Audit Talent Management…Where will you find your next rock star?

Finding talented internal audit professionals seems to be a common problem plaguing audit functions regardless of country, industry and function maturity. Even in this down economy job websites are full of internal audit opportunities. I have spoken with colleagues who have received literally hundreds of applications for one job opening. However they have also commented that

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Audit Projects without Opinions are Pointless

I am Still amazed by the number of audit functions that produce audit Reports without providing opinions about the control environment. After all, Internal Auditing is an objective assurance function. There is no way one can provide assurance without a formal Concluding opinion.

December 2012. I had the privilege of authoring an article for the IIA magazine titled “‘Your Opinion Matters”. It is presented below in its entirety with permission from the I IA.

The power of opinions has forever changed the way we purch

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Internal Audit Leaders Must Be Readers (part 2 of 3)

In a recent article titled Internal Audit Leaders Must Be Readers (part 1 of 3), I discussed the many benefits of reading including increased intelligence, improved communication skills and stress relief.

None can deny the positive impact of reading. Time is probably one of the biggest obstacles to more and better reading. Before the digital revolution, it was necessary to subscribe to many different publications and hope that at least one contained enough items of interest to warrant your time and monetary investment. Thanks to modern technology, there are tools and services that allow you to find, store, sort and filter content for immediate online viewing or later perusal. This article is part 2 of a 3 part series discussing tools to help you become more efficient readers. So, without further ado, the tools:

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3 Keys to Being a Top Performing Auditor

Internal Auditing is a profession that is open to quite a few different types of individuals. What I mean by that is, auditors can derive from varied background including accounting, finance, computer science, science, English, literature, biology, chemistry, social services, etc. As a result, it can be difficult to nail down the skills necessary to succeed. The Institute of Internal Auditors (IIA) developed an Internal Auditor

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Are You Auditing Social Media Risks?

Social media is a dominate customer engagement tool. It presents great opportunities for organizations. But with these great opportunities come great risks. I recently led a webinar about social media risks, remedies and governance. I believe social media has a huge impact on financial statements, compliance, and reputation. The slide deck below is

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Are You Telling Audit Clients What They Want To Know OR What They Need To Know?

I have had the privilege of working for or with some really great Chief Audit Executives over the years. They have taught me many valuable lessons, but one that sticks with me is “Tell them what they need to know.” To take it a little further, this person made me understand that there is nothing to fear as long I operate truthfully and

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How Happy Are Your Audit Clients? Ask Them!

Anyone providing products or services to customers should want to know what customers think about the product/services. Internal Auditors typically solicit feedback through client satisfaction surveys. There are a variety of ways to solicit opinions including live interviews and questionnaires. Successful questionnaires will help audit functions determine how well they are achieving goals and objectives. Many auditor simply copy surveys from other departments. I believe auditors must create surveys specifically for their operating environment. Successful surveys must consider the Stakeholders, the Questions and the Re

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The Power of Observation & Inquiry

Observation and Inquiry is an important skill set that must be in every auditors toolkit. It requires us to remain objective at all times. I find it interesting how this skill is not only applicable to auditing, but also in “life outside of audit” interactions. I recently wrote about what appeared to be bribery at the London Olympics. Further inquiry disclosed that this normal and acceptable behavior. Well, I have noticed another instance of good observation, ineffective inquiry.

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Taming audit client tantrums

Most audit clients understand that the purpose of an audit is to perform an independent evaluation of functions to determine if operations are effective and efficient. It is a strenuous process on clients. In many instances, it may not be enjoyable, however, most clients tend to respect the process. Occasionally, there are clients who exhibit behavior that is less than mutually respectful. I have said it before, being audited is just as stressful as auditing. I have personally seen clients scream, curse and toss items. While some clients are simply wired to be difficult (see related article on audit client types), I truly believe that a majority of clients are mature enough to

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How do you describe what you do to friends and family not familiar with the audit profession? (part 1)

The internal audit profession is comprised of Certified Public Accountants (CPA), Information Technology professionals, engineers, lawyers, nurses (remember the medical auditors) and more. In general, we ensure risks are appropriately mitigated. But how would you explain what you do to your grandmother. Here’s what I told mine:

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Small Acts of Kindness Work Wonders with Audit Clients

The phrase “it is better to give than to receive” is applicable to most areas of our lives. Studies have shown that those who participate in volunteer activities live better lives. Further, contrary to popular belief, nice guys do not finish last. Acts of kindness are important to build relationships of trust and respect.

I was fortunate to work with a few experienced professionals early in my career who taught me about the power of genuine kindness. I recall

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What to do when audit clients disagree with you!

Every auditor has or will face situations where clients significantly pushback on audit issues. Internal Auditing is an independent and objective function tasked with evaluating management’s risk identification and mitigation strategies. However, when presenting potentially reportable items to management, that objectivity can sometimes disappear as auditors began vigorously

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4 Audit Client Types

I recently wrote about 4 different auditor personality types. This article received a lot of visits, votes and comments. Check it out if you have not already. The purpose of that article was to identify some of the personality traits that we as auditors exhibit. Because communication is a two way street, today I want to discuss 4 audit client personality types. We must recognize

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