Lessons learned from warning signs before the October 7, 2023, failure: Strengthening board and auditor oversight
Year: 2024
Type: article
Abstract: This paper argues that incomplete information analysis and over-reliance on technology can obscure financial risks, drawing parallels between audit failures and intelligence lapses such as the October 7, 2023, attack. It asserts that professional auditors and proactive boards are essential for corporate survival. Emphasizing a risk-based audit approach, the study highlights the need for holistic use of technology, critical thinking, and effective communication. The research offers actionable guidance for boards to enhance collaboration with auditors, integrate safeguards into decision-making, and strengthen corporate governance. By focusing on robust internal controls and proactive risk management, this study provides a framework to prevent future financial disasters.
DOI: 10.22495/cbv20i3art5
Author: Keren Bar-Hava
Institution: Hebrew University of Jerusalem
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4403692061