The Audit Podcast – Details, episodes & analysis

This week on The Audit Podcast, our guest is Mike McDonald, Chief Audit Executive at BorgWarner.

This episode is a little different—it's a replay from one of our sessions at the Audit Analytics and AI Conference, sponsored by Supervisor. Mike has been in the CAE role at BorgWarner for about a year, and he walks us through what that first year has really looked like.

We get into what he expected going into the role, what surprised him, and the biggest lessons he learned in his first hundred days.

Be sure to connect with Mike on LinkedIn.

Also, be sure to follow us on our social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

Timecodes:

2:14 — What It's Like Stepping into the CAE Role

8:19 — Understanding Internal Audit's Mission

9:31 — How CAEs Allocate Resources

11:09 — A CAE's Perspective on KPIs

13:52 — Using Full-Population Testing Effectively

16:16 — How to Implement Supervision

17:26 — Building In-House Solutions vs. Using External Tools

20:31 — Identifying What Truly Matters with Population Testing

22:32 — The Skill Sets CAEs Want

24:30 — How Internal Audit Teams Are Using AI

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week on The Audit Podcast, we're joined by three members of Snowflake's internal audit team: Amrita, Pooja, and Ajay.

Amrita Kapoor, Head of Internal Audit at Snowflake, walks us through how their team is using Snowflake's native tools to build practical analytics and AI solutions. She shares several real use cases their internal audit function has deployed—many of which Snowflake customers can replicate with the tools they already have.

We're also joined by Pooja K., who takes us inside the AI tool she built for the audit team. And here's the part that might surprise you: Pooja has no technical background—no analytics, no IT, no engineering—and yet she built her AI solution in a single evening. She breaks down exactly how she approached it, what she created, and why auditors without a tech background should feel empowered to start experimenting.

Finally, Ajay R., Internal Audit Manager at Snowflake, walks through additional AI and data analytics use cases their team has implemented, highlighting what's possible when internal audit fully leverages Snowflake's capabilities.

Also, be sure to follow us on our social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

Timecodes:

4:38 - Snowflake: Team Introductions

14:08 - Leveraging Data Analytics for ITGCs

20:07 - Testing Termination Controls

24:16 - Strengthening Collaboration Between Internal and External Audit

27:46 - How AI Is Shaping Resources and Hiring

30:17 - Final Thoughts

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

Be sure to follow us on our social media accounts on:

LinkedIn: https://www.linkedin.com/company/the-audit-podcast

Instagram: https://www.instagram.com/theauditpodcast

TikTok: https://www.tiktok.com/@theauditpodcast?lang=en

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

 *

This podcast is brought to you by Greenskies Analytics. the services firm that helps auditors leapfrog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Pat Niemann, Partner of Center for Board Matters at EY, joins the show. In this episode, Pat will explore pressing issues in cybersecurity, IA, and ESG in 2024. We'll discuss the impact of governance on AI, key questions the audit committee should pose to leadership, and cybersecurity implications under SEC rules.

Be sure to connect with Pat on LinkedIn.

Applying Machine Learning in Internal Audit

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Amanda "Jo" Erven, the Director of Internal Audit Education at MSU of Denver, joins the show. With a focus on ethics and fraud training, Jo brings a wealth of experience to the table. This week, Amanda "Jo" Erven, the Director of Internal Audit Education at MSU of Denver, joins the show. With a focus on ethics and fraud training, Jo brings a wealth of experience to the table. In this episode, Jo talks about her role at MSU of Denver and focuses on her work developing a program to boost involvement in the audit field. She discusses ways to attract more students, help them land internal audit positions, and provides helpful tips for similar initiatives.

Be sure to connect with Jo on LinkedIn.

Jo's upcoming Fraud Retreat

Desireé Rivera's LinkedIn

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Dr. Hernan Murdock, VP of Audit Content at ACI Learning, joins the show. In this episode, we're diving into Dr. Murdock's new book, "The Change Agent: Transforming Your Stale Internal Audit Department." During our discussion, we'll learn about his unique approach to writing the novel, gain insights into being a change agent, and explore practical strategies for improving IA departments. 

Dr. Hernan Murdock Book: The Change Agent: Transforming an Underperforming Internal Audit Department 

Book Review by Norman Marks: "The Change Agent" by Hernan Murdock  

Be sure to connect with  Dr. Murdock on LinkedIn. 

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Richard Chambers, former president and CEO of the IIA and Senior Internal Audit Advisor at AuditBoard, joins the show. 

On this episode, we discuss his article 7 Strategic Risks That Threaten the Future of Internal Auditing. Our conversation delves into the various challenges confronting auditors today, such as issues with recruitment and staff retention, the problems in adopting technology and AI, and the shortage of expertise in IT.

5 Steps to Persuade Decision Makers in Your Org to Invest in Technology Solutions

Be sure to connect with Richard on LinkedIn. 

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, our regular host, Trent Russell, takes a step back from the hosting duties today. Instead, we have the pleasure of having Clarissa Lucas, Thought Leader in Auditing with Agility and host of CTRLPhreaks, taking the reins as the host for this special episode.

In this episode, Clarissa interviews Trent Russell, providing a fresh perspective and giving listeners a chance to hear from the usual host. The discussion delves into the importance of letting experts in the field share their insights, what to expect with data analytics and AI in 2024, and insights on potential risks associated with both data analytics and AI.

These hosts offer a unique behind-the-scenes look at the podcasting world and the minds behind the mic. Tune in for an engaging conversation between two seasoned professionals in the field of internal auditing.

Be sure to connect with Clarissa on LinkedIn. 

Clarissa's Book: Beyond Agile Auditing: Three Core Components to Revolutionize Your Internal Audit Practices

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Jason Winters, AVP, IA Methodology & Innovation at Navy Federal Credit Union. In this episode, Jason discusses the successes and challenges faced by his Data Analytics team, outlines the AI plans for 2024, and explores upcoming innovations in the field. Emphasizing the importance of cultivating professional relationships, Jason delves into the significance of maintaining connections post-audit, and offers practical advice on building and sustaining these relationships.

Be sure to connect with Jason on LinkedIn. 

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week, Daniel McCarville, Statistics Researcher and Audit Analytics Professional, joins the show. He is the Audit Data Analytics Lead at Crane Co. In this episode, Daniel delves into Benford's Law, exploring its impact on audits. He provides insights into the discovery and historical background of Benford's Law, discusses various use cases, and highlights what internal auditors can gain from applying this analytical approach.

Be sure to connect with Daniel on LinkedIn.  

Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.

Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.

*

This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype. 

Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.