Tuesday, January 22, 2013

How to tarnish your company's reputation in 30 seconds?‎

Yes it’s possible; it only takes an inappropriate tweet or a status update on a social media web-page such as Facebook , LinkedIn  or a short video on  You Tube to cause a major damage to a company’s hard earned reputation or brand .This could happen intentionally or as a result of ignorance or oversight.  While the company may not have control over the intentional acts, it can do something to eliminate, or at least minimize, the actions caused by ignorance or oversight. Here is what I think can be done:
  • It starts with recognizing the power & risks of social media .If management does not believe in it, then such management is part of the problem, not part of the solution.
  • Raise awareness at all levels in the company about the benefits and risks associated with social media.
  • Conduct training to educate all employees on how to deal with social media at work or in their private life.
  • Set a clear and concise social media policy and ensure that it is distributed to and understood by all employees.
  • Include social media risks in the company’s risk management plan.
  • Include social media behavior in the company’s Code of Ethics.
  • Perform Social Media audits on continues basis.
Can you suggest more actions or discuss your company's experience with this issue ?

Tuesday, January 8, 2013

‎ Shall we promote the CAE to CAO?‎

The Head of the Internal Audit department is usually referred to as the Chief Audit Executives (CAE). It seems this is a generally accepted title and is being used worldwide. But, do you think that it undermines the position compared to the other “C” suite positions? For example, we don’t call the top financial person Chief Financial Executive ( CFE), we call him/her Chief Financial Officer ( CFO). The same applies to other executive positions  such as CEO, CIO , CRO...
If we really want a seat at the table, shall we start by having the right title!! Why not start by changing CAE to CAO (Chief Audit Officer).
I am interested in your views and I hope that it goes beyond “ this is a formality “ and “ substance over form” cliche!

Are you getting the most from the ethics mandatory hours?

 Like many of you at this time of year, I have been looking to take the mandatory two hours of ethics training to comply with the IIA cpe  r...