Day: August 20, 2019

Categories
Jamming with Jason

Gaining Different Perspectives to Help Executives Solve Problems with Emilio Rubio

As auditors we need to see the world with different eyes in order to really help executives solves problems. If we only focus on areas within the organization where we believe there is risk, we risk focusing on areas that don’t really matter to management. One of the biggest reasons management does not think audit is adding significant value (and the number is pathetically low based on several surveys) is we are not helping them solve the real problems they experience. We often focusing on the narrow lens of internal audit and provide lower value recommendations, instead of thinking strategically as an executive of the organization.
If we want to be seen as a trusted advisor, we need to provide value and insight on areas where the executives are focused. We need to gain different perspectives to have more empathy and understanding of our audit clients. We need to be part of the solution, not another problem executives need to deal with.
Emilio Rubio has served several times as a Chief Audit Executive and in various executive management roles for companies all over the world. He provides a unique perspective as an auditor and executive manager who has seen both sides.

To listen and for complete show notes and links to downloads, visit: http://www.jasonmefford.com/jammingwithjason/

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The #1 #internalauditpodcast in the world has interviews and discussions (jam sessions) relevant to Chief Audit Executives and professionals in #internalaudit, risk management, and compliance.
To listen to this and other Jamming with Jason episodes for CPE credit, visit: https://ondemand.criskacademy.com/courses/

Categories
Adventures in Compliance

The Problem of Thor Bridge and Monitoring Controls

We are back with another series of Adventures in Compliance podcasts. This week I am exploring stories from The Casebook of Sherlock Holmes. In this week’s second offering, I consider The Problem of Thor Bridge. From this story we take the Holmes utterance “We must look for consistency. Where there is want of it, we must suspect deception”. This informs our discussion on monitoring controls.

Compliance Takeaways
  1. How do you determine that want of consistency? Monitoring controls is one key.
  2. Consider the fifth and final Objective from the COSO 2013 Internal Control Framework is Monitoring Activitiesas a guide.
  3. Further consider Principles 16 & 17 of the COSO Framework.
  4. Monitoring Activities should bring together your entire compliance program and give you a sense of whether it is running properly.
  5. Both ongoing monitoring and auditing are tools the CCO and compliance practitioner should use in support of this objective.
  6. The most important item to note is that all the controls need to be sustainable.
Join us tomorrow as we consider The Adventure of the Creeping Man.
Categories
Innovation in Compliance

C-Suite Network and the Future of Podcasting with Jeffrey Hayzlett


Our illustrious guest on this week’s show is Jeffrey Hayzlett, the founder and CEO of C-Suite Network. He chats with host Tom Fox about his podcast network and what he sees as the future of podcasting.

The Evolution of C-Suite Radio
Jeffrey has had a very successful career in the corporate world: he has bought and sold over 250 businesses, completed $25 billion in transactions, was the Chief Marketing Officer for Eastman Kodak, a Fortune 10 Company. He was also a judge on the Celebrity Apprentice for 3 years, working with Mark Burnett and Donald Trump. He shares how he transitioned from his own Prime Time TV show into podcasting, eventually starting C-Suite Radio, which is now the world’s largest business podcast network.
C-Suite Network as a Trusted Source
The C-Suite Network includes C-Suite Radio, TV, Book Club and several other clubs and councils. Jeffrey wants listeners to know that they are getting an authoritative source: the network offers a breadth of knowledge as well as diversity of thought. Just like a bartender who knows what you like and has it waiting when you come in, the goal of the C-Suite Network is to serve its audience. We anticipate your needs, Jeffrey says, and aim to be there when you’re ready for it, in the way you want to have it, whether through books, podcasts, tv, or conferences.
A Broad Spectrum of Solutions
Tom remarks that he likes the C-Suite Radio Network because you can listen to and incorporate a broad spectrum of solutions into your practice. Jeffrey comments about the caliber of guests and the knowledge they bring to the shows. With over 5,000 shows per year, the C-Suite Network has a plethora of content which gives readers lots of choices to find solutions or opportunities. A listener can search for information by genre, or any other taxonomy.
The Market Development of Podcasting
Podcasting has seen major market growth in part because of the proliferation of devices. It is easier and more convenient to listen than to see. People love the ability to consume knowledge wherever they are. The marketplace has picked up on this and the valuation on podcast networks has risen, so much so that they are now trading at 100x revenue. Podcast growth is much higher than video growth.
C-Suite Conference
The C-Suite Network hosts over 60 meetings per year. Recently they had a full week of meetings, including the Capital Summit on the second day, when they rented out a former Catholic Church which is now a meeting venue, and passed the collection plates. Over half a billion dollars in funding was given out in the room. 
The Future of Podcasting
Jeffrey envisions that there will be more podcasts, availability will be easier especially with connected home devices such as Alexa and Google Home, and that more advertising will be done on shows in the future. 
Resources
C-Suite Network
Jeffrey Hayzlett on LinkedIn

Categories
Daily Compliance News

Daily Compliance News: August 20, 2019-the dog years edition

In today’s edition of Daily Compliance News:

  • Former SEC Chair Arthur Levitt says the SEC plan to gut internal controls reporting is misplaced. (WSJ)
  • The Business Roundtable redefines “the purpose of a corporation.” (NYT)
  • BVI lawyer skewers ABA for opposing AML legislation. (FCPA Blog)
  • When employment years count as dog years. (WSJ)