The Audit Podcast

Norman Marks, an influential author and thought leader in internal audit, emphasizes the critical need for Chief Audit Executives to secure appropriate budgets amidst rising demands. He shares practical strategies for justifying resources and aligning audit activities with organizational objectives. The discussion also highlights the evolving role of auditors, urging them to embrace critical thinking and active listening to enhance their value. Personal insights and reflections on modern communication add a relatable twist to the conversation.

Richard Chambers, former CEO of the IIA and current senior advisor at AuditBoard, dives into the critical notion of connected risk. He emphasizes its growing importance, particularly in an era shaped by disruption like COVID-19. The conversation revolves around fostering cross-functional teamwork in risk management, anticipating downstream impacts, and embracing change for better collaboration. Chambers also shares insights from his book, advocating for a proactive approach to turn risks into opportunities and enhance audit practices.

Join Stephanie Richard, Chief Audit Executive at Ally, as she shares her journey of transforming a 150-member internal audit team into a data and AI-driven powerhouse. She discusses overcoming cultural challenges and the importance of curiosity in auditing. Richard offers invaluable advice for current and aspiring CAEs, emphasizing the need for innovation, adaptability, and reframing failure as a learning opportunity. Discover how building new habits can reshape audit culture and prepare teams for emerging risks!

This week’s episode, we're joined by Aaron Gagnon, Partner and Chief Audit Officer at McKinsey & Company. In this episode, Aaron shares his personal mantra, "show up and try," and explains how this mindset influences his work and life. He highlights his unique approach to hiring, focusing on both experience and key qualities that set candidates apart. Aaron also discusses the challenges of managing relationships across the C-suite, audit committees, and management staff, offering practical insights for handling these dynamics.  Be sure to connect with Aaron on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 3:38 - What's in your Internet Browsing History? 8:40 - Aaron’s motto: "Show Up and Try." 16:15 - Aaron's Hiring Mindset 25:15 - Fraud Story 26:09 - The Challenge of Regulators as a CAE 29:14 - Building Relationships with Trust 32:44 - Building your Philosophy as a Leader 36:02 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week’s episode, we are highlighting clips from previous episodes of the best advice about hiring and retention. In this episode, Scott Madenburg talks about the balance between recruiting for talent versus character, while Melissa Pici highlights the importance of screening candidates for passion, curiosity, and drive. Jo Erven shares her approach to preparing the next generation to tackle hiring and retention challenges, and Megan Blackstone outlines her company’s process for building a talent pipeline that helps them fill roles within a month.   Be sure to connect with Scott, Melissa, Jo, and Megan on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 1:41 - Recruiting Talent vs. Character 7:47 - Screening Candidates for Passion, Curiosity, and Drive 11:03 - NextGen Solution to Hiring and Retention 15:11 - How to Build a Talent Pipeline and Fill Roles within a Month   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

This week features Jennie Wallace, CEO and Founder of Melody Advisory Services, an expert in audit and risk management. She shares insights on improving relationships between auditors and management, emphasizing empathy and communication. Jennie discusses how to avoid 'dumb findings' that create friction and the value of good judgment in audits. She also explores the importance of audit independence and how AI tools like ChatGPT can enhance productivity in audit tasks. Tune in for her engaging anecdotes and practical advice!

This week’s episode, we're joined by Mike Lynn, owner of ARG*O and Adjunct Professor at St. John's University. Recognized by the IIA as the "Funniest Accountant in America," Mike brings a unique perspective to the podcast. In this episode, Mike talks about the power of humor in business, including how he incorporates it into serious audit situations. He recounts his stand-up comedy background and discusses how improv skills can be invaluable in boardrooms. Mike even shares a memorable story of how a well-timed joke shifted the mood of an audit committee.   Be sure to connect with Mike on LinkedIn.   IIA Article - IAm Michael Lynn   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 7:13 - From Standup Comedian to Funniest Accountant in America 21:48 - Best Methods for Planning out Humor in your Presentations 30:30 - Internet Browsing History 34:35 - AI and Humor 38:36 - How Auditors can be Better at Improv 48:13 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics. *   AuditBoard’s integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, risk management, and security compliance. Automate processes and improve execution with AuditBoard’s purpose-built solution, which is designed to address the most pressing challenges of today's practitioners. Experience the latest in Audit, Risk, and Compliance technology. Visit AuditBoard.com to schedule your product walkthrough to see AuditBoard’s award-winning platform in action today.   *   Want to start audit analytics but have limited time and technical skills? Need to get quick wins and demonstrate value fast? Supervizor is an audit analytics platform providing 350+ ready-to-use checks directly applicable to any financial system and industry, enabling internal audit teams to continuously monitor for risk and get the value of an audit analytics program in less than a week. Book a demo or visit Supervizor website.      

This week’s episode, we're joined by Mark Houston, a Partner at Audient Group. He is a seasoned expert in Fraud Risk Management and Data & Analytics Strategy. In this episode, we explore the world of fraud detection as Mark shares his top two favorite fraud cases. We also cover current fraud trends in both organizations and personal life, introduce elder fraud protection, and highlight the use of data in audits.   Be sure to connect with Mark on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 6:05 - ChatGPT 10:49 - Fraud Use Cases 19:13 - Fraud Trends 28:50 - Elder Fraud 36:41- A Love Letter to Auditors 41:03 - Using Data for an Effective Audit 50:41 - Final Thoughts * This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics. * AuditBoard’s integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, risk management, and security compliance. Automate processes and improve execution with AuditBoard’s purpose-built solution, which is designed to address the most pressing challenges of today's practitioners. Experience the latest in Audit, Risk, and Compliance technology. Visit AuditBoard.com to schedule your product walkthrough to see AuditBoard’s award-winning platform in action today * Want to start audit analytics but have limited time and technical skills? Need to get quick wins and demonstrate value fast? Supervizor is an audit analytics platform providing 350+ ready-to-use checks directly applicable to any financial system and industry, enabling internal audit teams to continuously monitor for risk and get the value of an audit analytics program in less than a week. Book a demo or visit Supervizor website.  

This week’s episode, we're joined by Michelle Velez, Vice President of Internal Audit at ITT Inc. Michelle offers a unique perspective, having transitioned from a tax background into internal audit. In this episode, Michelle covers how to audit tax processes effectively, why tax strategies matter, and the role of analytics in making audits more efficient. Michelle also shares lessons from her first year as CAE and practical tips for improving audit processes.   Be sure to connect with Michelle on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 7:51 - Journey from Tax to CAE 11:14 - Where to Start in Audit from a Tax Perspective 13:47 - Lessons Learned from Being a CAE 16:58 - How to Audit Tax 22:28 - Tax Jurisdiction Information 27:24 - Efficiencies and ROI Hacks 30:46 - Final Thoughts    * This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics. * AuditBoard’s integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, risk management, and security compliance. Automate processes and improve execution with AuditBoard’s purpose-built solution, which is designed to address the most pressing challenges of today's practitioners. Experience the latest in Audit, Risk, and Compliance technology. Visit AuditBoard.com to schedule your product walkthrough to see AuditBoard’s award-winning platform in action today * Want to start audit analytics but have limited time and technical skills? Need to get quick wins and demonstrate value fast? Supervizor is an audit analytics platform providing 350+ ready-to-use checks directly applicable to any financial system and industry, enabling internal audit teams to continuously monitor for risk and get the value of an audit analytics program in less than a week. Book a demo or visit Supervizor website.  

Secure your spot at the 2024 Audit Analytics and AI Conference today!   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics. AuditBoard’s integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, risk management, and security compliance. *   AuditBoard’s integrated suite of easy-to-use audit, risk, and compliance solutions streamlines internal audit, SOX compliance, risk management, and security compliance. Automate processes and improve execution with AuditBoard’s purpose-built solution, which is designed to address the most pressing challenges of today's practitioners. Experience the latest in Audit, Risk, and Compliance technology. Visit AuditBoard.com to schedule your product walkthrough to see AuditBoard’s award-winning platform in action today.   *   Want to start audit analytics but have limited time and technical skills? Need to get quick wins and demonstrate value fast? Supervizor is an audit analytics platform providing 350+ ready-to-use checks directly applicable to any financial system and industry, enabling internal audit teams to continuously monitor for risk and get the value of an audit analytics program in less than a week. Book a demo or visit Supervizor website.