Internal Audit Discussions: Right-Sizing Internal Audit - Benchmarking is Barking Up Wrong Tree
Field: Auditing | Delivery Method: Self Study | CPE Hours: 0.5
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Most Chief Audit Executives (CAEs) struggle with justifying the level of internal audit resources. When internal audit is viewed by stakeholders as a "cost center" this is an annual challenge justifying headcount and annual budgets, especially when the organization is in cost-cutting mode. Many in the profession advocate using benchmarking as a way to "right size" the internal audit function, but this can be a very slippery slope and is based on some faulty assumptions. A much better approach is to focus on the organizational risks and expectations of the board and senior management to develop a resource level commensurate with the risks and expectations.
Your Instructor
Jason Mefford is a rock star in internal audit, risk management and compliance. He typically works with Chief Audit Executives and professionals in audit, risk and compliance with the technical and soft-skills needed to navigate the land mines of organizations. He takes complicated, confusing & hard things, makes them practical, proactive & simple to improve learning and transformation.
Jason is an edutainer, executive coach, professional speaker, facilitator and media producer. He serves the internal audit community through his companies Mefford Associates, cRisk Academy, Mefford CIA Review Course, and the Jamming with Jason Podcast.
You can learn more about him at: http://www.jasonmefford.com and http://www.meffordassociates.com