Promoting the Profession

We’d love to hear about some of the ways your chapter or institute has been promoting internal auditing in your city, state, or country.

CSR

Business is proving it can be a force for environmental conservation. A thousand different technical, marketing and management innovations in packaging, building, energy efficiency, transport and logistics, supply chain management and consumer products and services are all contributing to the multiple solutions we need to address critical environmental problems.

Companies are a part of, not apart from society. To prosper in the long term, companies must anticipate and respond to society’s mood and needs. Concern for environmental quality and for human and community health is now a deeply entrenched societal value. Companies ignore this value at their peril and successful companies align their policies and practices to reflect this and take advantage of the business opportunities it brings.

Assheton Stewart Carter, Ph.D
Chief Advisor, Business Environmental Leadership
Conservation International

Interviewing Skills

I can think of an interview in my previous organization, which didn’t lead to the discovery of information, but did uncover generous expenses claimed by the managing director at an overseas subsidiary.

It was an interview with the vice-president of finance. When the excessive claims came to light we asked why he didn’t tell the audit team. He said he was about to in the interview but the occasion didn’t arise.

I can quite understand that. If the auditor goes in with a prepared set of questions (which they should), he/she must also be prepared to deviate from them by following up queries arising from the answers.

The lesson learned was that the auditor should work at gaining everyone’s confidence as soon as possible. Most importantly, at the end of the interview the auditor should look the interviewee in the eyes and ask, “Is there anything else you would like to say?” The auditor must record the answer.

-David M Griffiths Ph.D., FCA,

Trustee and Compliance Manager,

The United Charities of Abel Collin

Focus on Professionalism

By Steven E. Jameson, CIA, CCSA, CFSA
EVP, Chief Internal Audit & Risk Officer
Community Trust Bancorp, Inc.

The perception/stature of internal auditing has improved significantly over the past 25 years. Auditors are viewed as more knowledgeable, a business partner or a helpful resource as opposed to the “police.”

The top audit position is more likely to be a true executive or senior officer as opposed to a middle manager position. Titles have improved — CAE vs Internal Audit Director or Manager and EVP or SVP vs VP or AVP. The top auditor often reports higher up the chain — to CEO as opposed to CFO or controller. CAEs have bigger a role with audit committees and often have other units reporting to them — security, loan review, compliance, fraud investigation, risk management, etc.

The future is bright for the profession — the elevated stature helps, as do things like Sarbanes-Oxley requirements and governance initiatives.

It is important for The IIA to advocate on behalf of all internal auditors as there is strength in numbers. The “two heads are better than one” concept comes into play via networking, benchmarking, group consensus, standards, etc.

Welcome to IIA Insight!

There’s been a lot of media attention given to the multigenerational workplace, do you find it to be a viable subject or do you think it’s overplayed?