7 Deadly Internal Audit Sins by IIA President & CEO Richard F. Chambers

Internal audit is dead-serious stuff, right? IIA President & CEO Richard F. Champers put together his list of seven deadly Internal Audit Sins. Sloth definitely is on board with the below list! This should be put on the walls of all the internal auditors for a daily reminder. Also wouldn’t be too bad to include this in all the introductory materials for new auditors.

1. Publish an erroneous report.

  • A mistake could be as devastating as intentionally made erroneous report. One failure may make the permanent stain in the Internal Audit function.

2. To intentionally submit incomplete or false work papers.

  • This is just unethical, period.

3. Lose your temper with a client.

  • Internal auditors must behave professionally at all times! Take a deep breath before bursting to fire!

4.  Auditing with an agenda.

  • This is a huge ethics breach. An example would be auditing with a conflict of interest.

5.  Betraying the bond of confidentiality.

  • This is similar to losing your face. Once you’ve lost, it’s hard to gain the trust of the organization ever again.

6.  Violating company policy.

  • Auditors should follow and comply with all the policies to set the tone at the top! So don’t fly first class, if rest of the company is flying coach.

7. Issuing an internal auditor’s report that is petty or doesn’t add value.

  • Audit is not only about pointing out, but also to support management and whole organization to improve.

 

Here’s the full video on Youtube:

 

 

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