Wednesday, 16 October 2013

Trust ,but don't be naive !

Today, I have attended IIA's Ottawa training session which focused on Asset Protection and Security( AP & S)  . Two mantras stuck on my head by the time we were done :

The first is :" AP & S is largely based on trust !"
The second :" Being compliant does not mean being secure "

While I agree with the second ,I have trouble with the first !

The examples of trust  provided during the session made me more skeptical ( i.e I trust you because A trusts you and I trust A ) !

 Trust is good ,but is not enough and certainly does not provide security .

Trust ,but verify !
Trust.but monitor !
Trust ,but don't be naive !

 In God we trust , others will be audited !

What do you think ?

Monday, 7 October 2013

Does industry specialization limit internal auditors careers?

Industry specialization is a good thing! This is at least what employers and hiring managers are telling us , because it improves  audit quality ! Not everyone agrees with this, a recent study by the University of Miami published in June 2013 concluded that there is no evidence to support such a claim!

But, is specialization good for us, the internal auditors ? Does it limit our career path to certain industries because the perception, for example ,is that if you are a bank auditor you can't  effectively audit a manufacturing company ?

The golden rule is that " you can't audit what you don't understand "! The question here is: does "understanding the operations " of an organization mean that you need to be an industry specialist ? I personally do not think so , understanding of operations is the key for a a successful audit and this understanding can be achieved in a relatively short period of time .

Please share your thoughts and experience .


Internal Audit as A Disruptor!

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