Lezlie Jiles

Hi Binju,

Great catch on the No Employee/Customer Escapes differences. I believed that this was just a typo, but in reading your comment I can see how it may not be a typo. The difference is employee and customer is a huge red flag for project failure. In my opinion, there was no clear plan (scope) identified, and without it, a project can…[Read more]

Hi Ami,

I definitely agree with your statement and good catch on the “No Employee Escapes”. However, I do believe it was just a typo. Or at least I hope it was because the first reading stated “Customer”.

Nevertheless, I liked your idea of pulling managers from different stores with ranging customer base. However, I think that for this…[Read more]

Hi Karabo,

Yes, I agree with your entire statement. Compliance with legal and regulatory requirements between different countries and cultures is a huge risk with outsourcing. Organizations found not complying have found themselves in a world of trouble and hefty fines to pay. You also mention time zones, which was an issue for my department a…[Read more]

Hi Ami,

I definitely agree with your statement, and I also believe that some of these risks/issues could be worked through via the outsourcing contract or the SOW. The outsourcing contract provides the agreed upon level of service, the excepted timeframe in which the services are to be completed, and the penalties if the agreement is not…[Read more]

Tamekia I definitely agree with your comment about the outsourcing going out of business. My department outsourced the “how to video” process to a third-party vendor a few years ago. We provided the procedural process and information and the vendor created and owned the videos. The videos were wonderful. They assisted a student with obtaining…[Read more]

Hi Mustafa,

I agree with your comment ” the most important contribution from “Millennial” generations to Audit and Assurance profession is to automate some steps of audit process by using their technological knowledge”. Over the years I have had experiences with the older generations where they refuse to change the process because it always bee…[Read more]

Hi Ian,

Your comment is right on point! May I also add that Millennials are great at networking. As you stated, “Millennials are typically curious and use their tech-savvy backgrounds to solve problems …”. They are also not afraid to call on a connection for an in-depth answer to their problem. This generation has had greater opportunity…[Read more]

Hi Mustafa,

I agree with your comment ” the most important contribution from “Millennial” generations to Audit and Assurance profession is to automate some steps of audit process by using their technological knowledge”. Over the years I have had experiences with the older generations where they refuse to change the process because it always bee…[Read more]

These issues go hand in hand, and I believe they are both equally important. I think it is important for businesses to maintain a depth of knowledge in technology to reduce the impact. Technology changes with the blink of an eye, and it is almost impossible to keep up with every aspect of it. However, it is vital for enterprises to stay as closely…[Read more]

An audit is conducted on a subject matter to assure that it is in compliance with the required standards, legislation, and regulation. A written communication is then created by an auditor which expresses a well-defined conclusion about the subject matter’s adherence to controls. The auditee and users are reliant on the auditor’s conclusion and…[Read more]

Blake,

I agree with you here. A business should have full knowledge of the product being considered, and the impact that it may have on the business. It is also important that the business set resources aside to remain knowledgeable about the changes and upgrades concerning that technology.

Hi Somayeh,

I truly agree with your comment about the stress creator ‘s impact on the auditing environment. You talked about auditors being stressed and making mistakes. If a stressor creates this type of environment it could disrupt the assurance process, which could cause a false conclusion. I believe an auditor should make every effort to…[Read more]

Hi Mustafa,

I see your point and I agree. You stated “They focus more on documents and are likely to create more findings that are not important…They can make recommendations that the auditee cannot possibly implement. Worst of all, probably their findings will result in penalties.” I can recall an audit that I experienced as the auditee,…[Read more]