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Page 1: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 116

page contents

SUPPORT US ABOUT US CONTACT SPONSORS

Home

Training

Articles

Research Digest

News Roundup

Journal Of Internal Audit

Contribute Articles

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 216

Subscribe

Trending Survey Companies Still Struggle on SOX Compliance

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 316

Many internal audit shops are adopting Agile projectmanagement principles in an attempt to create amore exible adaptive and customer-orientedaudit function And while the results have beenpromising expect a few bumps along the way

To be sure Agile is not a revolution for internal audit but astep to the next stage of evolution Nevertheless this journey

Internal Auditing the Agile Way On April 24 2019 By Imtiaz Hussain

SEARCHSearch hellip

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 416

is vital if internal audit is to remain relevant In my view Agileis easy to learn but hard to implement particularly because itrequires a shift in mind-set for the entire internal audit teamAudit departments that create an environment in which Agileourishes nd that teams remains exible and can churn outinnovative solutions faster

Through introduction of newtechniques such as MoSCoW andKanban Agile also increases teamproductivity and employeesatisfaction It minimizes the wasteinherent in redundant meetings andrepetitive planning These tools alsoequip our internal auditors with newtechniques I particularly nd thefollowing tools for Agile auditexecution invaluable for continuallyimproving the ability to deliver auditservices while improvingcommunication and collaborationWe have also embraced them for ourown Agile journey here at BNYMellon

MoSCoW We use the MoSCoW technique toprioritise and plan internal audit

NEWS ROUNDUP

IIA Seeks Input

on lsquoThree Lines

of Defensersquo

Model

June 19 2019

0

KPMG to Pay

$50 Million to

Settle Inspection

Cheating

Charges by SEC

June 18 2019

0

Internal Audit

Finds Improper

Payments at

Canadian

Healthcare

Provider

June 11 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 516

activities The MoSCoW method is anacronym which stands for ldquoMustHave Should Have Could Have andWill not Haverdquo (The ldquoorsquosrdquo have beenadded only to spell out the familiarcity to make the term easier toremember) This method allowsinternal audit to reach a commonunderstanding with stakeholders onthe importance they place on thedelivery of audit activities that couldgenerate the most value

MoSCow also reminds auditors todevelop a laser focus on whatrsquos mostimportant from an audit coveragestandpoint in a constrainedenvironment This is especiallyimportant given that more and moreauditors are being asked to do morewith less Using MoSCoW can enableinternal audit teams to moreeciently manage scope focus onkey issues and drive better allocation of resources It ishowever dicult to embrace prioritization methods such asMoSCow when auditors are used to the habit of coveringeverything on a specic audit Embedding MoSCoW and

UK Insurance

Group Releases

Internal Audit

Guide

June 6 2019 0

Compliance

Stang Trouble

a Key Risk for

Banks

May 28 2019 0

CAQ Issues

Guide on

Assessing

Technology

Risks

May 16 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 2: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 216

Subscribe

Trending Survey Companies Still Struggle on SOX Compliance

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 316

Many internal audit shops are adopting Agile projectmanagement principles in an attempt to create amore exible adaptive and customer-orientedaudit function And while the results have beenpromising expect a few bumps along the way

To be sure Agile is not a revolution for internal audit but astep to the next stage of evolution Nevertheless this journey

Internal Auditing the Agile Way On April 24 2019 By Imtiaz Hussain

SEARCHSearch hellip

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 416

is vital if internal audit is to remain relevant In my view Agileis easy to learn but hard to implement particularly because itrequires a shift in mind-set for the entire internal audit teamAudit departments that create an environment in which Agileourishes nd that teams remains exible and can churn outinnovative solutions faster

Through introduction of newtechniques such as MoSCoW andKanban Agile also increases teamproductivity and employeesatisfaction It minimizes the wasteinherent in redundant meetings andrepetitive planning These tools alsoequip our internal auditors with newtechniques I particularly nd thefollowing tools for Agile auditexecution invaluable for continuallyimproving the ability to deliver auditservices while improvingcommunication and collaborationWe have also embraced them for ourown Agile journey here at BNYMellon

MoSCoW We use the MoSCoW technique toprioritise and plan internal audit

NEWS ROUNDUP

IIA Seeks Input

on lsquoThree Lines

of Defensersquo

Model

June 19 2019

0

KPMG to Pay

$50 Million to

Settle Inspection

Cheating

Charges by SEC

June 18 2019

0

Internal Audit

Finds Improper

Payments at

Canadian

Healthcare

Provider

June 11 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 516

activities The MoSCoW method is anacronym which stands for ldquoMustHave Should Have Could Have andWill not Haverdquo (The ldquoorsquosrdquo have beenadded only to spell out the familiarcity to make the term easier toremember) This method allowsinternal audit to reach a commonunderstanding with stakeholders onthe importance they place on thedelivery of audit activities that couldgenerate the most value

MoSCow also reminds auditors todevelop a laser focus on whatrsquos mostimportant from an audit coveragestandpoint in a constrainedenvironment This is especiallyimportant given that more and moreauditors are being asked to do morewith less Using MoSCoW can enableinternal audit teams to moreeciently manage scope focus onkey issues and drive better allocation of resources It ishowever dicult to embrace prioritization methods such asMoSCow when auditors are used to the habit of coveringeverything on a specic audit Embedding MoSCoW and

UK Insurance

Group Releases

Internal Audit

Guide

June 6 2019 0

Compliance

Stang Trouble

a Key Risk for

Banks

May 28 2019 0

CAQ Issues

Guide on

Assessing

Technology

Risks

May 16 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 3: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 316

Many internal audit shops are adopting Agile projectmanagement principles in an attempt to create amore exible adaptive and customer-orientedaudit function And while the results have beenpromising expect a few bumps along the way

To be sure Agile is not a revolution for internal audit but astep to the next stage of evolution Nevertheless this journey

Internal Auditing the Agile Way On April 24 2019 By Imtiaz Hussain

SEARCHSearch hellip

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 416

is vital if internal audit is to remain relevant In my view Agileis easy to learn but hard to implement particularly because itrequires a shift in mind-set for the entire internal audit teamAudit departments that create an environment in which Agileourishes nd that teams remains exible and can churn outinnovative solutions faster

Through introduction of newtechniques such as MoSCoW andKanban Agile also increases teamproductivity and employeesatisfaction It minimizes the wasteinherent in redundant meetings andrepetitive planning These tools alsoequip our internal auditors with newtechniques I particularly nd thefollowing tools for Agile auditexecution invaluable for continuallyimproving the ability to deliver auditservices while improvingcommunication and collaborationWe have also embraced them for ourown Agile journey here at BNYMellon

MoSCoW We use the MoSCoW technique toprioritise and plan internal audit

NEWS ROUNDUP

IIA Seeks Input

on lsquoThree Lines

of Defensersquo

Model

June 19 2019

0

KPMG to Pay

$50 Million to

Settle Inspection

Cheating

Charges by SEC

June 18 2019

0

Internal Audit

Finds Improper

Payments at

Canadian

Healthcare

Provider

June 11 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 516

activities The MoSCoW method is anacronym which stands for ldquoMustHave Should Have Could Have andWill not Haverdquo (The ldquoorsquosrdquo have beenadded only to spell out the familiarcity to make the term easier toremember) This method allowsinternal audit to reach a commonunderstanding with stakeholders onthe importance they place on thedelivery of audit activities that couldgenerate the most value

MoSCow also reminds auditors todevelop a laser focus on whatrsquos mostimportant from an audit coveragestandpoint in a constrainedenvironment This is especiallyimportant given that more and moreauditors are being asked to do morewith less Using MoSCoW can enableinternal audit teams to moreeciently manage scope focus onkey issues and drive better allocation of resources It ishowever dicult to embrace prioritization methods such asMoSCow when auditors are used to the habit of coveringeverything on a specic audit Embedding MoSCoW and

UK Insurance

Group Releases

Internal Audit

Guide

June 6 2019 0

Compliance

Stang Trouble

a Key Risk for

Banks

May 28 2019 0

CAQ Issues

Guide on

Assessing

Technology

Risks

May 16 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 4: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 416

is vital if internal audit is to remain relevant In my view Agileis easy to learn but hard to implement particularly because itrequires a shift in mind-set for the entire internal audit teamAudit departments that create an environment in which Agileourishes nd that teams remains exible and can churn outinnovative solutions faster

Through introduction of newtechniques such as MoSCoW andKanban Agile also increases teamproductivity and employeesatisfaction It minimizes the wasteinherent in redundant meetings andrepetitive planning These tools alsoequip our internal auditors with newtechniques I particularly nd thefollowing tools for Agile auditexecution invaluable for continuallyimproving the ability to deliver auditservices while improvingcommunication and collaborationWe have also embraced them for ourown Agile journey here at BNYMellon

MoSCoW We use the MoSCoW technique toprioritise and plan internal audit

NEWS ROUNDUP

IIA Seeks Input

on lsquoThree Lines

of Defensersquo

Model

June 19 2019

0

KPMG to Pay

$50 Million to

Settle Inspection

Cheating

Charges by SEC

June 18 2019

0

Internal Audit

Finds Improper

Payments at

Canadian

Healthcare

Provider

June 11 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 516

activities The MoSCoW method is anacronym which stands for ldquoMustHave Should Have Could Have andWill not Haverdquo (The ldquoorsquosrdquo have beenadded only to spell out the familiarcity to make the term easier toremember) This method allowsinternal audit to reach a commonunderstanding with stakeholders onthe importance they place on thedelivery of audit activities that couldgenerate the most value

MoSCow also reminds auditors todevelop a laser focus on whatrsquos mostimportant from an audit coveragestandpoint in a constrainedenvironment This is especiallyimportant given that more and moreauditors are being asked to do morewith less Using MoSCoW can enableinternal audit teams to moreeciently manage scope focus onkey issues and drive better allocation of resources It ishowever dicult to embrace prioritization methods such asMoSCow when auditors are used to the habit of coveringeverything on a specic audit Embedding MoSCoW and

UK Insurance

Group Releases

Internal Audit

Guide

June 6 2019 0

Compliance

Stang Trouble

a Key Risk for

Banks

May 28 2019 0

CAQ Issues

Guide on

Assessing

Technology

Risks

May 16 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 5: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 516

activities The MoSCoW method is anacronym which stands for ldquoMustHave Should Have Could Have andWill not Haverdquo (The ldquoorsquosrdquo have beenadded only to spell out the familiarcity to make the term easier toremember) This method allowsinternal audit to reach a commonunderstanding with stakeholders onthe importance they place on thedelivery of audit activities that couldgenerate the most value

MoSCow also reminds auditors todevelop a laser focus on whatrsquos mostimportant from an audit coveragestandpoint in a constrainedenvironment This is especiallyimportant given that more and moreauditors are being asked to do morewith less Using MoSCoW can enableinternal audit teams to moreeciently manage scope focus onkey issues and drive better allocation of resources It ishowever dicult to embrace prioritization methods such asMoSCow when auditors are used to the habit of coveringeverything on a specic audit Embedding MoSCoW and

UK Insurance

Group Releases

Internal Audit

Guide

June 6 2019 0

Compliance

Stang Trouble

a Key Risk for

Banks

May 28 2019 0

CAQ Issues

Guide on

Assessing

Technology

Risks

May 16 2019 0

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 6: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 616

deriving value from it requires time experience and openminds

Sprints Sprints are at the center of Agile auditing and involve time-boxed intervals during which tasks must be completed Hereat BNY Mellon we established a sprint maximum of twoweeks This enables the internal audit team to remain focusedand committed to completing the required tasks within theallotted time I personally have noticed a shift in auditormind-set where during a sprint the entire internal audit teamdemonstrates urgency and determination to resolve anyroadblocks and drive towards the nish line

We run four events in any given sprint The work to beperformed during the sprint is planned at the Sprint PlanningMeeting Collaborative work of the entire internal audit teamleads into a working plan The goal is for everyone to leave themeeting with a complete understanding of what the next twoweeks look like and to commit to the work Next the Daily

NEWSLETTER SIGNUP

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 7: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 716

Stand-Up is a 15 minute time-boxed event for the internalaudit team to synchronize activities and create a plan for thenext 24 hours Team members explain what they didyesterday that helped the audit team meet the sprint goalwhat they are planning to do today and nally discuss anyimpediments

Are you interested in advancing your Agile skills Internal Audit 360deg now oers fourdierent online courses on Agile project management basics though its partnershipwith MindEdge for as little as $89 Courses include Introdcution to Agile AgileTeam Management and more Click here for more information

At the end of a sprint a Sprint Review is held with keystakeholders to highlight what was done during the sprint andto obtain feedback from stakeholders During this meetingany internal audit viewpoints and audit observations can bediscussed with stakeholders Following this meeting apotential audit nding form is usually populated anddistributed to stakeholders within 24 hours for review andaction planning In this meeting stakeholders are alsoinformed of tasks planned for any following sprints

Finally a Sprint Retrospective provides an opportunity for theinternal audit team to inspect and create a plan forimprovement to be carried out during the next sprints TheSprint Retrospective occurs after the Sprint Review and priorto the next Sprint Planning Meeting The key outcome of this

Name

Email

Company

Job Title

Country

Postal Code

First Last

Submit

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 8: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 816

meeting is to inspect how the last sprint went with regard topeople relationships processes and tools

To recap a sprint typically has four components to managethe work-ow of the given project

Sprint Planning Meeting A focused meeting to cover all theexpectations of the sprint who is responsible for what andhow it will be accomplishedDaily Stand-Ups Daily timed briengs on what wasaccomplished the prior day the goals for the next 24 hoursand any hurdles that may be in the way of meeting thosegoalsSprint Review A meeting between internal audit andstakeholders to review the work obtain feedback and discussthe results of the sprintSprint Retrospective A meeting to discuss how the sprintwent and how the process can be improved for the nextsprint

Kanban Kanban is a simple yet visually eective tool to monitorprogress on internal audit activities and can help propel anAgile internal audit initiative It contains specic activitiesthat need to be performed activities in progress and nallyactivities that have already been completed Whilstapplication of Kanban boards vary from organization toorganization and can be digital or physical I generally nd

Internal Audit Group

Facebook Group middot 350 members

Join Group

JOIN OUR FACEBOOK GROUP

RECENT ARTICLES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 9: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 916

the old fashioned use of Post-Its on a ip chart the mostcollaborative and eective means to brainstorm problems andunblock issues preventing completion of the activities byinternal audit

Sample Kanban Board Image by Andy Carmichael used under license [CC BY-SA 40 ]

Whatever the platform Kanban boards enable an end-to-endreal-time view of a projectrsquos status helping teams focusprioritize activities and highlight delays It is a great project-management tool to facilitate candid dialogue withstakeholders during the Sprint Review event and fostercollaboration across the cross-functional internal audit teamduring events such as Sprint Planning and the Daily Stand-Up

Survey Companies Still

Struggle on SOX Compliance

My Journey into an Internal

Auditing Career

IIA Seeks Input on lsquoThree

Lines of Defensersquo Model

KPMG to Pay $50 Million to

Settle Inspection Cheating

Charges by SEC

Demystifying Risk Culture

Assurance

June 25 2019

June 20 2019

June 19 2019

June 18 2019

June 17 2019

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 10: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1016

Shu Ha Ri While sprints are an important part of Agile successfullyimplementing Agile internal auditing is actually more like amarathon Embracing the Japanese philosophy of Shu Ha Ri isinvaluable in navigating through this journey Introducing anAgile approach to auditing inevitably means transformativechange and requires a shift in mind-set of internal auditorsThe Shu Ha Ri philosophy can provide structure and aid inchange-management processes

Shu Ha Ri is a concept to describe dierent levels of trainingor learning and while it was developed in a martial artssetting it can be applied to Agile to help us along our journeyto implementation Shu Ha Ri involves three types of learningor training styles In the rst ldquoShurdquo the student follows theform and disciplines of the master closely repeating thebasics and structures without deviation with the goal ofmastering the techniques Once mastered the student canbegin to depart from the forms moving into the ldquoHardquo stageexperimenting with new ways and applications of what wasalready mastered and innovating on them In the ldquoHardquo stagethe student learns more about the underlying principles andtheory behind the techniques In the nal stage ldquoRirdquo thestudent learns from his own practice arriving at a new placeand adapting what he or she has learned to newcircumstances RECENT COMMENT

S

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 11: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1116

The idea is not to try to change the world overnight Byinitially focusing on the ldquoShurdquo principle internal auditors areencouraged to learn the fundamentals and get comfortablewith the basics In a highly regulated industry such asnancial services Shu also facilitates transition with minimalto no change in auditing methodology

As internal auditors gain experience in delivering internalaudit projects using the Agile approach and gain condence itis imperative that internal audit organizations continue toevolve and nd ways to make the auditing process more Agilefriendly This continuous improvement process is essentiallythe ldquoHardquo stage a stage where internal audit is not afraid toexplore the limitations on the way things are done and pushthe boundaries of such limitations

Finally the ldquoRirdquo stage is about mastering Agile internalauditing to the point that this becomes the norm

The journey of agile transformation is not easy and requiresmultiyear planning sponsorship from senior managementlearning the ceremonies of Agile techniques the patience tomaster those techniques the education of stakeholders andthe continued drive to build an ecosystem that continuouslypromotes an Agile mind-set

Those who move down this Agile internal audit path willarrive at a place where internal audit is not only providing a

Sharda Lutchman-Walter onMy Journey into an Internal

Auditing Career

Amr Abdalazim Kholidy on My

Journey into an Internal Auditing

Career

Md Mahfuzur Rahman on My

Journey into an Internal Auditing

Career

Oscar on Glendale City

Council Votes to Eliminate

Internal Audit Position

Russ Banham on Enronrsquos

Andy Fastow Is Back with an

Important Message on Fraud

June 2019

May 2019

April 2019

March 2019

ARCHIVES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 12: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1216

better service for its clients but where it works happier andsmarter too

Imtiaz Hussain is a Managing Director at BNY Mellon InternalAudit based in London United Kingdom

Posted in Articles Featured Insight 360deg Tagged Audit Planning Internal audit skills

2 Replies to ldquoInternal Auditing the Agile Wayrdquo

Prescott Coleman says

April 25 2019 at 107 pm

Love your article ndash would encourage you to take a look at my new book onthe subject available on Amazon ndash httpswwwamazoncomActive-Auditing-Practical-Guide-Agiledp1092839305

REPLY

February 2019

January 2019

December 2018

November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

December 2017

PREVIOUS POST

Regulator Proposes Big Changes For Audit Firms In The UK

NEXT POST

Enronrsquos Andy Fastow Is Back With An Important Message On Fraud

CATEGORIES

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 13: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1316

Kwame Boakye says

May 26 2019 at 1213 pm

Interesting article Can I get details of the methods discussed in the articleEspecially the Shu ha ri

REPLY

Leave a Reply

Articles

Editors Blog

Featured

Featured News

Insight 360deg

News Roundup

Research Digest

Your email address will not be published Required elds are marked

Comment

Name

Email

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1616

Home Subscribegt About Usgt Contact Usgt Terms of Servicegt Privacy Policygt

Page 14: Home - Western India Regional Council of ICAI · setting, it can be applied to Agile to help us along our journey to implementation. Shu Ha Ri involves three types of learning or

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1416

Website

POST COMMENT

Articles (114)

Editors Blog (16)

Featured (7)

Featured News (75)

Insight 360deg (25)

News Roundup (152)

Research Digest (16)

Article Categories

Audit Committee (20) auditor proles (9) Audit Planning (39) Audit reports (12) Big Four (21) compliance (48) Culture (26)

Cybersecuity (1) Cybersecurity (15) Data Analytics (8) data governance (20) DOJ (4) Ethics (23) FCPA (6) Financial Reporting

(23) Fraud (40) government auditing (2) Internal audit skills (40) internal controls (36) IT Audit (16) Non-Gaap (1) outsourcing (8)

regulation (24) risk assesment (29) risk management (36) SEC (23) SOX (22) technology (23) third-party audits (8)

Article Topics

772019 Internal Auditing the Agile Way | Internal Audit 360

httpsinternalaudit360cominternal-auditing-the-agile-way 1516

Newsletter Signup

Name

Email

Company

Job Title

Postal Code

First Last

Submit

Copyright copy 2019 Risk360 Media LLC All rights reserved

772019 Internal Auditing the Agile Way | Internal Audit 360

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