by Kenneth Ramaley | Feb 12, 2020 | Audit Musings
I recently conducted a great session for the Dallas IIA Chapter on using Six Sigma tools in the practice of internal audit. I always enjoy leveraging my IIA Certifications and my Six Sigma Master Black Belt to improve audit efficiency. As I was driving to the airport... by Kenneth Ramaley | Jan 24, 2020 | All Blogs, General Audit Culture
Every Staff Auditor knows how to interview audit clients. But that isn’t enough when they become an Auditor in Charge. Last week, we discussed the general lack of training as auditors move up the chain from Staff Auditor to CAE. In this second part of the... by Kenneth Ramaley | Jan 17, 2020 | All Blogs, General Audit Culture
I was once approached by a new Chief Audit Executive named Mary (name changed). She was concerned because she couldn’t get management to pay serious attention to the issues her team was identifying. Furthermore, the Audit Committee didn’t seem to have her... by Kenneth Ramaley | Jan 10, 2020 | All Blogs, Emerging Risks
“Expect More from your Checking Account” “15 Minutes Can Save you 15% or more” “Consistent Low Prices” Brand slogans and taglines are everywhere. Most companies have more than one such statement that pervades their advertising and... by Kenneth Ramaley | Jan 3, 2020 | All Blogs, General Audit Culture
Are you sure that your Auditors are spending time on the biggest risks in your organization? One of our clients, a large financial services firm, thought they were doing risk-based prioritization until I simply asked one of their auditors “Why?” Here was... by Kenneth Ramaley | Dec 27, 2019 | All Blogs, Audit Efficiency
In our last post, we discussed the December audit work crunch. We suggested that starting this year’s plan on 1/1 and completing it on 12/31 is not optimal for the customers of that process (the board and management), nor for the producers of the deliverable... by Kenneth Ramaley | Dec 20, 2019 | All Blogs, Audit Efficiency
I think most auditors would agree that “As Busy as an Auditor in December” is part of the industry vernacular. Non-essential tasks fall by the wayside as auditors find themselves crunching at year-end. Between finishing up this year’s jobs, doing... by Kenneth Ramaley | Dec 13, 2019 | All Blogs, Audit Musings
Have you noticed that once you start thinking like an auditor, you just can’t turn it off? I was speaking with a relative recently who had been given some prescription eye drops. The prescription label which had been stuck onto the pharmacy bag said to apply... by Kenneth Ramaley | Dec 6, 2019 | All Blogs, General Audit Culture
Have you ever tried to solve a BIG PROBLEM using standard audit tools and methods? What do you do if you just can’t figure it out? Sometimes the most significant audit findings can come from asking the most basic (naïve) questions. I was brought into a situation... by Kenneth Ramaley | Nov 29, 2019 | All Blogs, Audit Efficiency
Happy Black Friday! After a wonderful family holiday on Thanksgiving Day, many Americans celebrate by going shopping! Black Friday, the day after Thanksgiving Thursday, is typically the busiest shopping day of the year. Retailers entice consumers with substantial...