Episode description
This week’s episode, we're joined by Jennie Wallace, CEO and Founder of Melody Advisory Services. Jennie brings a wealth of experience, having worked across the first, second, and third lines of defense in audit and risk management.
In this episode, Jennie shares how management views audit from her experience on both sides of being an audit and helping with risk management. She highlights the importance of understanding and empathizing with management to strengthen auditor-client relationships. Jennie also discusses avoiding "dumb findings" that cause unnecessary friction and the importance of using good judgment when escalating issues. We wrap up by revisiting the topic of audit independence.
Be sure to connect with Jennie on LinkedIn.
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Timecodes:
5:16 - Music and Melody Advisory
5:58 - Learning Excel with ChatGPT
9:11 - What does Risk Management Think of Audit
12:28 - Developing an Auditor's Judgment
26:55 - The Flow Chart Story
34:33 - What does Independence Look like in 2024
40:55 - Co-source vs. Outsource
43:34 - How not to be a Trusted Advisor
47:48 - Final Thoughts
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