All Things Internal Audit

The Institute of Internal Auditors Presents: All Things Internal Audit

In this episode, Mike Levy talks with Mike Jacka about the growing role of advisory services in internal auditing. They discuss how today's internal auditors are offering strategic insights that go beyond assurance work. They also cover how to balance objectivity with advisory work, how to fit advisory into audit planning, and how to show the value of these services.

Host:

Mike Levy, CIA, CRMA, chief executive officer and managing principal, Cherry Hill Advisory

Guests:

Mike Jacka, CIA, CPA, CPCU, CLU, chief creative pilot at Flying Pig Audit, Consulting and Training Solutions

Key Points:

• Introduction [00:00-00:06]
• The role of advisory services in internal audit [00:07-00:27]
• Balancing objectivity with advisory work [00:28-02:06]
• Early engagement and its impact on risk management [02:07-04:49]
• Real-world example: social media consulting [04:50-05:56]
• Advisory services in small vs. large internal audit functions [05:57-07:06]
• Pre-implementation reviews as a key advisory opportunity [07:07-09:32]
• Addressing the fear of losing objectivity in advisory work [09:33-10:45]
• Demonstrating advisory value to audit committees [10:46-14:08]
• Using assurance work to identify advisory opportunities [14:09-17:02]
• Developing skill sets for effective advisory work [17:03-19:03]
• The impact of strong relationships and trust in internal audit [19:04-22:41]
• How the Global Internal Audit Standards support advisory services [22:42-26:06]
• Fostering an advisory mindset within audit teams [26:07-28:18]
• Strategies for internal auditors to enhance their influence [28:19-30:37]
• Final thoughts and advice for internal auditors [30:38-32:00]

The IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Learning Solutions: The Advisory Engagement

Visit The IIA's website or YouTube channel for related topics and more.

• The IIA's Complete Global Internal Audit Standards
• The IIA's Cybersecurity Topical Requirement
• The IIA's External Quality Assessment (EQA)
• The IIA's Emerging Leaders Mentoring Program

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The Institute of Internal Auditors Presents: All Things Internal Audit Tech

In this episode, Bill Truett talks with Nick Lasenko about the critical role of identity and access management in today's organizations. They discuss common risks, best practices, and the impact of AI on identity and access management. The conversation also covers frameworks, regulatory requirements, and real-world use cases.

Host:

Bill Truett, CIA, CISA, senior manager, Standards & Professional Guidance, IT, The IIA

Guest: Nick Lasenko, CISA, CISSP, cybersecurity, privacy, and risk management practitioner

Key Points

• Introduction [00:00-00:00:07]
• Overview of identity and access management [00:00:08-00:00:31]
• The financial impact of data breaches [00:00:32-00:01:26]
• Challenges in detecting and responding to security incidents [00:01:27-00:02:26]
• Common identity and access management risks for auditors [00:02:27-00:03:26]
• Weak governance and its implications [00:03:27-00:04:26]
• Siloed organizations and identity and access management complexities [00:04:27-00:05:26]
• Regulatory frameworks and standards [00:05:27-00:07:26]
• Identity and access management controls and data governance [00:07:27-00:09:26]
• Real-world use cases and security incidents [00:09:27-00:11:26]
• Horror stories and lessons learned in identity and access management [00:11:27-00:13:26]
• Best practices for managing user access reviews [00:13:27-00:16:26]
• Continuous authentication and its challenges [00:16:27-00:18:26]
• Privileged access management and audit considerations [00:18:27-00:21:26]
• The impact of AI and machine learning on identity and access management [00:21:27-00:23:26]
• Final thoughts on strengthening identity and access management controls [00:23:27-00:25:26]
• Closing remarks [00:25:27-00:31:43]

The IIA Related Content Interested in this topic? Visit the links below for more resources:

• Intermediate IT Auditing
• Auditing IT Change Management
• GTAG: Auditing Identity and Access Management, 2nd Edition
• Fraud and Emerging Tech: Identity and Authentication with the Paycheck Protection Program
• Implementing The IIA's New Cybersecurity Topical Requirement
• Cybersecurity Topical Requirement

Visit The IIA's website or YouTube channel for related topics and more.

Resources Mentioned

• The IIA's 2025 Analytics, Automation and AI Virtual Conference
• The IIA's Updated AI Auditing Framework
• NIST Cybersecurity Framework (CSF)
• NIST AI Risk Management Framework
• IBM Cost of a Data Breach Report 2024
• CISA and NSA Guidance on Identity and Access Management

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The Institute of Internal Auditors Presents: All Things Internal Audit Tech

In this episode, Ernest Anunciacion and Tom Keaton discuss the evolving role of fraud analytics in internal auditing. They cover how data analytics and AI can improve fraud detection and prevention, along with the challenges and practical strategies for success.

Host: Ernest Anunciacion, CIA, head of product marketing, MindBridge

Guest: Tom Keaton, CIA, CRMA, CFE, CISA, director of Internal Audit, Crown Castle

Key Points

• Introduction [00:00-00:00:06]
• Ernest's background [00:00:07-00:00:54]
• Tom's background [00:00:55-00:01:50]
• Impact of data analytics and AI on fraud detection [00:01:51-00:04:27]
• Challenges in implementing data analytics in internal audit [00:04:28-00:07:06]
• Using data analytics for fraud investigation [00:07:07-00:09:32]
• Predictive analytics and identifying fraud trends [00:09:33-00:12:06]
• Continuous monitoring vs. early warning dashboards [00:12:07-00:15:45]
• Skills required for fraud analytics [00:15:46-00:19:03]
• Role of AI in fraud investigations [00:19:04-00:24:04]
• Future of AI in internal audit [00:24:05-00:25:27]
• Interesting fraud investigation stories [00:25:28-00:29:00]
• Closing remarks [00:29:01-00:30:03]

The IIA Related Content Interested in this topic? Visit the links below for more resources:

• Fraud Analytics for Internal Auditors Certificate
• Targeting Fraud With Data Analytics
• Global Knowledge Brief: Data Analytics: Part 2: Gathering, Understanding, and Visualizing Data

Visit The IIA's website or YouTube channel for related topics and more.

Resources Mentioned

• The IIA's Updated AI Auditing Framework
• 2025 Fraud Virtual Conference

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All Things Internal Audit: Fraud Podcast"Frankenstein's Roadster" Listen to The IIA's new Fraud Podcast brought to you by All Things Internal Audit. The Fraud Podcast provides fictionalized accounts of real-world frauds featured in Internal Auditor magazine's Fraud department. In this episode, Chief Audit Executive Frank Harley investigates a sophisticated synthetic fraud scheme at Speed Bird Automotive. The fraudster, posing as Sheila Jackson, exploited weak identity verification controls to purchase a luxury Mercedes SL Roadster. Harley's investigation reveals the dealership's vulnerabilities and highlights the critical role of internal auditors in detecting and preventing such fraud. Don't miss "Frankenstein's Roadster." IIA members can access the full article and bonus content here.

Interested in more fraud-related topics? Earn 6.6 CPEs by registering for The IIA's 2025 Fraud Virtual Conference, scheduled for February 20, 2025. Chapters:

• Introduction to the Case (00:00:01)
• Part 1: The Mysterious Customer (00:00:22)
• Part 2: Cracks in the Controls (00:02:02)
• Part 3: Fortifying the System (00:04:08

• 2025 Fraud Virtual Conference
• Association of Certified Fraud Examiners (ACFE)

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The Institute of Internal Auditors Presents: All Things Internal Audit

The Institute of Internal Auditors Presents: All Things Internal Audit Tech

In this episode, Dana Lawrence and Dhayalaruban Thangaraja discuss the complexities of auditing cryptocurrency and blockchain. They explore the unique challenges these technologies offer and share practical guidance for navigating this evolving landscape.

Host:

Dana Lawrence, senior director of fintech compliance, Pacific West Bank

Guests:

Dhayalaruban Thangaraja, internal audit director, BDO Malta

Key Points:

• Introduction [00:00-00:00:07]
• Ruban's background [00:00:08-00:00:33]
• Unique challenges in auditing cryptocurrency [00:00:34-00:03:26]
• Cybersecurity risks and best practices [00:03:27-00:05:06]
• Overview of regulatory frameworks and MiCA [00:05:07-00:07:06]
• Preparing for regulatory compliance [00:07:07-00:09:32]
• Advocating for governance enhancement [00:09:33-00:11:55]
• Building technical knowledge for internal auditors [00:11:56-00:14:16]
• Emerging trends in digital assets [00:14:17-00:17:48]
• Practical steps for auditing cryptocurrency adoption [00:17:49-00:20:29]
• Final tips for internal auditors [00:20:30-00:22:41] Closing remarks [00:22:42-00:33:25]

The IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Blockchain and IT Governance
• Online Exclusive: Setting the Standard for Crypto
• Global Knowledge Brief: Fraud Part I: Fraud in the Cryptosphere
• Privacy and Data Protection: Part 3
• The IIA's Proposed Letter to Congress for Enhancing Corporate Governance at Cryptocurrency Exchanges

Visit The IIA's website or YouTube channel for related topics and more.

• European crypto-assets regulation (MiCA)
• Dhayalaruban Thangaraja (2024, August 27). Decoding Digital Assets: Challenges for Internal Auditors in the Crypto World
• The IIA's Fraud Part I: Fraud in the Cryptosphere
• The IIA's Proposed Letter to Congress for Enhancing Corporate Governance at Cryptocurrency Exchanges

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The Institute of Internal Auditors Presents: All Things Internal Audit

In today's episode, to kick off the new year, we're counting down your top 5 favorite episodes from 2024! From tackling AI risks and ethics to uncovering misleading greenwashing claims and exploring the next frontier of quantum computing, these episodes highlight the key issues shaping the internal audit profession. So, whether you're a longtime listener or new to All Things Internal Audit, grab a seat and join us as we revisit the episodes that made the biggest impact in 2024. Let the countdown begin!

Episode 1: Tackling AI Risks and EthicsRobert Pérez, owner, Pérez Communication Solutions George Barham, director of standards & professional guidance, The IIA

Episode 2: Governance and Ethical Dilemmas in AI David Petrisky, director, professional standards, The IIA

Brian Willis, LBMC senior manager, cybersecurity advisor Charles King, managing director, advisory services, KPMG LLP Alex Gacheche, head of information security, Meta Ivan Martinez, managing director, internal audit, Goldman Sachs Ethan Rojhani, Grant Thornton principal, risk advisory services Wes Luckock, Grant Thornton senior manager, AI, automation and analytics Episode 3: Exposing Greenwashing Claims David Petrisky, director, professional standards, The IIA Edith Wong, forensic accountant in Investigations and Compliance, FTI Consulting Brian Wilmot, Compliance and Regulatory Counseling and Investigations and White Collar Defense Practices attorney at Paul Hastings LLP Episode 4: Quantum Computing's Impact on Internal Auditing Lynn Moehl, director of internal audit and chief audit executive, The IIA Nick Reese, co-founder and COO of Frontier Foundry & former director of emerging technology at Department of Homeland Security

Episode 5: Combating Financial Crime with AIRicardo Martinez, senior manager, Portfolio Strategy, The IIA

Antonio Cacciapuoti, head of internal audit, Eurizon Alessandro Casarotti, forensic and anti-financial crime director, PwC Luxembourg

Key Points:

• Introduction [00:00:02 - 00:00:36]
• Episode 1: Tackling AI Risks and Ethics [00:00:38 - 00:06:27]
  • Overview of the AI auditing framework [00:00:54 - 00:01:41]
  • Building an understanding within the organization [00:01:41 - 00:02:42]
  • Governance, management, and internal audit domains [00:02:42 - 00:04:25]
  • Engagement and leveraging relationships [00:04:25 - 00:05:25]
  • Tools and resources for practitioners [00:05:25 - 00:06:27]
• Episode 2: Governance and Ethical Dilemmas in AI [00:06:32 - 00:11:42]
  • Introduction to AI governance and ethics [00:06:45 - 00:07:18]
  • Addressing bias and ethical risks in AI [00:07:18 - 00:08:19]
  • Monitoring and controlling AI models [00:08:19 - 00:09:20]
  • Governance standards and independent monitoring [00:09:20 - 00:10:15]
  • Challenges and strategies for maintaining ethical standards [00:10:15 - 00:11:42]
• Episode 3: Exposing Greenwashing Claims [00:12:04 - 00:16:50]
  • Introduction to greenwashing [00:12:10 - 00:13:00]
  • Legal and regulatory aspects of greenwashing [00:13:00 - 00:14:19]
  • Examples of greenwashing cases [00:14:19 - 00:15:08]
  • Vague environmental claims and their scrutiny [00:15:08 - 00:16:02]
  • Risks and impacts of greenwashing on companies [00:16:02 - 00:16:50]
• Episode 4: Quantum Computing's Impact on Internal Auditing [00:17:00 - 00:22:58]
  • ntroduction to quantum computing [00:17:04 - 00:17:34]
  • Impact of quantum computing on internal auditing [00:17:34 - 00:18:23]
  • Malicious use and cybersecurity risks [00:18:23 - 00:19:26]
  • Current state and future potential of quantum computing [00:19:26 - 00:20:24]
  • Security risks and workforce training for auditors [00:20:24 - 00:22:58]
• Episode 5: Combating Financial Crime with AI [00:23:03 - 00:26:37]
  • Introduction to AI in financial crime detection [00:23:18 - 00:24:08]
  • Benefits of AI in transaction monitoring [00:24:08 - 00:25:03]
  • Screening systems and reducing false positives [00:25:03 - 00:25:52]
  • Training AI systems and cybersecurity considerations [00:25:52 - 00:26:37]

IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Auditing Artificial Intelligence Course
• Demystifying AI: Internal Audit Use Cases for Applying New Technology
• The IIA's ESG Certificate Program
• The IIA's Environmental, Social and Governance Knowledge Center
• The Big Idea: Quantum Computing
• Elevating Performance and Adding Value Get to Know the New Cybersecurity Topical Requirement Webinar

Visit The IIA's website or YouTube channel for related topics and more.

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Soft Skills

The Institute of Internal Auditors Presents: All Things Internal Audit

In this episode, Mike Jacka joins Mike Levy to discuss the importance of soft skills in internal auditing. They explore how emotional intelligence, communication, and relationship-building are crucial for auditors to drive change and add value to their organizations.

Host:

Mike Levy, CEO of Cherry Hill Advisory

Guest:

Mike Jacka, chief creative pilot at Flying Pig Audit, Consulting and Training Solutions

Key Points:

• Introduction and Episode Overview [00:00:02]
• The Importance of Soft Skills [00:00:26]
• Evolution of Auditing and Soft Skills [00:01:43]
• Recruiting for Success [00:02:51]
• Driving Change Through Influence [00:04:48]
• Training and Development [00:06:12]
• Emerging Risks and Asking the Right Questions [00:08:18]
• Advisory vs. Assurance Roles [00:09:06]
• Adapting to Technology [00:10:16]
• Diverse Hiring Practices [00:13:32]
• Risks of Overreliance on Technology [00:16:33]
• Future-proofing Internal Audit [00:20:11]
• Key Takeaways for CAEs [00:24:27]
• Closing Remarks [00:27:31]

The IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Communication Skills for Auditors: Interviewing and Negotiating Course
• Talent Management: Recruiting, Developing, Motivating, and Retaining Great Team Members Practice Guide
• IIA's Internal Audit Competency Framework
• Internal Auditor Magazine

Visit The IIA's website or YouTube channel for related topics and more.

• J. Michael Jacka and Bryant Richards, "Stepping Into The Future," Internal Auditor magazine, April 2024
• Vision 2035

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Been There, Done That, Seen It All

The Institute of Internal Auditors Presents: All Things Internal Audit

In this episode, Jeffrey Ridley reflects on his decades-long career and helping to shape the internal audit profession. He discusses the evolution of corporate governance, the challenges posed by emerging technologies like AI, and the vital role of sustainability in auditing. With personal insights and practical advice for the next generation of auditors, Ridley inspires listeners to embrace imagination, curiosity, and professionalism to drive meaningful change in the world of internal auditing.

Host:

Catherine Brown, associate manager producer, Content Development, The IIA

Guest:

Jeffrey Ridley, visiting professor, University of Lincoln, IIA Member since 1966

Key Points:

• Introduction and Episode Overview (00:00:02)
• Jeffrey Ridley's Internal Audit Journey (00:00:40)
• Challenges and Milestones (00:03:08)
• Sustainability and ESG Auditing (00:06:01)
• Evolution of Internal Audit Standards (00:08:30)
• Collaboration and Professionalism (00:11:36)
• Impact on Business and Public Sectors (00:13:17)
• Personal Interests and Hobbies (00:15:03)
• Advice for Future Internal Auditors (00:18:24)
• Closing Thoughts (00:22:12)

The IIA Related Content: Interested in this topic? Visit the links below for more resources:

• IIA's Certified Internal Auditor Certification
• IAm Jeffrey Ridley

Visit The IIA's website or YouTube channel for related topics and more.

• IIA's Code of Ethics
• Global Internal Audit Standards
• OECD Corporate Governance Principles
• UN's Sustainable Development Goals

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The Institute of Internal Auditors Presents: All Things Internal Audit In this episode, Antonio Cacciapuoti and Alessandro Casarotti join Ricardo Martinez to discuss the impact of AI on financial crime. They explore how AI is being used by criminals, the challenges it presents, and how internal auditors can leverage AI to enhance their controls and detection mechanisms. Learn more from this episode's guests, Antonio Cacciapuoti and Alessandro Casarotti, at their upcoming session at The IIA's 2025 Fraud Virtual Conference on February 20th, 2025.

Host:

Ricardo Martinez, senior manager, Portfolio Strategy, The IIA

Guests: Antonio Cacciapuoti, head of internal audit, Eurizon

Alessandro Casarotti, forensic and anti-financial crime director, PwC Luxembourg

Key Points:

• Introduction to AI in Financial Crimes (00:00:02)
• Criminal Use of AI in Financial Crimes (00:00:35)
• AI's Impact on Misinformation and Market Manipulation (00:00:51)
• AI in Transaction Monitoring and Predictive Analysis (00:04:12)
• Challenges with Data Quality and System Maturity (00:07:24)
• Human Skills and Data Quality in AI Efficiency (00:08:31)
• AI's Role in Reducing False Positives (00:06:08)
• Importance of Human Factor in AI Implementation (00:09:11)
• AI's Limitations and the Need for Human Oversight (00:10:13)
• Future of AI in Internal Auditing (00:12:19)
• Multidisciplinary Approach for Future Talent (00:15:29)
• Risks of Over-Reliance on AI by Young Auditors (00:17:29)
• Conclusion and Final Thoughts (00:18:23)

The IIA Related Content: Interested in this topic? Visit the links below for more resources:

• Auditing Artificial Intelligence Course
• Demystifying AI: Internal Audit Use Cases for Applying New Technology

Visit The IIA's website or YouTube channel for related topics and more.

• IIA 2025 Fraud Virtual Conference
• PwC Global Economic Crime and Fraud Survey
• IIA Artificial Intelligence Knowledge Center
• IIA Vision 2035

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All Things Internal Audit: Fraud Podcast "Uncontrolled Substances" Listen to The IIA's new Fraud Podcast brought to you by All Things Internal Audit. The Fraud Podcast provides fictionalized accounts of real-world frauds featured in Internal Auditor magazine's Fraud department. In this episode, Chief Audit Executive Trevor Smith uncovers a two-year scheme at Berkshire Healthcare where hospital director Chris Basil exploited weak controls to steal pain medications. The case highlights the vital role of internal auditors in tackling non-financial fraud. Don't miss "Uncontrolled Substances" IIA members can access the full article and bonus content here.

Interested in more fraud-related topics? Earn 6.6 CPEs by registering for The IIA's 2025 Fraud Virtual Conference, scheduled for February 20, 2025. Chapters:

• Introduction to the Case (00:00:01)
• Part 1: The Bitter Pill (00:00:26)
• Part 2: Prescription for Disaster (00:01:19)
• Part 3: A Hard Pill to Swallow (00:02:14)
• Part 4: A Dose of Reality (00:03:15)

• 2025 Fraud Virtual Conference
• Association of Certified Fraud Examiners (ACFE)

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