Normally I’m on the side of the table asking questions and interviewing guest, but in this very special #internalauditpodcast episode of #jammingwithjason you get to experience Silvia Puhani interviewing me.
Silvia recently interviewed me for her podcast: Interne Revision, and graciously gave me access to the recording so I could also share it with you.
We discussed:
– my career
– the differences between internal and external auditing
– how you can improve your internal audit marketing
– how to communicate effectively, and
– my views on the future of internal audit
For those of you that speak German, make sure to check out Silvia’s podcast: https://www.puhani.com/index.php/podcast-2/
Tag: internal audit
Categories
Limitless Learning
In this Jamming with Jason internal audit podcast episode I dig into improving your learning so you can unlock your limitless potential. It’s a bit of a potpourri episode, one where we literally talk about potpourri, but a few other topics besides learning 
You don’t just need training, you need to LEARN … and they are two different things. You can take a training and not learn anything, and you can learn without going to training. To learn you need a combination of knowledge, skills, abilities, and experience. Training only helps you with the first two.
One of the best ways to improve your abilities and get experience is through community with others. Without this aspect of learning you really don’t integrate and “learn” the information fully.
Come join me in some communities where I hang out so we can interact directly. Podcasts, while they are fabulous are a one-way communication. When we connect in community the conversation can go both ways.
For a community of like minded internal auditors on a full learning platform check out the cRisk Academy Facebook Group: https://www.facebook.com/groups/criskacademy/
For a community of like minded Chief Audit Executives, check out the CAE Forum: https://jasonmefford.mykajabi.com/caeforum
For a community of like minded CIA candidates, check out the CIA Discussion Group: https://www.linkedin.com/groups/13732881/
Here’s the book I reference in this episode, that is a must-read for anyone who is serious about life-long learning.
“Limitless: Upgrade Your Brain, Learn Anything Faster, and Unlock Your Exceptional Life” by Jim Kwik: https://www.amazon.com/Limitless-Upgrade-Anything-Faster-Exceptional-ebook/dp/B082ZQDH63/
Many professionals get caught in a CPE mindset when it comes to professional development. A CPE mindset will not get you promotions or new positions. In the knowledge revolution, we have to become lifelong learners – those concerned with learning and growing each day, week, and month – not just completing hours of random CPE each year. Find out how to switch mindsets, increase your likelihood of having your training requests approved, and some questions you can ask yourself to be proactive with your learning opportunities.
Jason Mefford is a Rock Star – Internal Audit, Risk Management and Compliance. He helps Chief Audit Executives (CAE) and professionals with technical & soft-skills training and coaching to navigate the mine fields of audit, risk and compliance in organizations. http://www.jasonmefford.com and http://www.meffordassociates.com
#internalaudit #internalaudittraining #lifelonglearning
A recently released study from the AICPA and NC State show that despite the constant drumbeat for improving and formalizing risk management processes, most organizations are still way behind in their efforts. When 60% agree the volume and complexity or risk have changed extensively over the last five years, and 65% of boards are call for “somewhat” to “extensively” increasing managment involvement in risk oversight, why aren’t more organizations on board with implementing ERM (only 34% have “mature” or “robust” oversight)? We’ll unpack the results of the study, discuss some of the reasons and implications this has on organizations, internal audit, and how to use ERM as a strategic advantage.
Jason Mefford is joined by Joseph McCafferty, Editor & Publisher of Internal Audit 360 who recently reported on this study in an article. https://internalaudit360.com/
You can access Joe’s article “Report: Companies Lad on Improving Risk Management” at https://internalaudit360.com/report-companies-lag-on-improving-risk-management-programs/
Jason Mefford is a Rock Star – Internal Audit, Risk Management and Compliance. He helps Chief Audit Executives (CAE) and professionals with technical & soft-skills training and coaching to navigate the mine fields of audit, risk and compliance in organizations. http://www.jasonmefford.com/ and http://www.meffordassociates.com
Apple Podcast: https://itunes.apple.com/us/podcast/jamming-with-jason-mefford/id1456660699
PodBean: https://jammingwithjason.podbean.com/
Next, we consider how the internal audit (IA) function can be used to facilitate more effective continuous improvement. According to the Institute of Internal Auditors’ own definition, internal audit is “an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.”
Some of the key compliance activities of IA are to maintain its independence; to conduct auditing activity of awareness and adherence to policies, procedures, internal controls and corporate governance, including those relating to legal, compliance and ethics risks; to ensure there is follow up of recommendations made in IA reports, including those relating to compliance and ethics risks, including to track and report on management follow up; assist and collaborate on internal investigations, including having IA provide audit expertise in dealing with internal controls and financial data; assist in both design and auditing of internal controls and follow up as required. Clearly this is a function which is and should be integrated into compliance.
For its part, the compliance function can leverage IA resources and professionals on audit techniques and analysis of internal controls and such integration extends the corporate compliance influence through the company’s IA network. Finally, it allows the corporate compliance function to be made aware of relevant concerns uncovered during audits, so compliance is more fully able to participate in recommendations and follow up.
Three key takeaways:
- Internal audit can be used to provide continuous improvement to and for compliance.
- Internal audit can also fill a gatekeeper role in your compliance regime.
- Compliance should leverage IA resources and professionals, on audit techniques and analysis of internal controls.
I spent the last several months interviewing many chief audit executives (CAEs) from all over the world to gain a better understanding of the current state of internal audit. What I found is that not only is the pace of change accelerating at an alarming rate, but along with the mounting challenges come plenty of opportunities too.
From these interviews, and my own experiences as a CAE at two organizations, I have identified some clear trends, challenges, and opportunities that most CAEs are working to address.
Jason Mefford is a Rock Star – Internal Audit, Risk Management and Compliance. He helps Chief Audit Executives (CAE) and professionals with technical & soft-skills training and coaching to navigate the mine fields of audit, risk and compliance in organizations. http://www.jasonmefford.com/ and http://www.meffordassociates.com
Apple Podcast: https://itunes.apple.com/us/podcast/jamming-with-jason-mefford/id1456660699
PodBean: https://jammingwithjason.podbean.com/
#internalaudit #cae #chiefauditexecutive
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/
or subscribe and listen wherever you enjoy listening to podcasts: Apple Podcasts, Spotify, Stitcher, PodBean, Google Play Music, or YouTube.
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/
If you are ignored by other executives and frustrated getting resources you need, chances are you’re playing at the junior varsity (JV) instead of varsity level. In this episode we’ll explore some questions to ask so you can assess which one you are really playing, and provide some guidance on how you can level-up your playing so you make the varsity team in your organization.
If you’d like to join the webinar Jason mentioned on influence in this episode, you can register at: https://www.bigmarker.com/crisk-academy/Powerful-Everyday-Opportunities-to-Persuade-that-are-Lasting-and-Ethical-Influence-PEOPLE
Get added to the waitlist for when the CAE Forum opens up to new members visit: https://jasonmefford.mykajabi.com/cae-forum-waitlist-page
To listen and for complete show notes and links to downloads, visit: http://www.jasonmefford.com/jammingwithjason/
or subscribe and listen wherever you enjoy listening to podcasts: Apple Podcasts, Spotify, Stitcher, PodBean, Google Play Music, or YouTube.
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.
The Beatles were right when they said “I get by with a little help from my friends.” In fact the only way we get by is with help from our friends. Sometime though we get the idea we need push forward and do everything ourself. I get it. We are taught to be independent and do things ourself. This was engrained in me my whole life.
The truth is, we all need the help of others and need to be there to help others. In fact, if you don’t think you need help … you probably needs the most help. Also, the further we get in our career, the more we need help, but the less we reach out.
Trying to do the job alone often leads to emotional, psychological, and even physical pain. Yes, you’ll hear how I broke my hand trying to do it by myself, and also a story of a bricklayer trying to do the job alone that I heard almost 30 years ago that has stuck with me ever since.
I even need your help, and when you listen, you’ll find out how.
To listen and for complete show notes and links to downloads, visit: http://www.jasonmefford.com/jammingwithjason/
or subscribe and listen wherever you enjoy listening to podcasts: Apple Podcasts, Spotify, Stitcher, PodBean, Google Play Music, or YouTube: https://studio.youtube.com/channel/jasonmefford
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.
If you’d like to get added to the CAE Forum Waitlist mentioned in this article, visit: https://jasonmefford.mykajabi.com/cae-forum-waitlist-page
The IIA recently published an Exposure Document on the Three Lines of Defense Model. Listen to my comments and suggestions for improving the Three Lines of Defense Model and how we can improve our coordination and collaboration with other assurance groups in organizations.
To listen and for complete show notes and links to downloads, visit: http://www.jasonmefford.com/jammingwithjason/
I’m curious to hear your suggestions. Make sure to download the document (see link below) and comment below on social media to let me know what you think.
Three Lines of Defense Review & Survey Open 20 June–19 September 2019
https://global.theiia.org/about/about-internal-auditing/Pages/Three-Lines-of-Defense-Review-Exposure-Document-and-Survey.aspx
The comment period is open until 19 September 2019.
Check out more episodes and full episode videos at Jasonmefford.com, and don’t forget to subscribe on your favorite podcast platform!
