The RMC Advisors

This article covers the various factors senior management and the board of directors should consider when appointing, evaluating, or terminating the Chief Audit Executive (CAE). The position of the CAE is important and requires independence and objectivity while also partnering with the organization and adding value.

Appointing a...

The International Professional Practices Framework (IPPF) and underlying International Standards for the Professional Practice of Internal Auditing (Standards) provide guidance to the internal audit activity. The Standards are applicable to all internal audit departments regardless of size, level of resources, complexity, or objectives and scope....

This practice guide summary will discuss how Internal audit can add value to the organization through its role in helping to deter and identify fraud. Fraud results in negative financial, reputational, psychological, and social effects on an organization.  To minimize the risk associated with fraud it is important for organizations to have a...

Recently, there has been an increased focus on the importance of managing risk as part of an overall strong corporate governance and enterprise risk management (ERM) program. With this new emphasis comes a responsibility for Internal Audit to assess the effectiveness of the risk management strategy within the organization. Though there are multiple...

McKonly & Asbury, LLP and McConkey Insurance & Benefits are pleased to sponsor 2011 TRENDS IV. This symposium will take place at the Radisson Penn Harris Hotel & Convention Center at 1150Camp Hill Bypass in Camp Hill, PA on June 3rd! The $50 fee includes 6.5 CPE credits, a continental breakfast, breaks and lunch. To reserve a seat,...

Join McKonly & Asbury on Friday, June 3, 2011 for our fourth annual TRENDS symposium focusing on accounting and audit issues for the insurance industry. The session provides 6.5 CPE credits, which includes 1 tax credit and 1 ethics credit. McKonly & Asbury is an approved continuing professional education program sponsor through the...

Are your workpapers privileged? The Institute of Internal Auditors (IIA) recently presented a webinar entitled “Five Court Cases Every Internal Auditor and Audit Committee Member Should Know.” The webinar focused on court cases related to privileges that may protect internal audit workpapers and how to protect privileged information.

Another recent report similar to the Internal Audit Activity Summary in the IIA’s Global Internal Audit Survey focuses on core competencies for internal auditors.

Do your internal audit employees and management have the industry’s core competencies? Why is competence important? The IIA’s Code of Ethics requires competency based on the...

How does your internal audit activity compare to your competition?  How are you preparing for upcoming changes in the internal audit industry?

 In 2010, the Institute of Internal Auditors (IIA) completed a survey of internal audit activities.  The survey focused on three key areas:

1. Internal audit activities,...