Right-Sizing Internal Audit - Benchmarking is Barking Up Wrong Tree
Field: Auditing | Delivery Method: Self Study | CPE Hours: 0.5
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 (CAE), Audit Committee (AC) members, 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 and hard things, makes them practical, proactive and simple to improve learning and transformation.
He's been a Chief Audit Executive, Chief Risk Officer, Chief Ethics and Compliance Officer, Chief Information Security Officer, Board Member, and has trained and consulted organizations all over the world. He is a thought leader in all things governance, risk and compliance (GRC) and internal audit, and is the recipient of multiple awards including:
- Rising Star in Corporate Governance from Yale University
- Rising Star in Corporate Governance Award (Finalist) from Corporate Secretary Magazine
- Thought Leader of the Year (Finalist) from The National Association of Experts, Writers & Speakers
- Fellow from the Open Compliance & Ethics Group (OCEG) Think Tank
You can learn more about him at: https://www.jasonmefford.com and join him in the Audit Leader Forum™ at: https://bit.ly/AuditLeader