Auditing is one of the oldest professions. It was preceded by accounting which was born out of the need to keep records beyond the capacity of human memory. The need to keep records necessitated verification, which gave rise to the auditing profession. Management system (MS) auditing officially began with the…

The term “risk” or “enterprise risk,” is a 21st century buzzword, and with good reason. Although the concept of risk is virtually as old as humanity, it has now come to the fore in a spectacular way. Some 45-50 years ago, driven by corporate financial scandals, it emerged as a…