Internal Audit Lens - Global Internal Audit Standards: the main changes

Strong governance around artificial intelligence fosters better innovation so the organisations that will be able to embrace AI the most are those that have effective governance in place. In this episode, ACCA Internal Audit Sector Panel member John Webb and Jonathan Roffey - who leads Ernst & Young’s delivery of Technology Risk Services to the Financial Services Sector – talk about the global regulations, regulatory expectations and governance that surround the use of AI. Jonathan will share his recommended steps for building a responsible AI governance framework. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

AI isn’t new but use of it by Internal Audit is. There will only be more use cases for AI going forward but the importance of “the human in the loop” means that AI will only replace internal auditors if they let it. In this episode, ACCA Internal Audit Sector Panel member John Webb talks to Jonathan Roffey - who leads Ernst & Young’s delivery of Technology Risk Services to the Financial Services Sector – about where internal auditors can embrace artificial intelligence to add to its own value. Jonathan will share practical examples of where he has seen AI help internal auditors, and also highlight some limitations of AI. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles.

In this episode, Annabel Faulkner of EY and Sara I James of Getting Words to Work discuss how internal auditors who are aware of and actively using particular techniques in critical thinking usually provide better risk-based audit of assurance and consulting services. Sara runs through three different types of reasoning in the European tradition of critical thinking and provides some examples of how they apply to an internal auditor’s work. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

Assurance mapping is a way of looking at risks and objectives for an organisation and mapping out how different organisational activities help (or don’t) to keep the risk or objective on track. In this episode, James Paterson explains how to undertake assurance mapping and the benefits of doing so – improved risk management, better resource deployment, less governance fatigue and more joined up reporting. Doing assurance mapping in a disciplined and structured way will provide you with a holistic perspective of what is going on in your organisation. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

No one likes writing audit reports and no one likes reading audit reports, but there are ways to reduce the pain and increase the gain. In this episode, Annabel Faulkner of EY and Sara I James of Getting Words to Work discuss how understanding and using plain language will increase the effectiveness of your report and reduce the risk of misunderstanding. You can order the second edition of Sara’s book, Radical Reporting: Writing Better Audit, Risk, Compliance, and Information Security Reports, here. For a 20% discount code on the book, use this code which is valid until June 2025: 25EFLY1 You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

In this episode, James Paterson – author of the book “Beyond the Five Whys” – talks about looking for underlying casual factors for why something happened with the aim of coming up with remedial actions, and also the need to take great care when analysing the facts and circumstances of a particular issue, or a near miss or a risk exposure that’s out of the agreed tolerance. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

Risk culture is about protecting and growing organisational value and ultimately helping your organisation to achieve its strategic objectives. However your risk culture is only as good as your organisational culture. In this episode, Annabel Faulkner of EY and Calene Van Zyl talk about the equation of process plus people and their behaviours equals the right business outcome, how you can build a risk culture in an organisation, and a real life client example bringing it all to life. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management committee and Heads of Internal Audit. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

As cyber threat actors continually evolve their attacks, an organisation can be considered to be doing well these days if it is only two steps behind bad actors. In the second of a two-part podcast, Lee Glover of Validera and Mike Hughes of Prism RA talk about recent developments in cyber risk including the evolution of the approach of threat actors from attacking individual organisations to attacking software companies that then distribute their bad code across the globe. Risk management is only possible if the controls implemented work as intended, so Internal Audit’s periodic assurance work on controls is vital, as is its involvement in IT projects from the outset. ACCA’s report on Cyber and the CFO is a useful resource that you can download at https://bit.ly/cyberandthecfo. ISACA and Aston University have produced a briefing for the C-Suite on what the Board of Directors need to know to build business resilience. This briefing accompanies ACCA’s report and on page 6 of the document you’ll find eight key questions that company directors need to ask to ensure they are at least doing the fundamentals – you can access the ISACA briefing at https://bit.ly/isacabriefingcsuite. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, Heads of Internal Audit and audit committee. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

All organisations regardless of size have a digital presence that opens them up to risks. Those risks are continually increasing with advancements in technology and connectivity, and the emergence of cyber threat actors. In the first of a two-part podcast, Lee Glover of Validera and Mike Hughes of Prism RA talk about cyber risks – what they are and why they are a significant concern for organisations today. ACCA’s report on Cyber and the CFO is a useful resource that you can download at https://bit.ly/cyberandthecfo. ISACA and Aston University have produced a briefing for the C-Suite on what the Board of Directors need to know to build business resilience. This briefing accompanies ACCA’s report and on page 6 of the document you’ll find eight key questions that company directors need to ask to ensure they are at least doing the fundamentals – you can access the ISACA briefing at https://bit.ly/isacabriefingcsuite. You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for Heads of Internal Audit and audit committee. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm

During the podcast, John mentions a webinar that he presented for ACCA about being a courageous internal auditor. You can register for listen to this free webinar on demand at https://event.on24.com/wcc/r/3718600/86C1A837386FBB249E1AD2881E6F3BF5. You can find all available podcasts here or find them on your favourite platform: Apple podcasts: https://podcasts.apple.com/us/podcast/internal-audit/id1761978023?mt=2&ls=1at=1001l626 Spotify: https://open.spotify.com/show/2VcM3L5gXHlmrfiV9U2VFj You can find more resources for internal auditors on our Internal Audit hub - https://bit.ly/accaiahub - including a series of guides for beginners, the management team, Heads of Internal Audit and audit committee. We also have resources for those moving into Internal Audit, free webinars available on demand, and articles. This podcast is hosted by ZenCast.fm