World-Class Internal Auditing Slide Deck

Join Norman Marks and Paul Sobel for a conversation about what it takes to have a world-class internal audit function. Norman Marks, who is not only an OCEG™ Fellow but an Honorary Fellow of the Institute of Risk Management, led the internal audit activity at global corporations for about 20 years; he is the author of World-Class Internal Audit: Tales from my Journey and a new book, World Class Risk Management. Paul is the Vice President/Chief Audit Executive of Georgia-Pacific LLC and a former Chairman of The Institute of Internal Auditors.

Norman and Paul will share their views on topics such as:

• Our world is constantly changing and change is the order of the day. Has a gap been created between the value executives and boards need and what IA has traditionally delivered? Is it time for transformation?
• In today’s world of rapidly changing risk profiles, how has risk-based internal auditing changed? Should we now call it enterprise risk-based auditing?
• Is our primary mission assurance or consulting/advisory?
• How often should the audit plan be updated?
• Are audit reports the best way to communicate results?
• Should the CAE issue a formal report on the adequacy of internal control? What about an opinion on the management of risk?
• IT-related risks continue to grow; how should a CAE determine how many of his scarce resources should be devoted to technology?
• Of the new Principles for Effective Internal Auditing, which is your favorite and why?
• How do you build relationships with executive and operating management?
• How do you get the best out of an internal audit team?
• What does a savvy CAE do to win the war for talent?
• Does IA need to educate the audit committee of IA’s potential so that it demands more?
• What is world-class internal auditing?

Learning Objectives

1. Understand how internal audit needs to adapt to a dynamic, constantly changing world
2. Hear from two thought leaders about the evolution of risk-based auditing
3. Obtain Norman and Paul’s insights on audit reporting and communications with our stakeholders
4. Learn what it takes to be recognized as world-class internal auditor

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