GAO Green Book, GAO Yellow Book … will the Government Accountability Office (GAO) never cease creating books with colored covers? Next thing you know, the GAO will come out with a Purple Book! The GAO Green Book’s formal title is Standards for Internal Controls in the Federal Government. The GAO Yellow Book is also known as Generally Accepted […]
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When to get a new job: For audit professionals
When to get a new job: For Audit Professionals by Terry Owen What is the most important asset within your audit shop? I hope you answered loud enough that you startled those around you, “It’s the people!” Whether you’re a manager, a seasoned auditor or the newly minted MBA that just joined the team, you […]
Documenting Audit Findings – Part 2
Last week, I walked us through an example finding and showed how to support the finding with evidence. This week, I want to talk more about how you get there. As you will see, in order to reduce the hassle of documenting audit findings, it is best to start thinking about the elements very early […]
How to document audit findings
All auditors need to know how to document audit findings because audit findings are one of the two key deliverables of an audit project (the other is the conclusion against the audit objective, if you were wondering ☺). Here is a statement that performance auditors following GAGAS must include in their audit report: GAGAS 2018 […]
Qualities of a Strong Oversight Body
Something went terribly wrong. Maybe oil leaked into the Gulf or nursing home residents were being abused. Maybe a local pharmacy is selling opioids based on bogus prescriptions. I don’t need to go on, because you know the headlines. But what is to be done about it? Who do we turn to when management of […]
What an audit director needs to know
Congratulations! You made it. You are now king or queen of an entire audit shop. I am sure you have a more formal title – such as audit director, chief audit executive, or audit partner. But no matter your formal title, you’ve paid your dues by learning the critical skills of how to conduct an […]
What an audit manager needs to know
An audit manager has tackled the basics and is ready to lead an audit project, maybe multiple audit projects, from start to finish. Ideally, the front-line tasks – like testing and audit documentation – are left in the hands of audit staff so that the audit manager can concentrate on higher level tasks – like planning […]
Is your audit report sexy?
Audit report writing doesn’t have to be so hard. Problems in creating an audit report can be avoided. And reports can and should be sexy.
Are you ready for the changing role of internal audit?
by Terry Owen The pandemic and the changing role of internal audit have likely prompted you to make quick and sweeping decisions in order to continue to deliver for your stakeholders. I imagine that you have made an untold number of adjustments to the way you lead your audit team on-the-fly in 2020. Congratulations on […]
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