Audit & Risk

Off the wire

Our regular listing of key news stories on the internet.

in News.

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Understanding the importance of internal audit

Local Government Chronicle, 20 September 2012

Spending time, effort and money therefore on activities such as internal audit may not feel like “saving” but a focus on audit and compliance can, in fact, pay significant dividends for councils.
bit.ly/OeuknY

Top 10 reasons why frauds occur

Metro, 14 September 2012
In a blog for Metrol, Ken Frost, FCA, writes that in his roles as head of internal audit and international forensic co-ordinator, in both Philips and De Beers, he has had many years of experience investigating frauds. Based on this experience he has put together his personal “top ten” list of reasons why frauds occur.
bit.ly/Qp7Exp

Focus on risk, not rotation

Financial Director, 20 September 2012
Rather than enforce mandatory rotation, European regulators should be improving auditors’ risk management.
bit.ly/Uhwtk6

UK aid programme better value for money after DfID audit, says watchdog

The Guardian, 19 September 2012
Review of aid spent through multilateral agencies praised for bringing greater transparency and more efficient funding.
bit.ly/VfCThC

EU MEPs push back “diluted” audit reform plans

Accountancy Magazine, 19 September 2012
Companies should have two auditors to check their books, MEPs have suggested in a move that seeks to strengthen proposals to increase competition and reform the audit market.
bit.ly/PLfH6U

The IIA: find out more

Visit the main IIA site

Jobs

Senior Auditor

Bedford
£30,851 - £33,661, Part-time, 18.5 hours per week, Quote ref: P000563

Internal Auditor

Greater Manchester
Salary between £24,671 and £41,954

Careers advice

Moving up

Two former heads of internal audit explain what the role taught them and how it helped to prepare them for a seat on the board.

Every secondment counts

If you are offered a temporary work placement with another employer – perhaps even in a different function from internal audit – you’d be well advised to jump at the chance. So says Chris Monk, whose organisation, Uniac, and its staff have long reaped the benefits of secondments.

The inbetweeners

Historically a stopgap for internal auditors searching for a more permanent role, interim management is now more likely to be the consequence of a positive and actively chosen career path. Why has it become such a growth area? Barclay Simpson's Andy Whyte explains.

Training & Development

Challenging conversations are habit-forming

“Any challenging conversation needs to be handled with care because people need to be handled with care. Forget this at your peril,” says Adrian Thompson, chief internal auditor, Norfolk County Council.

Q&A

Our technical helpline provides valuable advice to members on a host of professional issues. Here are some of the questions you’ve submitted recently.

Erratum: Audit & Risk

In the November/December 2012 edition of Audit & Risk magazine, an error appeared in the listings of the IIA members who were successful in the June 2012 exams.

Tools

You asked us

Our technical helpline provides valuable advice to members on a host of professional issues. Here are some of the questions you’ve submitted recently.

A world of knowledge

The IIA is always working to produce guidance aimed at helping internal auditors to stay at the cutting edge of best practice. Pauline Scott, technical coordinator, reports on the technical team’s recent work to support members.

EQA FAQs

The institute’s technical manager, Chris Baker CMIIA, explains the value of an external quality assessment, what happens during the review process – and how best to prepare for one.