Internal Audit Plan Common Mistakes
On this episode of the Risk & Accounting Advisory podcast, Neal Beggan, Risk Advisory Leader continues the Risk In Review series as we explore internal audit plans and a few common mistakes that often occur during the development of the annual internal audit plan. Lori Daniels and Christine Homack, both Senior Managers in Cherry Bekaert’s Risk Advisory practice, specializing in internal audit and risk management, unpack the importance of establishing a sound audit plan and internal controls framework can ensure your organization is protecting against fraud and misuse, creating organizational efficiency, financial stability, integrity, and meeting any regulatory compliance requirements. Our risk professionals examine all aspects of internal audit planning including when to start planning, carry over audits to be considered, incidents that require special projects or reporting, inclusion of senior management in the audit planning process, linking your audit plan to your organization’s strategic plan and goals and finally, utilizing a risk assessment.
Cherry Bekaert’s Risk Advisory practice is focused on helping our clients protect value, power performance, and build resilience with mature internal controls and risk management practices.
If you need assistance with your internal audit function, developing a comprehensive internal audit plan, or having a risk assessment conducted, please reach out to our risk advisors.