There’s a saying that I think sums up auditing very well: 'Trust, but verify.' This gets to the essence of why professional skepticism is just so important on all internal auditing engagements. It adds balance and perspective...
Altamonte Springs, Fla. (PRWEB) November 12, 2012
The final installment in a series of free webinars regarding professional skepticism is now available. "Skepticism and the Internal Auditor," features Institute of Internal Auditors President and CEO Richard Chambers and Georgia-Pacific Chief Audit Executive Paul Sobel. The entire webinar series highlights the importance of skepticism in fighting financial statement fraud — as applied by external auditors, audit committee members and other directors, financial executives, and internal auditors.
"There’s a saying that I think sums up auditing very well: 'Trust, but verify,'" says Sobel in the webinar. "This gets to the essence of why professional skepticism is just so important on all internal auditing engagements. It adds balance and perspective to our work and helps us assure that important risk and control issues aren’t overlooked."
The webinar series is one of several in a line of projects aimed at educating professionals on deterring and detecting financial reporting fraud, and is championed by The Institute of Internal Auditors, National Association of Corporate Directors(NACD), the Center for Audit Quality (CAQ), and Financial Executives International (FEI). It is moderated by Michele Hooper, audit committee chair of PPG Industries, and a member of the boards of UnitedHealth Group, the CAQ, and the NACD. The organizations initially announced their partnership in October 2010 when the CAQ issued a report, Deterring and Detecting Financial Reporting Fraud – A Platform for Action. The goal of the joint effort is to foster increased collaboration and communication among professionals involved in preparing, reviewing and approving financial statements in order to mitigate financial reporting fraud risk.
In addition to "Skepticism and the Internal Auditor," the other webinars in the series cover:
- The Etiquette and Ethics of Skepticism with Mary M. Mitchell, president, the Mitchell Organization; and Bill White, director, NACD and ContextMedia, Inc.; professor, Northwestern University
- Skepticism and the External Auditor with Cindy Fornelli, executive director, CAQ; and Greg Weaver, chairman and CEO Deloitte & Touche LLP
- Skepticism and the Audit Committee with Marty Coyne, lead director and audit committee member, Akamai Technologies; and Ken Daly, president and CEO, NACD
- Skepticism and the Financial Executive with Marie Hollein, president and CEO, FEI; and Greg Kabureck, vice president and chief accounting officer, Xerox Corporation
The series will conclude with a white paper published in December that will summarize webinar content and feature additional resources for skepticism. The set of resources will be available to the general public at no cost and can be found on NACD’s website http://www.NACDonline.org/Skepticism. To view the free online events, visitors to the website must register and create a profile.