Nischal Raj Siwakoti

The Strategic Shift: Why lean audit teams can't be the only line of defense against fraud. Internal Audit is often the first department name that comes to mind for dealing with frauds. In this article from the Internal Auditor Journal,  Author Sarah Li argues that real resilience comes from activating the first line (operations) to identify process breakdowns early and aligning the second line (compliance, legal, HR) to amplify risk signals. "Fraud risk is rising. Regulatory expectations are increasing. And lean audit teams are being asked to do more with less. The solution isn’t to work harder — it’s to work smarter by building leverage through the organization." https://lnkd.in/gP-VZ7aR #InternalAudit #FraudPrevention #RiskManagement #IPOReady #CorporateGovernance #ThreeLinesModel

12

1 Comment

Ever wondered where and when did the term 'Internal Controls' originate ? Coining "Internal Control" (1930s – 1949) This is the era where the modern term was born and formally defined. 1936: The American Institute of Accountants (now AICPA) formally used the phrase "internal check and control" in its bulletin, Examination of Financial Statements. This marked the transition period where the two terms were used interchangeably. 1949 (The Definitive Moment): The AIA published a special report titled Internal Control. This is widely considered the birth of the modern definition. The Shift: It expanded the definition beyond just accounting errors (the old "internal check") to include operational efficiency and adherence to managerial policies. The 1949 Definition: "Internal control comprises the plan of organization and all of the coordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies."

17

2 Comments

They say heroes wear capes. But in the corporate world, the real heroes often carry audit reports. Internal auditors rarely make headlines. We don’t close billion-dollar deals or launch flashy ad campaigns. But behind the scenes, we are quietly protecting the very foundation of the organization. Think about it, every time a control gap is identified, a risk is mitigated, or a process is improved, the organization becomes stronger and more resilient. Yet, these victories rarely make it to the spotlight. Internal auditors are the unsung heroes because: 1. We challenge the “this is how it’s always been done” mindset. 2. We provide management with the clarity they need to make informed decisions. 3. We safeguard stakeholders’ trust by ensuring transparency and accountability. The truth is, if internal audit does its job well, most people won’t even notice. And maybe that’s the point. Because success in this field isn’t about recognition, it’s about silently ensuring that businesses can thrive without disruptions. So here’s to the internal auditors! The quiet guardians of governance, the risk navigators, and the protectors of organizational trust.

18

3 Comments

Auditors… If you're stepping into the world of IT audits—or want to sharpen your current approach—this guide is a goldmine. Over the years, I’ve seen so many auditors rely solely on checklists, standards, or certifications… only to feel stuck when real-world complexity kicks in. That’s why The Ultimate Audit Guide caught my attention. It breaks down what every auditor really needs to know—things nobody teaches you in CISA courses or training slides. Here’s what stood out: ✅ Why timestamps are non-negotiable for audit evidence ✅ The most overlooked detail when evaluating a control ✅ How to verify whether you’re testing in production—or just a mirror ✅ The exact framework to evaluate risk-aligned control design ✅ A principle I now live by: “Let the evidence speak for you” Whether you're new to audits or mentoring junior staff, this is worth reading, bookmarking, and sending to your team. And the best part? 💥 You can download it right here. Free. No fluff. Just insights from the field. 👇 (Highly recommended for anyone serious about audit excellence) #ITAudit #InternalAudit #AuditLife #CISA #CRISC #RiskManagement #GRC #AuditTips #AuditGuide #ControlTesting #LinkedInAuditTips #AuditorTools #DownloadNow #IIA #IIAQatar #IIAEgypt #QatarAuditors #QatarAuditFirms #Big4 #EY #PwC #KPMG #Deloitte #InternalAuditInstitute #GlobalInternalAudit #AuditProfessionals #GRCProfessionals #MiddleEastAuditors #QatarGRC #AuditLeadership

30

3 Comments

Day 2: The CAE’s Role in an IPO: Beyond the Prospectus Organizations often treat the IPO as the finish line—getting the Prospectus approved by the CMA and ringing the bell at Tadawul. But for a Chief Audit Executive (CAE), the filing is just the warm-up. In the race to go public, it is easy to focus on the disclosures and documentation required for the listing. However, the CMA isn't just looking for a compliant document; they are mandating a compliant culture. #IPO #Internal_Audit #CMA #Saudia_Arabia #Tadawul #Governance #CAE

8

🚨 From Agentic AI to Governing Agentic AI: The New Frontier for Internal Auditors & GRC Leaders 🚨 In 2025, many of us were still debating what Agentic AI is—its potential, its risks, and its promise. Fast forward just one year, and that conversation already feels outdated. The real challenge today is not simply understanding Agentic AI, but governing it. The newly published Model AI Governance Framework for Agentic AI makes this crystal clear: - Agents are no longer passive tools—they act, adapt, and interact with systems and other agents. - With this autonomy comes new risk dimensions: erroneous actions, unauthorised transactions, cascading failures across multi-agent systems, and data breaches. - Governance now requires bounding risks upfront, ensuring meaningful human accountability, implementing technical controls across the lifecycle, and empowering end-user responsibility. For internal auditors and GRC leaders, this is a wake-up call. Oversight frameworks, risk assessments, and accountability structures must evolve at the same speed as the technology itself. 👉 The question is: Are you adapting to these fast changes—or are you at risk of becoming irrelevant? Agentic AI is no longer a theoretical discussion. It’s operational, it’s transformative, and it demands governance excellence. Those who lead in this space will shape the future of trusted AI. Those who lag may find themselves sidelined. Let’s not just talk about Agentic AI. Let’s govern it. InternalAudit #GRC #AgenticAI #Governance #RiskManagement #FutureOfAudit

47

2 Comments

Agile auditing vs risk-based auditing: two pathways to resilient governance. A concise synthesis of key points, similarities, and differences, plus implications for practice. This article summarizes how agile auditing's iterative, collaborative cycles contrast with risk-based auditing's risk prioritization and structured planning. It highlights how organizations can blend both to stay adaptive in dynamic environments. Read more in the accompanying analysis and let me know your experiences with these approaches in the comments.

2