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  1. Home
  2. Internal Audit Insights

Internal Audit Insights

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2020-07-06 09:49:04
Featured Article:

WHITE PAPER: Internal Audit Has an Innovation Problem. Data Analytics Can Help.

By Kit Shields
July 06, 2020
In today’s economy, success is synonymous with technological innovation. Technology is driving rapid change in every sector of business. Machine learning, artificial intelligence, the Internet of Things, cloud computing, drones, bots, and blockchain are transforming not only the nature of work but the means of survival.
2019-11-11 13:13:25

How to Take Your Data Analytics Program to the Next Level

By Joseph McCafferty
November 11, 2019
Internal audit departments that pursue data analytics without fear will soon be expanding their capabilities and unlocking the powerful potential of what it can do.
2018-12-13 05:18:05

Implementing Your Audit Department’s Top Technological Audit Practices

By Marcos Colón
December 13, 2018
Data analytics is being leveraged more than ever by internal audit departments, but for those that haven't jumped on the bandwagon yet, this interview with CVS Health's head of data analytics explains the benefits, challenges, and misconceptions tied to the technology.
2018-10-23 05:53:55

Using Histograms to Better Understand Data

By Hernan Murdock
October 23, 2018
Histograms are a very powerful tool to analyze data because they show the distribution of a continuous variable in a diagram and their appearance is similar to bar graphs. In this feature article, MISTI's Dr. Hernan Murdock explains how internal auditors can leverage them.
2018-08-30 05:08:40

The Pareto Diagram: A Tool for Internal Audit to Focus on What Matters Most

By Hernan Murdock
August 30, 2018
As internal auditors increase their use of data analytics to better understand process characteristics, isolate issues and perform more accurate root cause analysis, the Pareto Diagram continues to grow as a useful tool for them.
2018-08-16 05:58:29

Training the Internal Auditors of Tomorrow

By Karen Kroll
August 16, 2018
As the business world changes at an accelerating rate, auditors need to keep up or risk becoming irrelevant and unable to provide the insight that will allow their organizations to succeed. That means they’ll need to continually add to their skills and knowledge.
2018-08-09 05:32:43

Internal Audit Data Analysis Using Benford’s Law

By Hernan Murdock
August 09, 2018
Organizations are accumulating large amounts of data and internal auditors are rapidly increasing their mining for, and use of, these sizable data sets. This proliferation of data raises the question of how to extract meaning from it all.
2018-01-30 06:36:11

Speed up Your Audit Team's Performance with Data Analytics

By Sarah Swanson
January 30, 2018
Given the talents and skills that auditors possess (analyzing data, spotting trends, forming conclusions), auditors are in a perfect position in a company to be part of data analytic innovation. This article proposes a plan to fill in the gaps and implement data analytics in the business.
2017-10-03 06:27:00

How Internal Auditors Can Gain Data Analytics Experience

By Joseph McCafferty
October 03, 2017
Internal auditors with data analytics expertise can earn a premium and weild more influence in internal audit departments, but getting started may take some initiative and a little creativity.
2017-07-06 07:51:49

What Internal Auditors Must Do To Remain Relevant

By Hernan Murdock
July 06, 2017
As internal auditors, we work in complex and demanding environments where business, social, and other dynamics challenge us to meet the increasing expectations of upstream management.
2017-06-23 14:30:00

So, Why Are You Still Not Using Data Analytics?

By Dave Coderre
June 23, 2017
Study after study has shown that data analytics is effective and efficient at detecting risk and identifying control weaknesses, non-compliance, and inefficient business processes. So why have some internal audit departments still not embraced it?
2016-12-22 11:20:00

The Top 10 MISTI Internal Audit Articles of 2016

By Joseph McCafferty
December 22, 2016
It's been a busy year for internal audit. Below are the top 10, most read articles from MISTI's Internal Audit Insights for 2016.
2016-10-17 11:30:00

How Data Analytics Can Detect Fraud and Transform Internal Audit

By Joseph McCafferty
October 17, 2016
Among the most powerful tools these days to detect and deter fraud is data analytics. While some internal audit departments struggle to use sophisticated analytics tools and continuous monitoring, those that do have a leg up on rooting out fraud and finding it in unlikely places.
2016-10-04 16:00:00

Four Big Challenges Facing Internal Audit

By Joseph McCafferty
October 04, 2016
FedEx Chief Audit Executive Robert King on what internal audit departments need to do to rise to the occasion.
2016-10-03 16:30:00

How Technology Is Changing the Internal Audit Function

By Joseph McCafferty
October 03, 2016
Whether it's data analytics; governance, risk, and compliance solutions; or planning and collaboration software packages, most internal audit departments are looking to improve their use of technology as they strive to do more with less.
2016-09-28 09:08:00

MISTI on Audit: Top Attributes of a World-Class Internal Audit Department

By Joseph McCafferty
September 28, 2016
A look at some of the habits and characteristics that can take an audit department from good to great.
2016-08-10 15:08:00

Data Analytics Still in Early Stages

By Joseph McCafferty
August 10, 2016
Data analytics is supposed to be the great savior of the internal audit function. It has been heralded as the set of tools that will give organizations new insights into risk management, fraud, and corruption.
2016-06-22 12:30:00

How Internal Auditors Can Provide More Value to the Organization

By Joseph McCafferty
June 22, 2016
MISTI’s Joseph McCafferty sat down with Analog Devices' Tom O’Reilly at Audit World 2016 in Boston to discuss the latest trends impacting internal auditors.
2016-01-12 11:12:00

Safety in Numbers: How Data Analytics Can Enable Internal Audit’s Ambitious Agenda

By Joseph McCafferty
January 12, 2016
It’s no secret that internal audit is being pulled in several different directions these days and that the demands on the function are greater than they have ever been.  

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