Audit News that's Fit to Print!
December 2019 Issue - Hot Issues for Internal Audit in 2020
As companies continue to navigate rapidly changing business models, regulatory requirements, technology disruption, and more, the opportunity for Internal Audit (IA) to identify and help companies respond to risks is ever-increasing. In fact, IA can play an important role in helping organizations manage the risk environment while also making progress on strategic and growth priorities. To provide the greatest value, IA must find opportunities to challenge the status quo to reduce risk, improve controls, and identify potential efficiencies and cost benefits across the organization.Wolters Kluwer is dedicated to helping to solve their customers most pressing needs. Solutions include: TeamMate AM, audit management; TeamMate CM, controls management; and TeamMate Analytics, data analysis. Together, this ecosystem of solutions provide you with confidence you need to manage all aspects of risk identification and assessment, electronic working paper creation and management, controls framework management, and data analysis. Learn more at www.TeamMateSolutions.com
CaseWare IDEA - Data Analysis Software, is the standard in ease of use for auditors, accountants and financial managers.
Arbutus delivers the very best in purpose-built audit analytics technology to meet the exacting demands of today’s auditors, business analysts, and fraud investigators. Thousands of active users in over 50 countries rely on Arbutus to enhance their testing, analysis and compliance capabilities. Find out why many of the world’s leading organizations have made the switch to Arbutus Analytics technology
Welcome to the Newsletter! AuditNet® an auditor owned and operated Web site publishes a monthly newsletter featuring articles, new content, surveys on audit use of technology, white papers, and audit related monographs and other timely information. Return to our site every month to read the latest Audit News That's Fit to Print. The current newsletter theme will be displayed at the top of the newsletter and you will find articles and information related to that theme. The events section provides information about our upcoming Webinars with CPE at no cost to subscribers and site license users. There is also a link to a subscription for on-demand training with CPE from cRisk Academy discounted for subscribers and site license users.
Jim Kaplan CIA CFE and AuditNet® Founder
We started our research on this month's topic by Googling (yes that is a verb) "2020 Audit Hot Topics'. You can easily do the same substituting terms relating to the topic to other specific issues to further customize the results. Over the past 20 years we have developed an expertise in finding relevant information for auditors. These links are provided to add to your knowledge bases on the theme of this month's newsletter. Here is our query with the links to hundreds or resources to help design your audit plan.
Expect an increased internal audit focus in 2020 on digital, disruptive technologies, as well as continued emphasis on cyber, strategic change and third party risk. Operational resilience has emerged as a key area, following recent regulatory and business focus. This is a topic which encompasses other high-impact domains, such as cyber and technology resilience, crisis management, incident response and recovery.
- Risk in Focus 2020: Hot topics for internal auditors
- 5 Shifts Audit Must Make for the Future - Is audit ready for what's next?
- 20 key risks to consider by Internal Audit before 2020
According to the 2019 AuditNet® User Survey, the main reason auditors visit AuditNet® is to find templates for audit. As a result we moved the current and upcoming audit template additions here for the benefit of users. The following audit templates were added and are now available to subscribers and site license users. Availability based on subscription level. Come to our site to download a list of all the templates. (*e-book Monograph Series). NOW OVER 3,100 audit templates - the largest inventory of audit program templates on the Internet!
The AuditNet® site has always made available a downloadable (Excel csv) list of templates which included the name, subscription level and date added. We have updated the functionality so that the list now includes a description of the templates, number of times that templates were downloaded and a URL direct link to the template. You must be logged in to your subscription or access from a site licensee secure login link in order to download the template from the URL. We added this functionality as a benefit to subscribers and site license users to facilitate downloading. Non subscribers will be blocked from downloading content and be redirected to subscribe. To download the CSV file click on the Audit Templates link on the navigation column, Then click on Download a listing of Audit Programs
Template Additions This Month
- Financial Reporting Risk Control Matrix Template
- Grants Accounting Risk Control Matrix Template
- IT Acquire and Maintain Application Software Control Objective
- IT Acquire and Maintain Technology Infrastructure Control Objective
- IT Develop and Maintain Procedures Control Objective
- IT Identify Automated Solutions Control Objective
- IT Install and Accredit Systems Control Objective
- IT Manage Changes Control Objective
- IT Security Self Assessment Control Objective
- Operations Financial Management Risk Control Matrix Template
Template Additions in the Queue
- Application Risk Assessment NIST
- IT Assist and Advise Customers Control Objective
- IT Define and Manage Service Levels Control Objective
- IT Educate and Train Users Control Objective
- IT Ensure Continuous Service Control Objective
- IT Ensure Systems Security Control Objective
- IT Identify and Allocate Costs Control Objective
- IT Manage Data Control Objective
- IT Manage Performance and Capacity Control Objective
- IT Manage Problems and Incidents Control Objective
- IT Manage the Configuration Control Objective
- IT Manage Third-Party Services Control Objective
AuditNet® and cRisk Academy are pleased to announce an extended partnership. The partnership brings you, the AuditNet® subscriber and site licensee users (ACL, AHIA, Arbutus, CaseWare IDEA, KnowledgeLeader, SAP, and TeamMate), free access to cRisk Webinars. This is a complimentary benefit to you, in addition to all the benefits you currently enjoy. Subscribers and site license users will be able to register, login and attend an unlimited number of cRisk webinars without a fee by receiving a coupon code (note check first as many webinars do not require a coupon).. Instructions are available here or by going to the Templates page and searching for 'cRisk coupons.pdf' (without the quotation marks). (Note: you must be logged into AuditNet as a subscriber or if you access via a site license you must follow the link from your site licensee to login to AuditNet) If you belong to an audit association or are a vendor or service provider and want to provide your members or clients with transparent access to AuditNet® then please contact us for more information.
CPE - AuditNet® offers CPE as a NASBA approved sponsor for some of our Webinars. Please check the Event listing for the classes eligible for NASBA CPE. AuditNet® may charge to attend Webinars (rates subject to change). The fee will be waived for subscribers and site license users. Non subscribers and non site license users may have to pay to attend and will also earn CPE if eligible. Subscribers benefit so subscribe today! Opt In Required to attend the Webinars.
CPE will be issued by cRisk Academy for the Webinars offered through cRisk Academy. AuditNet® will also continue offering hosted Webinars with NASBA CPE. There will be a fee for non-subscribers so if you would like to learn and earn free CPE, subscribe today!
Ethics and Internal Audit December 3 (12 PM) 2 CPE (NASBA)(Register Now)1
Is Your Audit Department "Highly Effective"? December 9 - 1:00 PM AuditNet Webinar with 1 CPE (opt-in required to attend) NASBA CPE OFFERED Register Now!
Analytics Automation: Establishing a More Impactful and Sustainable Framework for Audit Analytics - December 11 11:30 AM EST 1.5 CPE (opt-in required to attend) NASBA CPE OFFERED Register Now!
The Future of Auditing and Fraud Detection January 14, 2020 12:00 pm EST (1.5 CPE) – Re-imagining the art and science of Auditing and fraud detection is coming to the forefront of risk management functions. What was seen as a “nice to have” a few years ago has become a “must have” as digital transformation and data surrounds all aspects of the organization. cRisk Academy Webinar 1.5 CPE Register Now!
How to Use AI Apps to Unleash the Power of Your Audit Program January 16, 2020 1:00 PM EST (1 CPE) Artificial Intelligence (AI) is found in just about every industry today, and accounting and auditing are no exception. Auditors that aren’t already exploring the vast potential of AI-powered applications in their audit program will soon find these tools are the industry standard and will be left in the dust if they don’t adapt and adopt. Register Today !
Auditing Social Media Thursday, Jan 23, 12:00 PM EST Webinar will not be recorded. The most successful businesses are using social media to gain an advantage over their competitors. But do they fully understand the risks? In this webinar we will explore how internal audit professionals with insight can partner with the business to help ensure the pitfalls related to social media are identified and avoided. cRiskAcademy Webinar. Cost: $0. Register Today!
This Month's Featured Articles
Leaders in Audit: How the Financial Services Industry Is Applying Next-Gen Audit Practices: Summary: This article outlines the next-generation audit efforts employed by leading financial services industry organizations looking to achieve transformational change and meet business goals successfully. Read the rest of the story!
The AuditNet® 2019 State of Technology Use by Auditors (SoTU) launched in order to determine what tools audit departments are using, how the tools are being used, the level of use and where auditors see themselves on the Audit Utilization of Technology Optimization Scale (AUTOS). The last AuditNet® SoTU Survey was in 2017. We are looking your help in taking this survey. All respondents who share their email address and opt-in for our mail list will be entered into a drawing for a a free one year subscription to AuditNet®. If the winner is already a subscriber then one year will be added to the (subscription. (Note subscribers can also register and attend all AuditNet® hosted Webinars and earn CPE at no charge). The survey will take 10 minutes so please help out and share the survey link with your colleagues, social media (LinkedIn, Twitter, Facebook) and your other networks. Take the survey now!
New Internal Audit Skill Needed: Data Analytics - One of the biggest changes to the future of internal audit is using more data analytics. One can’t go anywhere in the audit world without hearing about the need to use more data analytics in our testing.
In fact, the CIA exam was updated this year to include more information and questions about data analytics, and it is also one of the top skills that Chief Audit Executives want their staff to develop. So the question is “how well do you understand and know how to analyze data?” Read the rest of the story!
Internal Audit’s Technology Aversion is a Thing and it Needs to Go In this, the Age of Data, technology and auditing are a match made in heaven. Between data mining, predictive analytics, fraud detection, and cybersecurity, it’s as if the top internal audit technology was designed to address the new challenges and opportunities facing the profession.
Yet why are internal auditors are so reluctant to adopt new audit technology into their practice? And why is there a skills gap when we look at internal audit’s relationship with technology? Read the Blog!
Strategic Planning for Internal Audit: A CAE’s Guide to Driving Value Creation - In recent years, many boards have sharpened their focus on the business strategies of their organizations in response to mounting financial pressures and the combined impact of disruptive change and new technology. As a result, internal audit groups around the world are being challenged to keep pace with the strategies of their organizations while seeking to develop appropriate strategies for their own internal audit activities. Read the rest of the story and download the guide!
Best Practices for Internal Auditors
Gone are the days when internal audits were limited to annual assessments of operational and financial controls alone. Today’s internal auditors are expected to do more – to step out of their comfort zones and provide assurance on a range of new and emerging risks, while also delivering timely insights to guide key strategic decisions. Stakeholders are increasingly relying on internal auditors to help them navigate the choppy waters of rapidly changing regulations, large-scale data breaches, complex global business ecosystems, and geopolitical uncertainties. How internal audit responds to these expectations will determine their success, relevance, and value in the coming years.
With that in mind, here are 5 best practices for internal auditors to successfully meet stakeholder expectations, and drive exceptional business performance in their organizations: Read More!
2019 Webinar Recordings and Series
Register for Webinars Offered by AuditNet®. Our 2019 Webinar program features high quality presenters on technology and skills topics. Who says you have to make a drive and give up a day in the office to receive quality training on audit hot-topics? Our courses will hit topics hard and bring you up to speed as you begin your 2019 training. Check out our Webinar offerings with CPE for subscribers and site license users! Missed the live sessions? Connect with our partner site cRisk Academy to discounted subscriptions for on demand courses with CPE (fee based).
We continue adding events to our Webinar schedule for 2019 and the registration information will be posted in the Events listing on the home page ASAP. Watch for updates on the dates and registration links! Following are the current Webinars available for registration:
cRisk Academy On-Demand Training
The #1 on-demand and webinar training platform for internal auditors. Technical and soft-skills to help you succeed in your career. - View a large library of on-demand training, that is significantly discounted over what you would normally invest in a live, in-person training. You still have the same material, but can now watch it when, and where you desire . Any Time, Any Where, on Any Device!
Ethics and Internal Audit (Recording available on cRiskAcademy.com)
Robotic Powered Auditing (“RPA”) – The use of robotic process automation (RPA is the rave but where can you best apply resources to maximize this powerful audit assistance. Watch the video now! (No CPE)
- The Future of Auditing and Fraud Detection – Re-imagining the art and science of auditing and fraud detection is coming to the forefront of risk management functions. What was seen as a “nice to have” a few years ago has become a “must have” as digital transformation and data surrounds all aspects of the organization.
- Building & Striving for Data Analytics Excellence - Use Cases : Duplicate Testing & Segregation of Duties
- Data Analytics for Internal Audit 101 cRisk Academy
- Overcoming the challenges of audit reporting in a multinational corporation
- Avoiding Resistance by Using the Principles of Influence - 1 CPE (cRiskAcademy recorded Webinar)
- How to Breakthrough Barriers and Drive More Value from your Data Analytics Program - (AuditNet recorded Webinar)
- Cyber Security Series: Part 11 - Current Cyber Risks (cRiskAcademy recorded Webinar).
- Moving Internal Audit to the Strategic Level - 1 CPE (cRiskAcademy recorded Webinar).
- Agile Auditing - Rethinking the Audit Plan for Financial Services Organizations (AuditNet recorded Webinar)
- How a Total Quality Mindset Can Help Internal Audit Add Real Value (cRiskAcademy recorded Webinar).
- How to Become a More Mindful and Emotionally Intelligent Leader (cRiskAcademy recorded Webinar).
- How ERM & Audit Work Together - A Combined Assurance Approach Internal audit is a profession that provides assurance that objectives are being met for the organizations that it serves.(AuditNet recorded Webinar)
- Why Don't Auditors Find More Fraud? cRisk Academy Webinar 1 CPE The ACFE reports that about 40% of frauds are uncovered from tips to a whistle blower hotline, while internal audit only uncovers about 15% of frauds. Join the webinar to find the answer!
- How to Become a More Mindful and Emotionally Intelligent Leader (cRiskAcademy recorded Webinar).
- Powerful Everyday Opportunities to Persuade that are Lasting and Ethical (Influence PEOPLE) (cRiskAcademy recorded Webinar).
- How Total Quality Auditing (TQA) Can Improve Internal Audit Value (cRisk Academy) Video on Demand with CPE!
- Embracing Multi-Generational Teams in Audit AuditNet Webinar Video on Demand with CPE
- Structuring Your Organization for Success with Data Analytics AuditNet Webinar Video on Demand with CPE
- Establishing or Improving a Risk-Based Audit Approach (cRisk Academy) Video on Demand with CPE
- How to prevent audit from becoming obsolete (cRisk Academy) Video on Demand with CPE!
Data Analytics for Internal Auditors
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. The series will be available on demand from cRiskAcademy or you can get the complete set of recordings for $249.
Data Analytics for Internal Auditors on a Flash Drive - 6 webinar series
Since the spread of IT systems has made it a pre-requisite that auditors as well as management have the ability to examine high volumes of data and transaction in order to determine patterns and trends. In addition, the increasing need to continuously monitor and audit IT systems has created an imperative for the effective use of appropriate data mining tools.
While a variety of powerful tools are readily available today, the skills required to utilize such tools are not. Not only must the correct testing techniques be selected but the effective interpretation of outcomes presented by the software is essential in the drawing of appropriate conclusions based on the data analysis. This 6 webinar series, based on Richard Cascarino’s book “Data Analytics for Internal Auditors” covers these skills and techniques.
Missed the series! Access the VOD at cRiskAcademy or purchase the series of 6 Webinars on an AuditNet® flash drive. Watch and learn at your own time and pace!
Did you miss the AuditNet® Data Analytics for Internal Auditors or the Cybersecurity Webinar Series? Richard Cascarino conducted a series of 6 Webinars on Data Analytics for Internal Auditors and a 10 Webinars last year on Cybersecurity for AuditNet®. If you weren't able to attend we now offer the complete series of recordings and slides on a flash drive. Here is the information on this series of recorded webinars and the pricing.
AuditNet® Template Audit Starter Kit (TASK) package provides a jump start to developing customized audit procedures. The TASK package includes the e-book, Creating Audit Programs - Developing Audit Procedures, Audit Programs, Questionnaires, Checklists and Control Matrices and the AuditNet® Template workbook with the worksheets for preparing for your audit.The AuditNet® e-Book provides a methodology or framework for creating audit documentation as well as sample audit documentation including objectives for various areas, formats for audit programs, checklists and control matrices. TASK Package.
Benefits for Subscribers? AuditNet® subscribers (and site license users) have more than 3,100 templates (audit programs, matrices, checklists, e-books and more) available for download. But that's not all! Subscribers (all but free) and site license users can register and attend AuditNet® Webinars and receive CPE at no additional cost. What a great way to see how other auditors jump start their audits and earn required CPE (including Ethics for Auditors). SUBSCRIBE OR RENEW NOW! (applies only to paid current subscriptions) Looking for audit program templates? AuditNet® subscribers can download templates from our growing inventory!
Reasons that Auditors Visit AuditNet® (according to a 2019 survey):
- Finding audit programs
- Finding online training with CPE and,
- Researching best practices.
Join thousands of other auditors that subscribe or come to AuditNet® through a site license partner and you will have access to over 3,000 audit program templates and be eligible to earn CPE at no additional cost and find best practices from other audit departments!
AuditNet® launched a new delivery method for our Webinars through a partnership with cRiskAcademy. AuditNet® continues adding resources and tools for GDPR compliance and audit. We use a third party to develop GDPR templates and are being uploaded for subscribers and site license users over the next couple of months. There will be COBIT templates, new control matrices, control self assessment templates and more added over the next year. AuditNet® continues to be the most comprehensive online portal for the global audit community. Watch for new templates available to subscribers and site license users (ACL, IDEA, TeamMate, KnowledgeLeader, AHIA, and SAP), Webinar fees are waived for subscribers and site license users. Check the AuditNet® Library for the GDPR resource page.
Templates on a Flash Drive - Tired of searching and downloading the templates one by one. We now offer the "AuditNet® content Templates on a Flash Drive" for individuals and companies. We have set up the ability for individuals, groups and vendors to acquire and use the AuditNet® content. Individuals and groups will be able to get a flash drive with all the templates available to subscribers as of December 31, 2018 (over 3,000). The templates on a flash drive can be used for non-commercial use within your own organization (no sharing with others). Pricing will be based on staff size. Vendors will be able to acquire the templates for commercial purposes under a separate licensing agreement. The pricing for the "Templates on a Flash Drive" is available now. If you are interested in pricing or have other questions on this new option send an email to email@example.com.
More CPE NEWS
AuditNet® offers recorded Webinars through CPDPhilippines.ph, the online platform of Global Artificer an accredited Continuing Professional Development (CPD) Provider in the Philippines. CPDPhilippines.ph's platform helps Filipino Professionals improve and promote their proficiency and expertise through online learning delivered by professionals who have mastered their profession.AuditNet® continues it's commitment to providing resources for the global audit community!
Following are the recent Webinars available from cRisk Academy for on demand viewing with CPE: (Recording available with CPE from cRisk Academy only $9/month for subscribers)
- The Future of Auditing and Fraud Detection
- Cybersecurity Series (9 of 10) - Vulnerability Assessment
- Cybersecurity Series (10 of 10) - Advanced Persistent Threats and Targeted Cyber Attacks
- Super-Data-Charging Your Corruption Reviews With Integrated Analytics
- Cybersecurity Series (1 of 10) - Cyber Defense
- Cybersecurity Series (2 of 10) - SANS SEC440: Critical Security Controls
- Cybersecurity Series (3 of 10) - Malware Defense
- Cybersecurity Series (4 of 10) - Boundary Defense Mechanisms
- Cybersecurity Series (5 of 10) - Controlling Ports and Network Devices
- Cybersecurity Series ( 6 of 10) -Application Security
- Cybersecurity Series (7 of 10) - SEIM Log Analysis
- Audit Analytics and the Agile Auditor: Starting an Analytics Project
- Cybersecurity Series (8 of 10) -Administrative Control Breaches
- Establishing Effective Communication Skills for Auditors
- How to Data Mine Your Print Reports
- Ethics and the Internal Auditor
- When Data Visualizations Just Don’t Work: The Rise of the Auto-Extractors
Ethics and Internal Audit
AuditNet® Adds New Key Word Files and Webinar Recording Options (Downloadable or on a Flash Drive) Did you miss our Minutes to Analytics Data Analytics Webinars? Not to worry - we have loaded the 2016 Minutes to Analytics Webinars on a flash drive including the recordings, data files, slides, and an app so you can watch the training at your convenience. The flash drive with all the recordings and files are available for $199. You can use these on your laptop when you are on the road, your desktop in your home or office or use them for training your staff. Check out the Webinars on the drive with a link to pay at this article. Unfortunately we cannot offer CPE for viewing these Webinars however at $199 is a great deal and of course the knowledge is "priceless"!
ADDED BENEFIT: Order any of our audit training on a flash drive (Minutes to Analytics, IT Audit Training, IDEA Audit Training) and you will receive Data Mining for Payroll Fraud on DVD at no extra charge. This is a limited time offer. Add a Premium Subscription to any Training on the Go Flash Drives for only $100! The following AuditNet®training is available on flash drives:Available Webinars on a Flash Drive or Downloadable from Google Drive (including Key Word Analytics)
- Minutes to Analytics
- IT Audit (Basic and Advanced (10 recordings)
- IDEA Audit Software (12 recordings)
- IT Fraud (2017 Series 8 recordings
- Internal Audit Basics 8 Recording)
- Auditing with Excel
- Auditing with ACL
- Cybersecurity for Auditors
- Data Analytics for Internal Auditors
Can't make our live Webinars? Then here an option to watch out previously recorded webinars and earn CPE. We are making all our Webinars available on-demand with CPE from cRisk Academy. You can view the recorded Webinars for only $9/month for AuditNet® Subscribers (Basic, Premium and Site License Users). $59/month for non-subscribers. Subscribers pay $600 less annually! cRisk Academy subscriptions provide on video on demand with CPE for all of our recorded Webinars for one low monthly fee (not per Webinar).
SUBSCRIBERS BENEFIT! AuditNet® current paid subscribers (basic and premium) and enterprise site license users enjoy the benefit of registering and attending AuditNet® featured Webinars without paying an event fee (does not apply to no cost or trial subscriptions). Those who attend will earn CPE. The bottom line is that subscribers have the ability to download AuditNet® content AND earn CPE by attending our AuditNet® featured Webinars! Attendance at our featured Webinars will be limited to the first 1,000 AuditNet registered subscribers and site license user attendees logging in so it is important to register for the events and then log in early on the scheduled day. Due to the limitation on Webinar seats non-subscribers can register and attend the Webinars but must opt-in for our mailing list. Non subscribers or non site license users who attend and want CPE must meet our eligibility criteria and pay a processing fee for CPE. Non-subscribers or non site license users who chose to opt-out will not be approved to attend and their registration link will be revoked. AuditNet® reserves the right to deny any user attendance to the webinars if they opt out of our mailing list. The CPE, registration, and attendance policy is subject to change at our discretion.
AuditNet® and Richard Cascarino and Associates offer a structured learning curriculum for IT audit. The recorded courses are designed to build on skills developed from prior knowledge or training. Auditors can choose between the complete series or pick and choose specific recordings depending on both needs as well as budgetary financial constraints.The study program consists of 5 modules Basic and 5 modules Advanced spanning a broad range of topics and issues in the IT Auditing. The emphasis is therefore on practical aspects of internal auditing.The course content is based upon ISACA Framework which has been accepted world-wide as the basis of skills and competencies required for all IT Auditors. (Please note these recordings are presented by a partner of AuditNet® with no CPE provided. Any questions or details of the recordings should be directed to Richard Cascarino. IT Audit Recorded Training (no CPE) 10 2 hour Webinars Click here for more info.IDEA Recorded Training (no CPE) - a series of twelve 2-hour recorded webinars designed to build on skills developed from prior knowledge or training. Auditors can choose between the complete series or pick and choose specific recordings depending on both needs as well as budgetary financial constraints.
The following recordings of our events are available on our recording site. You must register in order to view these recordings.
Essentials for Conducting FCPA Audits
BYOD Risk, Control and Audit
Using Keyword Analytics on Unstructured Data Data Files including over 3,000 keywords available for $79