With the news of problems facing RIM and its intention to cut 2,000 jobs worldwide ,due to declining sales, I am reminded that Canadian success stories may not be as successful as we think .Yesterday it was Nortel and today it is RIM, and who knows who it will be tomorrow ! What is happening in Corporate Canada? Is it merely the conditions of the markets that are leading to these results? or lack of leadership? My guess is that it is the latter! Look at the co –CEO structure at RIM as an example! Another RIM example would be its new Playbook that does not have G3 connection! It only connects to the internet through Wi-Fi! I did not expect this from a company that manufactures one of the best smart phones in the world!How would they be able to compete with Apple with a product like this?
Tuesday, 19 July 2011
I am following with interest the Murdoch’s scandal to see how the lack of corporate governance played a role in it, although it is obvious. This case will also help me finalize an article on reputational risk that I am working on and will be published in the Federated Press’s Internal Audit Journal later this coming fall.
Saturday, 16 July 2011
I have been following discussions on whether internal auditors add value to their organizations, and whether the “value - adding” factor is an objective of internal audit.
To start with, I believe we need a clear definition of the term “add value” when it comes to internal auditors. Does it mean saving money? Or providing a service that goes beyond the expected standard? Or something else?
I strongly agree with the argument that the main objective of internal audit is to provide assurance .If internal auditors can add value while satisfactorily achieving this objective, it would be great. Any added value activities should not impair internal audit independence and objectivity.
My concern is that internal auditors may try to convince themselves that they are consultants first and auditors second .This is a dangerous path. Ask anyone from Arthur Andersen, myself included, and if they are honest they will tell you that the beginning of the end of the firm started when partners and managers were converted to salesmen to sell consulting jobs!!
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