risk based internal auditing steps forward
TRANSCRIPT
Risk Based Internal Auditing - Steps Forward?
Francis E. Madojemu
How Audit Inspectors & Auditors Care About the
End-User?
"Duty makes us do things well, but love makes u s d o t h em beautifully." — Zig Ziglar
What do you think the staff and even the
company leaders think
of you as auditors?
When the feedback from the staff and personnel is shared with the
auditors, their reaction was:
“Well most of them are not honest and don't follow the protocol?”
In other words they must be stealing or doing something wrong.
What should be our destination
Increase efficiency
& prevent breakdown
What should be our destination
The role of the external auditor in financial services regulation and supervision is one which could be harnessed in such a way as to prevent further corporate scandals such as Enron.
This is possible where necessary safeguards are in place to ensure that the external auditor's integrity, objectivity and independence are not compromised.
It's more than submitting an audit report
You are more than "Bean counters"
Proffer solutions but you can't if you aren't human
FIND THE FEELING
Story 1 - Attila the Accountant
Story - Attila the Accountant
Attila was meticulous about following the rules, to a fault. If you submitted an expense report to his team and left off a single detail—a date, a subtotal—the accountants would bounce the report right back at you rather than simply filling in the detail themselves.
Because of this perceived pettiness, Attila was “pretty much hated throughout the organization,”
Story - Attila the Accountant
Frustrated, Sitkin and Healy asked Attila to join them on a road trip. For the first time, Attila got a gut-check about the harm he was causing with his nitpicking. He came back to the office a transformed man. Mind you, he was still Attila. He was still authoritarian, and he still yelled.
Story - Attila the Accountant
But he changed what he was yelling about. “Before, he’d yell at his staff, ‘Why did you give me this form when it’s got something missing?!’” said Sitkin.
“Afterwards, he switched to, ‘Don’t you realize what happens when we don’t get this check out on time?! People have to make payroll!’”
Story - Attila the Accountant
Most of us; Have never seen things from "audited's" point of view
See the human aspect and turn around time or customer
satisfaction Would you return Dangote's
cheque, experience the emotions
Robert M. Tobias, Man Who Sued Richard Nixon
Prior to his work at American University, he served thirty-one years with the National Treasury Employees Union and as its president in 1983–99.
Then had no one to fight
- To what end was I fighting against. Now i have to fight for the good of others
Robert M. Tobias, Man Who Sued Richard Nixon
He met with local union presidents and said, “It’s not enough to be reactive, to sit behind your desk and wait for management to screw up, which they will, and beat the s---out of them.
You have to be more than an insurance policy. You have to represent the ninety-five percent who never use any union services.”
Best Teacher AwardI don't teach mathematics
What do you teach
I teach kids Mathematics
Best Auditor AwardThis award is presented to an internal auditor who has made a significant contribution to the internal audit profession and to the credit union industry.
The recipient of this award has demonstrated personal and professional leadership in serving the industry, profession, and community.
Luke 16:1-9 (NKJV) The Parable of the Unjust Steward
Luke 16:9 (NKJV)
9 “And I say to you, make friends for yourselves by unrighteous mammon, that when you fail, they may receive you into an everlasting home
Make friends hmmmNot in an illegal way like the steward, the wicked know how to cheat to succeed. The good must use good to succeed also
Do not use it so that it shall not avail you anything hereafter;