Last December I wrote this article with my friend Alex Ruehle on how to pitch Internal Audit to Elon Musk: https://tinyurl.com/ub5dcfjn We received several responses from the Internal Audit community and selected four (LinkedIn poll limit) to participate in a MASKED PITCH competition. What is a MASKED PITCH competition? Well, have you heard of the MASKED SINGER competition? It's similar, but we anonymize the Internal Audit pitch to Elon Musk. What is your favorite pitch? LinkedIn link: https://t...
Feb 13, 2023•5 min•Transcript available on Metacast Are auditors responsible for finding fraud? That was the debate between Alaba Awolaja, Chief Managing Consulting at GOARISC and Oversight, and Emmanuel Johannes, CEO at Kepler Associates. The audit profession has had recent developments in this space lately: - Last December, three audit and risk officers at Wells Fargo faced potential multi-million dollar fines for their role in the fake account scandal - Last month, the UK parliament proposed a bill making "failure to prevent fraud" a criminal ...
Feb 09, 2023•18 min•Transcript available on Metacast Annual Audit Plans are useless. Risks evolve and we need to revamp the plan as needed. How should you respond to your Audit Committee if they still ask for an annual audit plan? Will performing a continuous risk assessment really take more time than once a year? What if you don't hear back from the business when you want their input more often? These were the questions answered by Michele Variale, Chief Audit and Risk Officer at Telepass in Italy. I hope you enjoy the episode!...
Feb 07, 2023•15 min•Transcript available on Metacast What is better than an AUDIT DUEL? An AUDIT TRUEL! What an instant classic with David Hill, Renato Trisciuzzi, and Tracie Marquardt, as they debated better ways to communicate audit results. What is your strategic communication plan? Can we just use a dynamic dashboard instead of audit reports? Why do we need the audit reports in the first place? Why cant we let go of these audit traditions? These were some of the many topics discussed during the debate. I hope you enjoy it!...
Feb 01, 2023•19 min•Transcript available on Metacast Is artificial intelligence overhyped? In this AUDIT DUEL, Alex Ruehle, CEO of zapliance, and Darren Roberts, Technology and Digital Director at SWAP Internal Audit Services, debate the issue. Alex says that we can't leave AI to the data geeks and IT auditors, and must embrace the technology so that we are not left behind, while Darren questions what the "A" in AI really stands for, augmented or artificial? And also asks, is ChatGPT just an advanced API? What is your take on the topic?...
Jan 25, 2023•14 min•Transcript available on Metacast A large retailer in Brazil recently had a $4 billion "accounting inconsistency." What happened? Was it fraud or an accounting error? If it was a fraud, should the auditors be responsible for it? These were the questions answered by Marcelo Almeida, host of the Voice of Integrity podcast. Marcelo's website: https://compliancebsb.com.br/
Jan 23, 2023•8 min•Transcript available on Metacast Feedback episode. How can you engage with the podcast? There are four ways: 1) Take part as a guest, in short 15 minute-interviews (most of the time). 2) Take part in the AUDIT DUEL segment. Do you have a controversial, non-conformist idea to debate and share with the Internal Audit community? I want to hear from you. 3) Take part in the AUDIT FAIL segment. Do you have a failure experience you can share with the community? Let me know! 4) Provide feedback on topics, future guests, and general co...
Jan 21, 2023•2 min•Transcript available on Metacast Why do auditors get blamed so much for fraud and is that fair? What is the best free fraud detection tool? What are some other resources auditors should use? These were some questions answered by Haddon Fields. He is the Special Investigations Trainer with The PsyFIN Group which focuses on training investigators, auditors and other investigative personnel in innovative means of investigation, fraud, digital privacy, OSINT, and investigative leadership. He can be found online at: www.psyfingroup....
Jan 12, 2023•26 min•Transcript available on Metacast Why do auditors need to do a better job of marketing themselves? If you had 20 seconds to pitch Internal Audit to Elon Musk, what would your pitch be? If you were asked to create a short internal audit slogan, what would it be? These were the questions answered by Charles Schrock, publisher of the Audit Explainer website, and retired CAE. Follow him for some of the most fantastical internal audit stories. Like how Leonardo da Vinci became famous because of an internal auditor, and how an auditor...
Jan 10, 2023•12 min•Transcript available on Metacast The second episode of 2023, and the second episode of the AUDIT FAIL series. Auditors are taught not to trust. Trust but verify, right? But how about your co-worker? Should you fully trust that person? In this episode, Abbas Al Lawait, Head of Audit at OQ8 in Oman, discusses the risks of 'blind trust'. Don't trust me? Listen in to find out.
Jan 05, 2023•8 min•Ep 59•Transcript available on Metacast The first episode of 2023, and the first episode of the AUDIT FAIL series. Perhaps as important as setting goals for 2023 is to reflect on lessons from the past. Reflection builds resilience and wisdom. Robert shared some of the lessons he learned from a high-conflict situation where an audit client he worked with left a note on his desk. What did the note say? What was Robert's reaction? Listen in to find out! Join the Auditor Exchange at community.thatauditguy.com
Jan 03, 2023•22 min•Ep 58•Transcript available on Metacast Do CPEs lead to new skills? If a doctor or a teacher does not keep up with current practices and knowledge, they get instant 'customer' feedback, but does the same happen with internal auditors? That was one of the many questions raised during the duel by Nicola. Jamie proposed that with the right experts, content, and platform, CPEs add value. What do you think?
Dec 21, 2022•16 min•Transcript available on Metacast In this episode, I spoke with David Hill, CEO of SWAP Internal Audit Services, about non-financial audits. David explained why auditors should care more about non-financial audits, some skills required for non-financial auditors, and what audit leaders can do to better equip their teams. What transferable skills can a firefighter, pub landlord, or archaeologist bring to the internal audit profession? Listen in to find out! I hope you enjoy it.
Dec 15, 2022•9 min•Ep 56•Transcript available on Metacast Should auditors provide an opinion on engagements or is there a risk to it? How about ratings? Do they help or hurt? In this AUDIT DUEL, Richard Chambers, former CEO and President of the IIA, and Norman Marks, former Chief Audit Executive, debate the issue. Richard thinks that "internal auditors must exercise caution whenever assigning opinions" and that "audit leaders must be as diplomatic and conscientious as possible when assigning ratings." Norman thinks that "professionals are entitled to a...
Dec 14, 2022•16 min•Ep 55•Transcript available on Metacast In this episode, I interviewed Adefisayo Adefarakan, CEO and Managing Partner of Pharakan & Associates to talk about Quality Assessment Reviews (QARs). Adefisayo covered why Internal Auditors should care about QARs, other than because its an IIA requirement, and also discussed some of our blind spots and quick-wins he has learned in performing QARs. I hope you enjoy it! His website: https://www.pharakanassociates.com/
Dec 13, 2022•12 min•Transcript available on Metacast In this episode, I spoke with Vuyo Gwayi about common Internal Audit misconceptions. Vuyo also shared how she would explain Internal Audit to a group of 4-year-olds, and how she would respond if the CFO of a company asked her to "hire more external auditors to your internal audit team." Listen in to find out what she had to say!
Dec 05, 2022•12 min•Ep 53•Transcript available on Metacast In this episode, I spoke with Tina DSouza, Internal Audit Manager at RBC. Tina shared resume and career-building tips for internal auditors. It is all about being proactive and taking ownership of your career. As Tina mentioned, be relentless and find your allies . As an African proverb says: If you want to go fast, go alone, if you want to go far, go together.
Nov 30, 2022•19 min•Ep 52•Transcript available on Metacast In this episode, I spoke with Amanda Jo Erven about Total Quality Auditing. Jo discussed how one of internal audits 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/...
Nov 28, 2022•14 min•Ep 51•Transcript available on Metacast 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/
Nov 23, 2022•15 min•Ep 50•Transcript available on Metacast 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.
Nov 21, 2022•14 min•Ep 49•Transcript available on Metacast 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? Liste...
Nov 17, 2022•18 min•Ep 48•Transcript available on Metacast 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!
Nov 04, 2022•35 min•Transcript available on Metacast 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...
Oct 21, 2022•25 min•Ep 46•Transcript available on Metacast 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....
Oct 19, 2022•18 min•Ep 45•Transcript available on Metacast 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! Hub...
Oct 17, 2022•35 min•Ep 44•Transcript available on Metacast 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. Thats what Hossam did. I hope you e...
Oct 05, 2022•50 min•Ep 43•Transcript available on Metacast Do not live down to people's low expectations of you. Thats Mikes 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 Mikes story, learn about not only his audit career, but how he became a water ski World Record hol...
Oct 04, 2022•28 min•Ep 42•Transcript available on Metacast 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...
Sep 27, 2022•26 min•Ep 41•Transcript available on Metacast 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 Audits value? Listen to this episode for more tips on Transitioning and Thriving in your career.
Sep 22, 2022•27 min•Ep 40•Transcript available on Metacast 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!
Sep 15, 2022•19 min•Ep 39•Transcript available on Metacast 
