The UK’s audit watchdog has kicked off an ambitious set of consultations aimed at shoring up trust in financial reporting, with proposals that touch fraud detection, going concern judgments, auditor reporting, and enforcement powers.
Australia’s corporate watchdog has refreshed its guidance for auditors, issuing an updated regulatory guide that consolidates and simplifies rules around reporting breaches and contraventions to the regulator.
In Norman Marks’ latest piece, he emphasizes why boards, CEOs, and auditors should place their attention on the controls that matter most—those tied directly to enterprise objectives. Drawing on decades of experience, Marks underscores that auditing should be future-focused and risk-based, centering on the design and operation of critical internal controls rather than just data testing.
In this article, Norman Marks reflects on how internal audit must evolve in step with the rapid changes reshaping global businesses. Drawing on his own experience as Chief Audit Executive at Tosco Corporation, Marks argues that internal audit should be designed around the risk universe rather than static frameworks, emphasizing flexibility, agility, and a willingness to rethink traditional models in the face of AI-driven transformation.
In Norman Marks’ latest piece, he challenges internal auditors to reflect on their role, their mindset, and their real value to the organization. Drawing from personal experience and professional insight, Marks lays out a series of contrasts that help auditors pinpoint where they stand and where they might want to go.
In this article, Norman Marks breaks down the difference between traditional, retrospective assurance and the kind of forward-looking insight that truly supports decision-making. Drawing on his decades of experience, he challenges internal auditors to shift their focus from the past to the future, and to deliver assurance that helps organizations navigate the risks and opportunities ahead.
The UK’s Financial Reporting Council (FRC) has recently published its first formal guidance on how artificial intelligence should be used, and documented, in audit. The guidance, released today, doesn’t lay down the law. Instead, it offers something arguably more valuable, clarity.