Thursday, June 14, 2012

Soft Controls: The human angle of an audit!‎

I have recently attended an IIA webinar about Coordinating Risk Management and Assurance.  One of ‎the poll questions was as follows:

Soft controls are easier to audit:

‎–Depends on circumstances

Almost two thirds of the respondents choose “false” while the other third choose “it depends”.‎
Soft controls in the above mentioned webinar were characterized as controls that” Tells you what’s ‎really inside the people”.

‎ Having determined the difficulty of auditing soft controls, my question is as follows: Are internal ‎auditors really trained to audit soft controls? Do we need some basic training on human behavior and ‎psychology?

Please share your thoughts and experience.‎


Friday, June 8, 2012

Can a CAE become a CFO ?

I am always asked if a CAE can make the move to operations and become a CFO. My short answer is ‎‎“yes” and my detailed answer is “it depends”.‎
My” yes” answer assumes that the CAE has the experience, educations and mindset that enables ‎him/her to function as a CFO. I always believe that you cannot audit what you do not understand; ‎accordingly, any successful CAE should have a good understanding of the CFO function.‎
My “it depends “answer refers to the fact that CFO roles may be influenced by the complexity and ‎nature of operations of the organization. I believe that there is no “CFO” fits all type of thing. Each ‎organization has specific requirements of its CFO experience and education. An organization going ‎through an IPO, for example, would require different type of CFO than a small or not for profit ‎organization.‎
I would love to hear from CAEs who made it to the CFO position .Please share your experience, ‎recommendations and lessons learned during this process.‎

Can Internal Auditors Identify Corporate Identity Crisis?

According to a Globe and Mail article published a couple of days ago, Canada's favorite coffee shop chain ( Tim Hortons) is going thr...