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BarnOwl Info Sharing Insight: Elevating Audit through Risk-Based Auditing with Continuous Monitoring with Anton Bouwer & Jonathan Crisp

June 25, 2020 11:39 am

BarnOwl Info Sharing session: 17 June 2020 Elevating Audit through Risk-based Auditing with Continuous Monitoring Presented by Anton Bouwer, Director, RSM South Africa and Jonathan Crisp, Director, BarnOwl Thank you very much to RSM South Africa and Anton Bouwer for hosting this info-sharing event online on the 17th June 2020. Introduction The audit standards and definitions of audit make it clear that Internal Audit needs to transition from the business of providing subjective opinions on “control effectiveness” on a small fraction of the risk universe to ensuring senior management and the board are aware of the current residual risk status... Read more

6 Ways Risk-Based Auditing Adds Value to Your Organisation

October 26, 2016 2:15 pm

The value of the Internal Audit function is becoming increasingly critical to the strong corporate governance, risk management, effective internal control, and efficient operations of any organisation. The Institute of Internal Auditors (IIA) framework defines internal auditing as: ‘An independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes’ (IIA 2004:8). It is a common fallacy that the Internal Audit function exists to pick holes in management’s operations. This... Read more

4 Ways Auditors Can Add Value to Your Organisation

June 30, 2015 2:54 pm

The value of the Internal Audit function is becoming increasingly critical to the strong corporate governance, risk management, effective internal control, and efficient operations of any organisation. As per the IIA, “at its simplest, internal auditing involves identifying the risks that could keep an organization from achieving its goals, making sure the organization’s leaders know about these risks, and proactively recommending improvements to help reduce the risks”. It is a common fallacy that the Internal Audit function exists to pick holes in management’s operations. However, this is not at all the case. There are so many reasons to regard audit... Read more