Magazine

f e a t u r e s 28 COVER Beyond the FCPA Strong internal controls and effective

f e a t u r e s 28 COVER Small Audit Functions, Big Ideas Audit departments

f e a t u r e s 30 COVER By the Book When auditing governance, diplomacy

f e a t u r e s 60 On Unfamiliar Ground Auditing marketing operations is crucial to addressing

Features 58 Life After Audit Former practitioners are using what they learned in internal auditing to add value in their new

F E A T U R E S 58 What’s Your Brand? An internal audit department that

FEATURES : 36 COVER STORY: Facing IT Risk Head-on Internal audit departments must confront constantly emerging technology

    Features : 36 COVER Enterprisewide Business Continuity When planning to ensure continual availability of critical business

Step Up to the Plate For years, internal auditors have been known by many epithets — “eyes and ears,” “police,”

Internal auditors should strongly consider a risk‑based approach to audits of governance.

Should internal audit departments audit governance processes? Can they assess board operations effectively? Isn’t that the responsibility of the board itself, generally through a governance committee? Are auditors sufficiently independent, since they report to the audit committee, and do they have the necessary skills?

These are questions I often hear when the profession’s thought leaders suggest
we need to include audits of governance processes in the audit plan. Nonetheless,
professional guidance and research indicate that this will be a priority for internal
auditors in the coming years. In The IIA’s latest Common Body of Knowledge
(CBOK) report, for example…