Audit Report with No Exceptions? Three reasons to follow up anyway

“If you perceive that there are four possible ways in which something can go wrong, and circumvent these, then a fifth way, unprepared for, will promptly develop.” That is Murphy’s Law, and unfortunately it applies to internal control environments everywhere. Even when the audit testing has found no exceptions and the financials have been signed, […]

Compensation = Risk

How may compensation structures contribute to risk in organizations? Executives design strategies to lead their corporations toward excellence. In order to be effective these strategies must be communicated, so individual goals and objectives are created to align responsibilities across the organization. These objectives often are tied to monetary rewards for success. Employees, for the most […]

Internal Audit Risk Assessment Explained

Written by Sargon Youmara, Partner, Vonya Global Risk assessment is a recurring, systematic process for identifying and evaluating events (i.e., possible risks and opportunities) that could affect the achievement of strategic objectives, positively or negatively.  An Internal Audit risk assessment is an evaluation of risks related to the value drivers of the organization, covering strategic, […]

Musings From A Do-It-Yourself Mistake

Written by Steven Randall, Partner, Vonya Global And A Lesson For Chief Audit Executives This was a beautiful weather weekend in Chicago.  The conditions were ideal, mid 80’s temperature, low humidity, and plenty of sunshine.  It was likely one of the best weather weekends Chicago will have this entire year.  It was perfect for enjoying […]

International Operations – When Something Doesn’t Seem Right

Safeguard Your Assets and Protect Your Investment You have built your company into an international powerhouse. Whether through organic growth or through acquisitions, you have operations in other parts of the world. While nothing is perfect, business has been humming along. You’re hitting your growth numbers – which in this economy is saying something – […]

Internal Audit Maturity Model: A Better Way To Evaluate Internal Audit Departments?

Written by Steven Randall, Partner, Vonya Global Compliance with the Institute of Internal Auditors International Standards for the Professional Practice of Internal Auditing is a requirement for Internal Audit Departments around the world. As most already know, compliance is validated through an External Quality Assessment completed by an independent third party (such as Vonya Global). […]

Boardroom Digital Literacy: R U Talking to Me?

[This article was contributed by Fay Feeney, CEO of Risk for Good] Boardroom protocol is being exposed every day on the internet. Does Rupert Murdoch really think we can’t see beyond his prepared remarks to determine for ourselves the “tone at the top” coming from his boardroom? No need for board activists to add to […]

Policies and Procedures: a Project for Internal Audit

Are Policies and Procedures important? We certainly think so, unfortunately many companies have old, outdated Policy and Procedure manuals while some have none at all. As companies and internal audit departments are planning projects, consideration should be given to reviewing and updating the Corporate Policies and Procedures. Policies and Procedures are a company’s way of […]