Monday, August 15, 2016

Let's not Glorify the Fraud Culture!

 Recently, I have been watching some interesting TV shows!The common theme of these shows evolved around fraudsters and con men who are portrayed as being smart and charismatic with exceptional talent. Some are portrayed as the go to experts to solve problems that can't be solved by hard working honest professionals!They are presented to be the solution rather than the problem. The sad reality is that it is easy for most of us to admire such characters and fall in love with them!

The Dangerous Message!

While the purpose of the shows is to provide entertainment, they are also sending an unintentional dangerous message to the youth that being a fraudster is actually a "cool thing". It is not a secret that at this era of rapid technological advancement the difference between what is real  and is virtual  and fiction may not be so obvious to some!

It All Starts at Home!

Fraud will always be out there and it will be evolving contentiously .We can not completely eliminate it, but we can fight it before it becomes a monster ( if it does not already became one in your country). We can only do this by starting  at the source, our kids!

 Preventing, fighting  and building awareness about fraud starts at home at an early age. Parents need to keep a close eye on what their children read and watch and who their role model is.
 A few years back, my teenage son expressed his desire  to become a broker after watching the Wolf of Wall Street movie! It took several rounds of discussions to explain to him the difference between an ethical broker and a bad one.

Let's not glorify the fraud culture and start to build an anti-fraud one starting from our homes!

These are my thoughts, please share yours

Friday, August 5, 2016

Is There Such Thing as the "Future Auditor"?

The last issue of Protiviti's "The Bulletin" entitled "The Future Auditor Revisited ", discusses some of the characteristics of future auditors and how they can add more value and stay relevant. It builds on  the firm's 2014 vision of future auditors. It suggests that future internal auditors should:

  • Focus More on Strategic Risks
  • Think Beyond the Scope
  • Add More Value Through Consulting
  • Facilitate Effective, High Quality Communication 
  • Elevate Stature and Perspective
  • Align Stakeholder Expectation
The firm offered an example of 15 ways the future auditors can achieve the above and add value:

While I have no problem with the above, I am not sure why we are still talking about it as the "future" when it has been around for years! Should not this be the present and we start thinking beyond it to shape the future of internal audit. Are internal auditors stuck in their past that the future remains a moving target! Or to put it bluntly:Is there such thing as the future auditor?

These are my thoughts,please share yours!

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...