want to announce your professional association conference to the global audit community? Send us conference name, date and URL details. (A reciprocal link to AuditNet is required). AuditNet supports co-marketing sponsorship agreements for conferences on a case by case basis.
ACI’S 5th European Forum on Anti-Corruption
Colleagues, affiliates & subscribers of AuditNet are entitled to a substantial discount when registering with priority service code “SP55”
On June 23-24, 2009, preeminent in-house experts, skilled prosecutors and enforcement personnel, as well as leaders of the anti-corruption bar will be converging in London for this industry-known conference. Don’t miss this timely opportunity to obtain expert, cutting edge advice from your peers on how to develop robust compliance practices to prevent the heavy reputational and financial costs of violating anti-corruption rules.
Combating Employee Fraud Conference & Workshop - Achieve a Fraud Free Organization with Effective Internal Controls & Proven Fraud Prevention Programs! 9 -10 July 2009, Singapore
AuditWorld 2009*
Statement 157 Implementation Issues
(LIVE Webcast)
Tuesday, April 28, 2009,
3:00pm to 5:00pm (ET)
* indicates events where you can meet Jim Kaplan
AuditNet Member Makes Two Network Tools Available
Chief Executive Officer Security Audit and Control Solutions has made the following tools available to fellow certified peers at no charge in order
to enhance the fight against Internet abuse. AuditNet registered users can run these at no charge and he will provide a personal license for each one requesting. You must be a registered AuditNet user and login to your account.
1. Domain Object Redundancy
Manager : DORMant - This application that will allow you to
remove redundant accounts (both Computer and User) from you
Microsoft Windows domain. The problem exists due to users and
computers not logging in within an agreed timeframe and is
compounded with multiple domain controllers (DCs) scattered through
a wide network. Each Domain Controller needs to be scanned and the
information collated in a central database.
2. ISALyzer
Microsoft ISA Server Log File Analysis with a forensic approach. It
is there to be used to combat the abuse of system resources as well
as focusing
on pornography in the workplace.