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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  International Professional Practices Framework – Overview of the current guidance of the Institute of Internal Auditors

  T. Flemming Ruud, Philipp Friebe, Daniela Schmitz, Shqiponja Isufi

  …Framework which came into effect on January 1, 2009. Although the new framework is consistent with the previous framework, it contains some significant… …changes which are identified and explained in this article.1 1 Introduction Around ten years ago the Institute of Internal Auditors (IIA) recognized the… …the elements, to improve transparency in relation to the development of the ___________________ 1 Originally published in German, available on http… …suitable for the new concept and were removed.6 Meanwhile Position Pa- pers and Practice Guides were added to the framework. Figure 1 shows the ele- ments of… …the previous PPF and the new IPPF.7 Figure 1: Elements of the PPF and the IPPF ___________________ 5 Cf. The IIA (2009a), p. iii. 6 Cf. The… …Professional Practices Framework 19 2.1 Mandatory Elements As figure 1 shows, the Definition of Internal Auditing, the Code of Ethics and the Standards… …the IPPF. References Baker, Neil (2009): A renewed framework, in: Internal Auditor, February 2009, Vol. 66, Issue 1, p. 54-59. Bantleon…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Company Culture is Worth the Cost

  Sergey Martynov

  …shared by the majority of an organisa- tion’s employees. 1 The Importance of Company Culture Company culture is the main means of establishing employee… …figure 1). Lack of company culture CC is created spontaneous ly by various groups of employees CC is developed unintentionally by the… …employees’ belief Ineffective process � � � � Figure 1: The development of company culture Company Culture is Worth the Cost 47 The first stage… …share the company values? The range of possible results can be subdivided into five levels: 1. the employees are opposed to the company (the… …last for six months 2009 Degree of staff satisfaction with primary social needs 1- 4,9 low level of company culture 5- 7,9 average level of company… …ny DB Co m pa ny EB Production plan output in the last for six months 2009 Degree of staff satisfaction with primary social needs 1- 4,9…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Audit Marketing

  Dr. Hannes Schuh

  …applying the logic of marketing. 1 Audit Marketing as a Part of General Marketing As part of the general marketing concept, which refers to the company as… …Monopoly Demand PolypolyOligopolyMonopoly Supply Figure 1: Market form for IA products Apart from when the audit is considered in the narrowest… …IA’s expertise (audit system) View of audit system Table 1: Audit customers Schuh 144 Customer Benefits An initial rough assessment of the…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Internal Auditor – Generalist or Specialist

  Dr. Heinrich Schmelter

  …article deals with the provocative thesis, “In- ternal Auditor – Generalist or Specialist”. 1 Careers based on Status and Specialism Fig. 1 shows the… …min. 2 years 0 2 5 7 8 10 years Figure 1: Professional career paths in internal audit The prevailing organisation of large internal audit… …specialist professional groups: ___________________ 75 Cf. Wagner (2005), p. 143. Internal Auditor – Generalist or Specialist 125 1… …requirements for internal auditors can be split into 5 general and 7 specialist categories (cf. Fig. 3–5): General requirements: 1. Ability to work in a… …team 2. Flexibility 3. Leadership skills 4. Company knowledge 5. Process knowledge Specialist requirements: 1. Professional ethos 2. Internal…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Continuous Auditing: Myth and Reality

  Adrian Garrido

  …our function for over twenty years, though it is not clear when it will form part of the present. Summary 1: Although Continuous Auditing is a… …auditor. 1 Great Promises Continuous Auditing is, without any doubt, one of the most fashionable terms in our profession. As a proof, it is enough to… …focused: 1. Focusing on a transactional level. In addition to the risks linked to the aforementioned problem in implementing Continuous Auditing models… …imagination. The stages of the process involve: 1. Obtaining relevant information 2. Structured storage of the data 3. A (mainly) qualitative…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Performance Measurement and Controlling of Internal Audit – More Than Just a Measurement Problem

  Dr. Andreas Langer, Andreas Herzig, Prof. Dr. Burkhard Pedell

  …should be based on a solid scientific foundation. 1 Introduction Notwithstanding increasing regulatory requirements for functioning and effective… …also be fundamentally identified and used, if possible (cf. Fig. 1). Concepts from marketing, e.g. the ABC/XYZ analysis or the gap analysis could form… …activities 0% Figure 1: Development trends for internal audit – a forecast (Deloitte & Touche [2008]) When arguing on the basis of the… …the addressed problem are also shown by a panel study by the Institute of Internal Auditors (IIA) (cf. The Institute of Internal Auditors (2007), p. 1… …concept of the quality assessments (cf. The Institute of Internal Auditors (2007a), p. 1 et seqq.). However, only 56 % of those surveyed deal with a… …Auditing & Business Risk, No. 1, 2006, p. 20–24. Mosiek, T. (2002), Interne Kundenorientierung des Controllings, Frankfurt a. M., Berlin et al. 2002…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Doing More with Less

  Neil Baker

  …less money? 1 Budget Crunch Storms met his budget cut by losing two front-line audit posts. His internal audit team has three managers, each with his… …: 1. Review your last risk assessment. Everything has changed so dramatically in the last few months that you may be chasing risks that are…
• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Governance Works, in Principle

  Neil Baker

  …needs to be fixed? 1 Wrong Question? The Financial Reporting Council, which is responsible for the Code, says not. Its chief executive, Paul Boyle…
• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Efficient Risk Management in Leasing Companies

  Prof. Dr. Fikret Hadžiæ, Amir Softiæ

  …27 Efficient Risk Management in Leasing Companies By Prof. Dr. Fikret Hadžić and Amir Softić19 1 Introduction After a decrease of 9.1 % in… …value of the lessee's cash assets varies over time. The variability of that risk depends on (1) rents that have already been paid by the leasing… …management that focuses on: 1. the development of a well-planned management system for approving leasing services with the support of integrated…

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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Contribution by Internal Audit to IT Compliance

  Thomas Lohre

  …vention of rule violations. Furthermore, it can assist in IT compliance adding value to the company by providing valuable information. 1 Introduction… …the management of a GmbH (limited liability company), Article 43 Par. 1 GmbHG (Limited Liability Companies Act), obligates the management to apply the… …(cf. Fig. 1): – Legal provisions, i.e. legal standards (legal provisions, as well as legal ordi- nances issued on the basis of these by… …1: IT compliance directives1139 ___________________ 39 On the basis of Klotz/Dorn (2008), p. 11–14. Lohre 66 With legal provisions…

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