What works and what doesn't work with Control Self Assessments?

If you have it at your organization or are thinking about implementing it be sure to listen to Tom McLeod, Rob Berry, and William Carvalho for insights and save yourself some time from costly mistakes!

Second 'For Real Life' episode!

Here was the question from a listener: What should I do if my organization is facing issues and those in charge do not see the problems and blame those who highlight them? Executives and the Board are not supportive.

 

My guests, Roy King, Soneel Choraria, and Rob Berry share practical advice on dealing with C-level executives who refuse to acknowledge organizational issues. They discuss understanding human behavior, emotional triggers, and communication styles. Tune in to learn how to deal with such situations!

In this episode, Jeff Brown, author of "Leading the Digital Workforce" and former CISO at the State of Connecticut and currently at Microsoft, joins the podcast to discuss IT leadership, building personal resilience, and avoiding stress and burnout. Jeff shares insights from his book and his experience in IT leadership, covering topics such as:

- How future IT leaders can shift from being primarily technology-focused to becoming more business-focused

- Strategies for building personal resilience, including morning and evening routines, setting upper limits, and avoiding multitasking

- Overcoming common challenges in implementing change, including resistance to change, inadequate resources, and poor communication

Listen to the episode to learn more about Jeff's insights and experiences, and how they can apply to your own work in IT and internal audit.

In this episode, I spoke with Amanda “Jo” Erven about Total Quality Auditing. Jo discussed how one of internal audit’s goals should be to do fewer audits. 

Identifying errors after the fact? Too late.

She also had excellent points on how internal auditors can do work that really adds value and eliminates waste. Listen in to find out more!

Her website: https://www.auditconsultingeducation.com/

Total Quality Auditing book: https://www.auditconsultingeducation.com/product/tqa-book/

In this episode, I spoke with Emmanuel Johannes, Chairman of the Board of the African Federation of Institutes of Internal Auditors, and CEO of Kepler Associates. Emmanuel shared lessons learned when he was not in audit regarding practical findings and a 'moment of truth' in his career. Lastly, Emmanuel defined an effective finding in one word. Listen in to find out what it was! I hope you enjoy it.

Kepler's website: https://kepler.co.tz/

In this episode, I spoke with Toby DeRoche, author of the book Only Audit What Matters. Toby shared how internal auditors can start BEING agile vs. only doing agile and also shared the most important step in the Agile Blueprint transformation. Can you guess what it was? Take a listen to find out. I hope you enjoy it.

Are auditors truly independent and objective?

Yes? No? Depends?

In this AUDIT DUEL, Dr. Rainer Lenz, current CAE of SAF Holland, and Doug Anderson, former CAE of the Dow Chemical Co., debate the issue.

Dr. Rainer thinks that “we should de-emphasize the dimensions of independence and objectivity in our professional standards," and Doug believes that “if we lessen independence and objectivity, then we lose any distinctiveness of internal audit.”

So, are auditors truly independent and objective? Listen in to make your own conclusion.

In this episode, I spoke with Barrie Enslin, Managing Director at Pro Optima Services. Barrie shared his Start with Intuition Method (SWIM), and In & Out Audit approach. Auditors MUST look beyond the paper. Over 40% of his projects have paid for themselves, matter of fact these projects have paid for the remaining 60%! How does he do it? Listen in to find out. I hope you enjoy it!

In this episode, I spoke with Joseph McCafferty, business journalist, editor, and publisher of the Internal Audit 360 website. Joe explained how he got involved in creating a learning/networking platform for the internal audit community, despite never working in the profession. He also shared some insights from internal auditors around the globe, and articles he would like to see submitted. Are you the next author he is looking for? Listen in for his tips on how to get your articles published. I hope you enjoy it!

A big thank you to Joe for his behind-the-scenes work for the internal audit community!

In this episode, I spoke with Jan Babiak, Board Member and Audit Committee Chairperson of several large multinational organizations. Jan discussed common qualities that GREAT Internal Audit departments have. I also asked Jan a couple of expert-to-expert questions from Tom McLeod, former CAE of Rio Tinto. Profound questions, such as under what circumstances should the Chair seek the resignation of the CAE? Listen in to find out what Jan had to say! I hope you enjoy the episode.

In this episode, I spoke with Doug Hubbard, from Hubbard Decision Research, and discussed the Applied Information Economics (AIE) decision-making method. Doug discussed the concept of “analysis placebo” and some biases people have when making decisions, such as partition dependence and the illusion of communication. He also discussed some surprising variables that are more important than people give credit to when making decisions. Listen in to find out what he had to say! I hope you enjoy it!

Hubbard Decision Research website: https://hubbardresearch.com/

In this episode, I spoke with Hossam ElShaffei, a Member of the Board of Trustees of the Internal Audit Foundation at The Institute of Internal Auditors. Hossam has extensive experience in performing complex audits, and investigations, from the United Nations to FIFA. He has done it all. During the conversation, Hossam had many stories to share with all auditors about NOT SETTLING in their careers! Looking for the dream job? You may have to create it yourself. That’s what Hossam did. I hope you enjoy the episode!

Do not live down to people's low expectations of you. That’s Mike’s message. October is National Disability Employment Awareness Month. To bring awareness to the profession I interviewed Mike Royal. Mike is a former Director of Information Technology Audit, with more than 25 years of experience. He is blind, but as he well puts it, that is a small part of who he is. Listen in to the interview to hear Mike’s story, learn about not only his audit career, but how he became a water ski World Record holder, traveled the world, all the while not limiting himself. #workhardplayharder #nolimits

In this episode, Hernan Murdoch, author and VP of audit content at ACI Learning, and Sanjay Vadlamini, an experienced internal audit leader, discuss the risks of internal audit being outsourced due to complexity, technology, and trust issues. They also discuss the need for internal audit to focus on strategic risks, build relationships, and collaborate with other players to provide comprehensive assurance. The conversation highlights the importance of continuous learning, and emphasize the need for grassroots advocacy in promoting the profession.

In this episode, I interviewed Rob Sand, Iowa State Auditor and former prosecutor of the largest lottery scam in the history of the U.S.

Rob walked us through the case's most challenging part and detailed how they connected the scam to previous lottery winnings in at least six other states in the U.S.  How?  He explains that as part of the episode.  Lastly, Rob had a message for all auditors out there.  Listen in to check out what he had to say!  I hope you enjoy it.

NYT article: https://www.nytimes.com/interactive/2018/05/03/magazine/money-issue-iowa-lottery-fraud-mystery.html

Rob Sand's book on the case: https://www.amazon.com/Winning-Ticket-Uncovering-Americas-Biggest/dp/1640123717

Have you ever been through the experience of being acquired by another company? Did your Internal Audit department make it into one piece after the acquisition? Karl Stingily has. In fact, Karl not only kept his job as Chief Audit Executive at Caesars Entertainment but also his department was one of the least affected by the acquisition. How is that for the organization appreciating Internal Audit’s value? Listen to this episode for more tips on Transitioning and Thriving in your career.

In this episode, I talked to Diarmuid Early, aka Dim, aka the LeBron of Excel. Dim is the Financial Modeling World Cup reigning champion and previously won a cool  $30,000 in an Excel competition. From being able to help you win your Fantasy Football League competition to pricing cat insurance, he can do it all. Listen in for more Excel tips! I hope you enjoy it!

In this episode, I spoke with Dr. Sabine Charles, Chief Internal Auditor at Touro University and Chief Executive Officer at the TAPA Institute. Dr. Sabine shared some insights into one of the main challenges Audit Leaders face today and revealed her two favorite books on leadership - you’ll be surprised by at least one of them :)

Dr. Sabine also shared what she would cover in a How to Become a CAE book (and she is actually working on that) and lastly talked about the upcoming Level Up Audit Summit on September 14-15th. I hope you enjoy it!

Level Up Summit info: https://www.tapainstitute.com/level-up-internal-audit-summit

Carrot Seed book: https://www.amazon.com/Carrot-Seed-Rise-Shine/dp/0064432106

In this episode, I spoke with Marco Nutini, author of Risk is Not a Number and former CRO at Embraer. Marco explained why risk is not a number and how non-conformities are a COMPLIANCE attribute, not a RISK attribute. Marco also shared some ideas on pricing risks that Internal Auditors can question within their organization. Lastly, he shared a tragic case of Risk Management failure, in which company executives tried to defend themselves by saying that the risk within their risk matrix was 'yellow,' not 'red.' Listen in to find out what company that was. I hope you enjoy the episode!

In this episode, I spoke with Cy Wakeman, NY Times bestseller author, and drama researcher, to talk about how Ego is Not Your Amigo. Cy had some insightful comments on how Internal Auditors can best handle EGO-driven discussions (be a thought partner, up the support but don’t lower the standard!). We also discussed low vs. high accountability individuals and what leaders can do to best attract high-accountability talent. Lastly, Cy had some notes on why leaders should stop complaining (it leads to more negative thinking, not problem-solving!). I hope you enjoy it!

A podcast episode about...podcasts! What better guest to have than Trent Russell, host of the Audit Podcast. Trent shared with us why he started his podcast (perfect timing!), some of his most memorable podcast moments, and an inspiring story from one of his guests that keeps him going. I hope you enjoy the episode!

In this episode, I discussed Root Cause Analysis (RCA) with Duke Okes, RCA expert and author of Root Cause Analysis: The Core of Problem Solving and Corrective Action. We discussed some of his favorite RCA methods and how to know when you arrived at the root cause of an issue (the lowest level within your control!). I hope you enjoy the episode.

In this episode, Frank Holloman walked us through his journey at FedEx, from starting as a Cargo Handler to now being an Internal Audit Director. Frank provided great insight into how Internal Auditors can look for personal development opportunities, such as taking initiative, being accountable, and working out loud. Want to know what working out loud is all about? Listen in to find out! I hope you enjoy the episode.

In this episode, I spoke with Bruce McCuaig, former CAE of Gulf Oil Canada and proponent of performance as the new assurance. Bruce discussed how automating audit practices would allow auditors to get nowhere but at the speed of light, and had some insight into how our profession can better measure performance. I hope you enjoy it!

In our latest AUDIT 15 FUN podcast episode, Viquaruddin Hussain Syed, a Chief Audit Executive from Oman, shares his expertise on transforming the common perception of audit teams from adversaries to allies. He highlights the importance of effective communication and building partnerships to achieve this goal. What steps have you taken within your organization to showcase audit as a valuable friend?

In this episode, I interviewed Marta Cadavid, CEO of NoFraud LATAM LLC, and talked about her Fraud Explorer software. Through natural language processing, machine learning, and artificial intelligence, The Fraud Explorer is used to predict, prevent, and detect dishonest behaviors such as fraud, abuse, waste, and corruption, with key differential factors that help to identify risks in human communications. Listen in to find out what Marta has identified so far! I hope you enjoy it.

Marta's website: https://www.nofraud.la/en/home/

In this episode, I interviewed Pav Gill, widely recognized as the internal whistleblower who helped expose fraud at the German fintech Wirecard. Pav is the 2022 Sentinel Award Recipient from the Association of Certified Fraud Examiners, and he had a message to all auditors out there: Don't ostrich yourself! I hope you enjoy the episode.

In this episode, I spoke with Robert Berry aka That Audit Guy. Robert shared some insights on what Internal Audit leaders can do to reduce burnout within their groups, and also what Internal Auditors themselves can do to reduce burnout. At the beginning of the episode he listed five things that lead to burnout, can you guess what they were? Listen in to find out!

Here is the link to his website: www.thatauditguy.com/

Additional resource: https://community.thatauditguy.com/

In this episode, I spoke with Alaba Awolaja about FOUNDATIONAL Internal Audit skills and knowledge. Alaba is a big proponent of the #back2basics theme, reinforcing the need for Internal Auditors to know our processes well before we evaluate other processes. We must have a systematic and disciplined approach to arrive at a conclusion. I hope you enjoy it!

In this episode, Lynn Fountain and I discussed Ethics, the concept of Legal Fraud, how to determine what's ethical versus not ethical, and common ethical dilemmas Chief Audit Executives face. Lynn shared one tough decision she had to make. Did she regret it? Listen in to find out!

Link to her book on Ethical Dilemmas: https://tinyurl.com/mtcuz8rm

In this episode, I interviewed Tom McLeod and discussed the How, the Who, and the Where of the future of Internal Audit. Tom had some thought-provoking ideas on the topic and on how organizations can use GLOBAL talent to suit their needs (why restrict yourself to local talent?). He also had some points regarding how demographic trends (particularly in India and China) will play a role in our profession. Listen in to check out to whom Tom thinks the future belongs!

In this episode, I interviewed Alex Ruehle, CEO of zapliance, a human-centric, data-based, context-driven company, providing data analytic solutions to its clients. Alex told me about his journey of learning Internal Audit from scratch, not being fully appreciated where he used to work, and ultimately opening his own Audit company. Zapliance currently has 14 employees. Some of his tips include:

- Get your family on board.

- Be surrounded by people who believe in you.

- Connect, connect, connect with other people. That's where your opportunities will come from.

- Start with passion, and don't forget GRIT!

In this episode, I interviewed Oscar Trimboli and talked about Deep Listening. We discussed the science behind listening and some tips on mastering this skill. We also discussed listening for the 'how' versus the 'what', and taking notes (friend and foe). Lastly, he had some tips on listening to what is not being said! Oscar had a powerful story at the end of our interview on how Internal Auditors can communicate their recommendations to Executive Leadership.

Link to his website: https://www.oscartrimboli.com/podcasts/

In this episode, I interviewed Alex Sidorenko and talked about how he would audit a Risk Management function. We also discussed the superiority of quantitative versus qualitative methods and how some risks are not worth attempting to quantify. Lastly, we discussed how reputational risks DO NOT exist. Do you know of a qualitative risk method better than a quantitative one? Alex wants to hear about it!

In this episode, I interviewed Tim Leech, Managing Director at Risk Oversight Solutions. Tim talked about how Internal Audit needs to move away from legacy methods and apply an Objective-Centric approach. He also discussed why we need to move away from critical parent-child relationships when interacting with audit clients. I hope you enjoy the episode!

Join us for a discussion with Doug Pflug, author of 'Finding Your Granite' and 'Leadership Moving Forward'. Doug shares insights on leadership, vulnerability, and kindness, emphasizing the importance of vulnerability as a superpower. He also discusses his approach to multigenerational leadership. So, what are your granites - the core values that drive you?

In this episode, I interviewed Nick Espinosa, a cyber security expert from Security Fanatics. Nick shared some basic training non-IT auditors can take to be more proficient in the area. He also discussed some of the most and least effective controls companies can implement. Don't buy a Ferrari if you are going to have a chimpanzee drive it! I hope you enjoy the episode.

In this AUDIT 15 FUN episode, I had the chance to interview Chris Patrick, Head of Internal Audit at Figure Technologies, and discuss the report rating process. Should we rate audit reports? Listen in to what he had to say. Hint: The report rating process is much, much more about relationships than assigning a rating.

Here is the link to his article on the topic: https://www.auditboard.com/blog/should-you-rate-audit-reports/

In this AUDIT 15 FUN episode, I had the chance to interview Liz Sandwith and talk about Assurance Mapping.

Does Assurance Mapping sound like a hard task to accomplish? It shouldn’t be…Liz had a powerful message on why we need to KEEP IT SIMPLE!

Listen to the episode for more insights from one of the greatest in our profession.

Auditors you FAILED…

EY auditors that is. In the Wirecard case. Dan McCrum is an investigative journalist who was involved in the Wirecard case, one of the largest fraud cases in recent history. In this AUDIT 15 FUN episode, I discussed some of the parallels between Investigative Journalism and Internal Audit with Dan. He had some tips on how to become trusted with your sources and insights into why EY utterly failed by signing off Wirecard financial statements for about 10 years. He nailed it on the reason why…listen in to find out what he had to say!

His new book ‘Money Men: A Hot Startup, A Billion Dollar Fraud, A Fight for the Truth’ will be published in the UK on June 16 and sometime in the fall in the U.S.

In this episode, I had the chance to interview Nicola Osinaike and talk about Data Analytics. Are Internal Auditors lazy when it comes to Data Analytics? Do they just need to ask better questions instead of learning fancy tools? Listen in to check out what she had to say! Check out some of her content: https://www.linkedin.com/company/audit-data-hub/ https://auditopia.com/monthly-free-unlocked/

In this episode, I had the chance to interview Andy Fastow and talk about the concept of Legal Fraud. Andy shared his perspective from his time at Enron, and red flags Internal Auditors can use today to identify problems at a company. I hope you enjoy it!

In this episode, I had to chance to interview Sara I. James and talk about the often painful Reporting process that many Internal Auditors go through. Sara had some great tips on making it less painful, how to address never-ending wordsmithing, and provided insights into the different skill sets needed to write and edit reports. Sara also shared her favorite report format. Listen in to check out what it was!

Sara's website: https://saraijames.com/

Order her book here: https://www.routledge.com/Radical-Reporting-Writing-Better-Audit-Risk-Compliance-and-Information/James/p/book/9781032106045

In this episode, I had the chance to interview Dominik Foerschler and talk about #gamifiedtraining.  We discussed this new smart learning methodology and the benefits that Internal Auditors from all levels can have by participating in Regional, National, and International competitions!  Gamified training covers several topics, ranging from risk assessment know-how, operational audit techniques, and report writing, among others.  The championship will soon be happening in the US. For more information you can visit the following pages:

www.audit-championship.com

www.youtube.arc-institute.com

www.linkedin.com/showcase/audit-championship

In this episode, I had the chance to interview Dr. Murdock and talk about #operationalauditing.  We discussed some current concerns regarding supply chain and inflation, what can auditors do around those areas, and also some great tips on process mapping. Don't drop the baton fellow Internal Auditors!

In this episode, I had the chance to interview Jason Mefford and talk about #training #education, and #certifications in the Internal Audit profession.  Do you think you need the CIA certification to be a successful Internal Auditor? Listen in to check what Jason had to say about that.  I hope you enjoy it! Reach out to Jason on LinkedIn: https://www.linkedin.com/in/jasonmefford/on his website: https://jasonmefford.comor through cRisk Academy: http://bit.ly/criskacademy You can also watch his videos on YouTube at: https://www.youtube.com/c/jasonleemefford and listen to his podcast Jamming with Jason at: https://jasonmefford.com/jammingwithjason/

Join us for a SECOND hot seat episode with Nam Phong Ho, former CAE at Glencore. Nam shares his insights on how to stay ahead of the curve, from building a squad team to tackle innovations like AI and data analytics to implementing scenario simulation testing. Learn how Nam transformed Glencore's internal audit function. Don't miss this episode full with practical advice and real-world examples!

In this episode, I had the chance to interview Dr. Rainer Lenz and talk about the #future of #internalaudit.  Dr. Rainer co-authored an article on the topic with Kim K. Jeppesen (link below) where they brought up many current topics to light, and evaluated how new trends will affect the future of the profession.  Do you want to be a type 3 auditor? Listen in for Dr. Rainer’s advice.  I hope you enjoy it!

https://www.tandfonline.com/doi/full/10.1080/07366981.2022.2036314#:~:text=THE%20FUTURE%20OF%20INTERNAL%20AUDITING%3A%20GARDENER%20OF%20GOVERNANCE,-Full%20Article&text=On%20the%20micro%20level%2C%20in,internal%20auditing%20as%20a%20profession

In this episode, I had the chance to interview Ann Butera and talk about key communication skills needed from internal auditors to avoid pushback during a project. We also discussed how internal auditors can increase their executive presence or gravitas and make the changes we propose sustainable. I hope you enjoy it!

In this episode, I had the chance to interview Nathan Mueller and talk about his $8.5M fraud at an insurance company. Nathan shared his thoughts on specific control weaknesses that led to his fraud and what Internal Auditors can do better to detect fraud.  I hope you enjoy it!