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The Virtual Auditor and the Human Element By Steve Stanek, KnowledgeLeader contributing writer
To properly fight fraud it is not enough to use leading technology solutions without hiring knowledgeable auditors. According to Patrick Taylor, CEO of Oversight Systems, it is necessary to use both. In this article, Taylor discusses the pros and cons associated with involving humans and technology in fraud audits and how teaming the two improves the end result.
Click here for the rest of the story!
This article was contributed by Protiviti KnowledgeLeader, an online service providing tools, templates, and other resources for internal audit and risk management. Free trials available at www.knowledgeleader.com.
For a limited time KnowledgeLeader memberships are available for the reduced rate of $595 per year. Tell them you heard about it from AuditNet.org. AuditNet® Community Sponsor News!
Thanks to Paisley and TeamMate for sponsoring the newsletter! The AuditNet® community has grown by leaps and bounds thanks to your continued support. Yes it is hard to imagine but it has been more a decade since this community was created! Support AuditNet® by supporting our sponsors. Without sponsor and affiliate advertising and contributions from the AuditNet® community everyone would have to pay for use of this site.
This month check out
Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. Corporate Defense Insights - Dispatches from the Front Line Role of Internal Controls in Corporate Defense
In this dispatch from the front line author Jim Kaplan, founder and CEO of AuditNet, shares his insights on the importance of internal controls and their role in corporate defense with Sean Lyons.
Reprinted with permission from RiskCenter
Click here for the complete interview!
Career Advice Q&A Executive Coaching – Is it for you?
author of How to Say it When You Don't Know What to Say: The Right Words For Difficult Times
When you hit a snag at work or your career seems to stall, it’s easy to feel uncertain where to turn. Wouldn’t it be helpful to find a knowledgeable and impartial party to help you sort things out and create a plan? That’s where coaching can be beneficial but, is it worth the price? Margaret Meloni, an executive coaching consultant, http://www.melonicoaching.com, shares her insight into the benefits of coaching so you can decide whether it’s a fit for you.
For the Q&A click here!
Get a Free Resume Analysis! AuditNet Adds a New Career Feature: The Resume Tune-Up.
Nationally recognized resume expert and author of
How to Say it When You Don't Know What to Say: The Right Words For
Difficult Times If you would like your resume to be considered for a tune-up, please e-mail it to Ms. Kaplan. You will be notified by e-mail if your resume is selected. You will need to make yourself available via e-mail to answer a few questions with a tight deadline. Ms. Kaplan will send a critique and suggestions to the individual selected and a summary Resume Tune-Up will appear in the monthly newsletter column. If selected you give AuditNet the right to display your resume for the column. AuditNet® What's New This Month? From the Editor!
AuditNet is working on new initiatives to incorporate audit content into other software applications. AuditNet has always supported new solutions and has encouraged start ups and other software vendors to enhance their products for both the mainstream as well as the small internal audit functions. We will continue to seek out opportunities that offer the global audit community new ways of doing business.
In conjunction with the Linkedin Professional Audit Information Networking (PAIN) Group established in December 2007 we added a mapping application that demonstrates where AuditNet users live and work. The PAIN group provides an opportunity to tap into a global network of auditors. To add yourself to the map click here. To join the PAIN group click here.
AUDITNET® SURVEYS New Survey on Fraud Awareness Training
According to research conducted by the Association of Certified Fraud Examiners (ACFE), U.S. organizations lose an estimated 5 percent of annual revenues to fraud. Based on the estimated U.S. Gross Domestic Product for 2006 – $13.037 trillion – this percentage indicates a staggering estimate of losses around $638 billion among organizations, despite increased emphasis on anti-fraud controls and recent legislation to combat fraud. Does your organization have a fraud awareness training program in place? We are conducting a survey to determine whether organizations have a program in place and key factors in how it is organized. Help out your fellow auditors by taking this short survey? We have received over 100 responses and the results will be shared in the August newsletter.
Click Here to take the Fraud Awareness Training survey
Previous Surveys
Pay by Phone or FAX AuditNet is now set up to accept credit card payments for subscriptions by phone or fax. If you are interested in this option click here! Writing for AuditNet? AuditNet Editorial Guidelines Based on the number of articles being contributed to AuditNet we have developed editorial guidelines for future submissions. If you are planning to write an article please review the guidelines before submission. We appreciate receiving material from the global audit community in the interest of sharing knowledge. We are also in the process of guidelines for book reviews and other material submitted for inclusion on AuditNet. Get Audit Related Books Free! Interested in developing your writing skills with having access to the latest audit and business related books? AuditNet is looking for auditors that would like to review books for the benefit of the audit community. This is an excellent way to build your professional publication library and provide a valuable service for AuditNet users. A list of available books will be provided on request. For the guidelines click here. New Benefits of Registration AuditNet receives many questions on what kind of audit related information is available on the Internet and where to find it. As a result of my research to find the answers to those questions I discover value added resources that are useful for auditors. In the past these resources would have been added to the AuditNet Links Page (aka KARL). To provide an incentive for auditors to register on AuditNet I will begin loading these links to a special page that is only available to registered users. Also expect more resources to transition to the registered users area.
AuditNet continues to forge new relationships with professional associations and audit and accounting sites to provide auditors with access to audit work programs.
Group Access to AuditNet Audit Programs.
Join the other groups such as CCH TeamMate, Protiviti KnowledgeLeader and the Association of Healthcare Internal Auditors that have access to all of the AuditNetNet audit programs.
If you want your group or professional association (IIA, ISACA, ACFE, ACUA, ACUIA etc) to have transparent access to AuditNet audit programs and other content as a benefit of membership contact your professional association official or group leader and ask them to pursue this with AuditNet. Fraud News Feed Go to the AuditNet Fraud Resource Center and check out the fraud news feed to keep up to date with media reported fraud happenings. Audit Programs The audit programs section of AuditNet requires registration in order to access. New audit program contributions are available only to paid subscribers or on a one-for-one exchange basis. There are over 80,000 registered users. A multi-user subscription rate was added to the individual subscription program to the premium content. Organizations that need more than 2 staff members accessing the service will benefit from this new rate. There are new additions to the premium audit programs available as an alternative for those auditors that are unable to contribute material to AuditNet®. Site licenses are also available for organizations with more than 15 users. The best way to find all the resources on the site is by going to the Virtual Library or use the site search. IIA Technology Audit Guide Series
Each Global Technology Audit Guide (GTAG) is written in straightforward business language to address timely issues related to information technology management, control, or security. GTAG is a ready resource series for chief audit executives to use in the education of members of the board and audit committee, management, process owners, and others regarding technology-associated risks and recommended practices.
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Interview
by Robbie Miller Kaplan 
,
Robbie Miller Kaplan will select one auditor resume each month and
suggest ways to transform the resume from passable to powerful. 
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Not all psychopaths become fraudsters, but some fraudsters are
psychopaths. A fraud examiner's job is to help deter fraud by discretely
noticing those employees who might be exhibiting psychopathic
tendencies. Psychologists Robert D. Hare, Ph.D., and Paul Babiak, Ph.D.,
experts in psychopath studies, explain how these aberrant characters can
infect organizations and provide ways to deal with them.
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This article is from Fraud Magazine, the professional magazine
of the Association of Certified Fraud
Examiners
ACFE FraudInfo Newsletter click here!
New Guidelines Aim to Reduce Fraud
Leading professional associations:
“Saying you ‘don’t want fraud’ is not enough!”
ALTAMONTE SPRINGS, Fla. – New guidelines for fighting fraud have been
released jointly by three leading professional organizations.
“Managing the Business Risk of Fraud: A Practical Guide” is sponsored by the
Association of Certified Fraud Examiners (ACFE), the American Institute of
Certified Public Accountants (AICPA), and The Institute of Internal Auditors
(IIA). Principles for establishing effective fraud risk management,
regardless of the type or size of an organization, are outlined in the
guide.
Click here for the Guide!
Dan's Internal Audit Corner
Some Summer Reading
Part Two
By Dan Swanson
1. Summer is a time of recharging, of planning for the future, of preparing for the next challenge. Summer is also a time to unwind and relax and spend time with the family.
2. Every September and October we take on a 100 different priorities so make sure your August reading prepares you for your short and long term priorities.
3. Review each listserv and e newsletter you belong to and analyze their relevance to your future, i.e. drop some, add some new ones, and most important make everything coming into your in box high impact.
4. Finally, you should develop a personal learning plan that will help you decide whether you should discard, skim, read, study, or deeply analyze and intimately learn each resource that happens to comes through your inbox each day.
Have a great summer.
Dan Swanson
Have a great summer.
Dan Swanson
Click here for this month's resources!
Also check out the latest IT and Information Security Titles Published by Taylor & Francis!
Have another great month.
Regards,
Dan
AuditNet® Conference & Training News
Want to announce your professional association conference to the global audit community? Send us conference name, date and URL details. (A reciprocal link to AuditNet is required). AuditNet supports co-marketing sponsorship agreements for conferences on a case by case basis.
The IIA International Conference was held in San Francisco from July 6-9, 2008. Click here for a first person account from the event provided by Jim Ritchie of CorpGov.net, the Corporate Governance Network since 1995.
Webinars from Knowledge Congress
FAS 109: FIN 48 Accounting for Uncertain Tax Positions For Fund Managers September 3, 2008
The Many Repercussions of Section 6694 September 16, 2008
Audit World 2008* September 15-19, 2008, Boston, MA
IIA Conferences:
* indicates events where you can meet Jim Kaplan
Coming Attractions!
Benchmarking for Auditors
AuditNet is building a benchmarking network of resources for the internal audit community. Watch for new links and resources as well as opportunities to benchmark your audit function against others as well as tap into benchmarking and best practices resources and sites. There is a great deal of interest in this type of tool so stay tuned for updates!
AuditNet is working with professional associations to provide access to the audit program inventory. Stay tuned!
The AuditNet Monograph Series provides useful guides for all levels of auditors from juniors right up to audit directors. As soon as I can make some time I will be working on new guides for Sarbanes-Oxley, internal controls and Internet for auditors and other relevant subjects. These guides will be available to registered subscribers. If you are interested in developing a monograph on a contract basis, contact us.
Watch for new articles on Sarbanes-Oxley, Information Security, Software Auditing, CAATTs, DATTA and more from contributors. Reviews are in the works for more audit and SOx books. Watch the newsletter for more products, services and tools for auditors. Have an idea for a column? Contact us.
AuditNet® continues adding new specialized resources for auditors. Watch the newsletter and keep checking the Library page for updates and new resources.
AuditNet will be hosting a series of Webinars on Auditing Active Directory. Following are the titles, dates and times for these events.
CAN’T MAKE THE LIVE EVENT? Register anyway to receive a link to the recorded Webinar.
Auditing
the Windows/Active Directory Environment Thursday, August 7, 2008 12:00 PM - 1:00 PM EDT
Active
Directory Audit: Factoring in Integration with Other Applications,
Databases and Platforms Thursday, September 4, 2008 12:00 PM - 1:00
PM EDT Understanding Active Directory Structure and How It Makes Auditing AD Different Thursday, October 2, 2008 12:00 PM -1:00 PM EDT
Assessing the Risk of Trust Relationships in Active Directory Thursday, November 13, 2008 12:00 PM -1:00 PM EST |
 PricewaterhouseCoopers helps you "Uncover the Gap" in process performance through Global Best Practices® complimentary benchmarking opportunity
How can you uncover the gap between your
organization's current performance and the suggested, more optimal way
to perform the process? Benchmarking can often help provide the answer.
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Exec Information Security Check List
by Ron Lepofsky
ERE Information Security Auditors
In 2008 compliance to security and privacy standards is a motivator for executives invest in minimizing both their personal and corporate liability.
Indeed there are a plethora of standards including:
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Sarbanes – Oxley in the USA and the comparable Bill 198 in Canada, for publicly listed corporations.
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NERC CIP for electricity generation / transmission utilities, both in the USA and Canada.
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Privacy standards such as HIPAA in the USA and many Canadian standards such as PHIPA, FIPPA, PIPEDA, and RCMP/CSE TRA for custodians of medical and personal information.
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Industry standards such as ISO 27002, ISO 17799, NIST, ITIL, CISA (ISACA), CobiT.
Not surprisingly these various standards all require basic age tested security fundamentals. An executive concerned about security and privacy may want to take action if any of the following 10 simple facilities are not in place:
For the 10 facilities click here!
International Financial Reporting Standards (IFRS)
Auditors need to stay current on trends that affect what they do and how they do it. Nothing could be more in the forefront on the auditor's radar screen then IFRS or global standards for financial reporting. To this end, AuditNet has created a page devoted to the switch from GAAP to IFRS. AuditNet is also building a library of documents related to the new reporting standards.
Click here for the tools and resources we are developing for you.
Recovery Auditing: Reducing Profit Leaks
Audit Work Programs Corner
30 Day Trial to the Premium Section
Access to the free audit program section now requires registration. The following audit programs, ICQs, checklists or working papers were added this month. They are available on a 1 for 1 exchange for an original audit work program not currently in the inventory. If you unable to share audit programs then consider subscribing to the premium content which provides you with access free and premium content 24/7/365. Interested in previewing all the programs in the premium content section? Contribute an original audit work program not currently in the inventory and receive a 30 day trial subscription to the premium content. Contribute 5 programs and receive a one year trial subscription. (Offer only available for new programs submitted).
CCH
TeamMate users now have access to all the AuditNet audit programs in
TeamStores format. Access through the TeamStores support site.
E-Book for
Subscribers to the Annual Audit Programs
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Pharmaceutical Distribution Inbound Logistics Control-Pharmaceutical (August 2008)
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Distribution Inventory Management-Pharmaceutical (August 2008)
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Distribution Inventory Quality Information Management-Pharmaceutical (August 2008)
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Distribution Outbound Logistics Control-Pharmaceutical (August 2008)
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Distribution Procurement Contract Management-Pharmaceutical (August 2008)
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Distribution Service Level Agreement Management-Pharmaceutical (August 2008)
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Distribution Transportation Management-Pharmaceutical (August 2008)
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Distribution Vendor Selection-Pharmaceutical (August 2008)
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Distribution Warehouse Labor Management-Pharmaceutical (August 2008)
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Distribution Warehouse Management-(August 2008)
Ask the Auditor
Each month I select one question submitted to Ask the Auditor and provide an answer using the same digital tools and techniques that I recommend to all auditors.
Challenges of Auditing in a Global Environment
Q: We have recently acquired company's located in South America, Central America and Africa. From an audit perspective, we are faced with the challenge of language barriers as existing staff only speak English. We are thus contemplating employing or contracting the services of a specialist internal auditors that can speak Spanish, French and/or Portuguese, either locally in SA or based in South America or East Africa.
I am wanting to establish whether other Internal Auditors have been faced with this challenge and what they have implemented to overcome it?
A: (Thanks to Jill Benson) Depending upon how the organization (including Audit) is structured, you can tackle it several ways. If your organization has a strong presence in those locations, you may consider engaging local auditors within each region (bear in mind that getting consistent value and quality may require significant oversight by your organization (IA). If you don't have a strong business presence in the regions, you may want to consider using a provider with a strong network in those regions or with the skills you require. By using a single provider, you can coordinate and communicate consistent messages and it will be less time intensive for the organization to manage quality and consistency. However, this will typically mean it will cost more per hour and you will have to pay for some level of coordination (however, if there is an offsetting saving by not hiring internally, it may not cost significantly more). If language is a significant hurdle that the organization cannot provide, it would be difficult to go with the first option. If it was me, I would find a partner who is located the same place I am and serve me in the regions where I need assistance.
More discussion on this question can be found at LinkedIn Answers for auditing by clicking
here.
For those auditors who have not seen the power of using a networking group, I recommend a visit to LinkedIn
If you have a question for Ask the Auditor click here!
Looking to Earn Some Extra $$?
AuditNet is interested in developing a series of SOx or industry related audit programs for organizations. If anyone is interested in writing audit programs, ICQs, questionnaires, or control matrices on a work for hire basis please contact me. If you may know of anyone who would be interested in this as well please pass along my contact information.
AuditNet Construction Corner News
POLITICAL &
ECONOMIC CHANGES ON CONSTRUCTION INDUSTRY
IMPACTS & MITIGATING SUGGESTIONS
By Gursharan Singh
The scope of Construction Projects [‘Projects’] includes Construction [of Buildings
and Infrastructure], Procurement of Assets/Machineries/Materials/Consumables and Services of Technical and other Professionals. The Industry players, their management, financial and audit professionals should be aware of the adverse financial and legal impact on the various aspects of the planning, design and implementation of their ‘Projects’ during present times of economic turmoil.
For the rest of the story click here!
AuditNet Sarbanes-Oxley News
Low Cost SOX Compliance Readiness Tool
Exclusively for AuditNet
Looking for a low cost ($100) solution for SOX compliance? The Compliance Readiness Tool™ allows organization’s to evaluate the effectiveness of their information technology environment and controls in relation to section 404 of SOX and the Committee of Sponsoring Organizations (COSO) internal control framework.
For more information click here!
There are plenty of articles in the news on the topic of Sarbanes Oxley. Here is a link to a site that does the research and provides you with links to all the relevant stories.
AuditNet Career Center
Auditors Looking for Jobs!
Companies Looking for Auditors!
The Matching Service for Auditors!
Go to the AuditNet® Career Center now for the latest job opportunities and career-related information and tools. 24 hours a day, 7 days a week you have the ability to not only look at available jobs, but you can also post your resume, apply for open jobs, research companies and obtain career advice. If you are in the market for a new job, make AuditNet® your first stop to check out what's available.
If your company has any audit job vacancies that you are looking to fill, have your HR people contact AuditNet® to post the job and search for candidates.
This is just another benefit of using AuditNet® as your one stop shop for all your audit and career resources.
AuditNet® Book Reviews
AuditNet® Fraud Auditing Corner
Fraudster Profiles
Looking for a great way to educate employees on how an ethical employee goes to the dark side, and the consequences of poor internal controls?
Check out the following video from one of Gary Zeune's speakers.
Former attorney Fred Shapiro explains the "why" the " how" & the "rush" of committing the largest bank, real estate & title insurance fraud ($8.6M) in the history of the City of Philadelphia. He tells CNBC's Donny Deutsch about the real causes of white-collar crime; the catastrophic personal & professional consequences to Fred and his family; why he turned himself in; and how he laundered drug money for the U.S. Attorney.
Click here for the link to the video.
Gary Zeune has the ONLY speaker's bureau in the country specializing in white-collar criminals — The Pros & The Cons. Mr. Zeune's speakers tell their stories of how and they committed their crimes. Their frauds range from $18,000 to $350 million. Speakers include CPAs, attorneys, and business people.
AuditNet® Software Compliance Audit Corner
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Auditors Need To Consider Wireless Security Risks by Rob Harmer PCProfile
As an auditor you are probably heavily reliant on technology
in terms of performing your audit duties, gathering data,
writing up reports, and submission of audit summaries to
clients. In many cases this means travel and travel means
mobility, which in most cases requires a wireless type
connection for collecting email/Internet and report
submissions etc.
For the rest of the article click here!
Click here for a special offer and late-breaking software compliance news!
Monograph on Software Compliance Auditing: Looking for a Career Change? Registered users can read the complete monograph by clicking here! Registered AuditNet users can send for 20 free software compliance articles. Login to your account and click on the link to receive the articles by email. Also the following articles should interest you! Microsoft has started a program recently in UK that has wide reaching implications for smaller and medium sized organizations, that auditors need to be aware of to minimize risk. More details can be seen by clicking here! |
Your Secret Weapon in the War on Fraud
White-Collar Crime Fighter brings you expert strategies and actionable advice from the most prominent experts in the fraud-fighting business. Each month you’ll learn about the latest frauds, scams and schemes... and the newest and most effective fraud-fighting tools, techniques and technologies you can put to work immediately to protect your organization.
Click here for the latest e-newsletter and subscription details.
The AuditNet® Audit Bookstore Corner
Looking for books on auditing related topics? We suggest using the AuditNet® bookstore. The bookstore focuses on Internal Audit but includes other related subjects as well. AuditNet® uses Amazon to power the bookstore so each purchase you make through this link helps support AuditNet®.
How to Say It When You Don't Know What to Say The Right Words for Difficult Times
By Robbie Miller Kaplan
As auditors we constantly interact with diverse stakeholders such as colleagues, managers, employees and others. Frequently we encounter people dealing with challenging and difficult times that may or may not be related to work. Our reaction to these situations is conveyed in our behavior both nonverbal and verbal.
For the rest of the review click here.
AuditNet® Vendor News
Check here for the latest news from our AuditNet® sponsors!
Then check out the CCSA Study System published by Pleier Corporation.
Using the "McKeever CCSA Study System" will improve
users' probability of successfully passing the IIA CCSA exam
by teaching users to answer the type of questions typically
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users identify CCSA domains that require their additional
study and lists references useful for any additional study.
The "McKeever CCSA Study System" is available in 2
versions - a 288-page spiral-bound workbook and CD-ROM (for
those who prefer clicking a mouse to turning pages) - for
details click
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DISCOUNTS TO AUDITNET READERS
As a reminder, Pleier Corporation offers 10 % discounts to
AuditNet readers at
www.pleier.com. To take this discount order online and
enter the word AUDITNET in the coupon field at checkout.
Click here for opportunities to share your knowledge and earn royalties
Exceeding Expectations for Internal Auditors
AuditNet® Resource List
Please let us know of links that are not working!
Click here for the latest update!