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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