Jamming with Jason Mefford

In order to really add value to your organization, internal audit has to move to the strategic level. Too often we spend our time in the details and weeds and then wonder why executives are not interested in what we have to say. If you are being ignored, you are probably not talking and acting at the strategic level. Unless we focus on what is relevant to executives and the board, we risk being vi...

Independence and objectivity are two words I hear auditors use incorrectly all the time. Even though the standards describe internal audit as being independent and objective, the truth is very few internal audit functions are truly independent, but we have to remain objective. While we may not be able to control our independence (don't worry I explain in the episode) we have complete control over...

As we move forward in our career it's easy to wake up one day and realize we haven't really invested in ourselves in years. I know, cause I've been there too. We get so busy dealing with the day-to-day stresses on our job, trying to balance life-work commitments that we don't take time to invest in ourselves. We become dependent on our employer to provide or pay for training, and when that doesn't...

Auditors experience resistance from audit clients and others in the organization on a regular basis. Using the six principles of Influence helps build relationships, overcome objections, and help people take action. Incorporating these principles into your work and personal life will help you persuade without manipulation and avoid the extra stress and frustration caused by resistance. Jason Meffo...

Most people in internal audit focus a lot of time and energy on technical skills, ignoring soft-skills since those are just "touchy-feely" topics anyway that aren't that important in internal audit. Think again. You will still get ignored no matter how technically competent you are. The key to being heard and moving to trusted advisor status is through developing soft-skills. Internal audit can al...

Yep, you read the title correctly. Performing an excellent audit, following all of the standards, and writing a great report won't stop you from getting fired. In fact, sometimes that is what helps gets you fired. To learn more, and how to avoid those land mines, take a listen to this episode. There is also some important information about the upcoming IIA International Conference from 7-10 July i...

Certifications are an important part of developing one's career, but you need to focus on the right certifications and learning. We'll discuss the Big-3 certifications (the ones internal auditors should have) and how to make informed decisions about the training and learning needs to move your career forward. Hint: it's not about just getting alphabet soup certifications behind your name, it's abo...

Moving to an agile internal audit approach is a big shift in mindset. It is not just performing audits in a more nimble or lean way. It is about using agile methodologies to transform the whole audit process. This method produces a more collaborative approach with the audit client, a more self-managed team mentality, and scheduling the audits in time box work cycles (sprints). This fundamentally c...

Internal audit has established some great traditions over the years. As Tevye, the character from Fiddler on the Roof said: "Traditions, traditions. Without our traditions our lives would be as shaky as... as a fiddler on the roof!" Later; however, Tevye realizes, "our old ways were once new, weren't they?" We have to be willing to change with the times and create new traditions that provide more...

Most Chief Audit Executives (CAEs) struggle with justifying the level of internal audit resources. When internal audit is viewed by stakeholders as a "cost center" this is an annual challenge justifying headcount and annual budgets, especially when the organization is in cost-cutting mode. Many in the profession advocate using benchmarking as a way to "right size" the internal audit function, but...

Many professionals get caught in a CPE mindset when it comes to professional development. A CPE mindset will not get you promotions or new positions. In the knowledge revolution, we have to become lifelong learners - those concerned with learning and growing each day, week, and month - not just completing hours of random CPE each year. Find out how to switch mindsets, increase your likelihood of h...

As auditors we audit the effectiveness of controls and make recommendations for improving controls. If we are not careful, what we may actually do is recommend ineffective controls or try to over control our organizations, effectively strangling the organization and making it more difficult to achieve objectives. Here's a case study showing some ineffective and over control from one of the largest...

Jason Mefford is joined by Dan Clayton, for a discussion of how internal audit is evolving and changing, driving some of the updates to Sawyer's Internal Auditing, 7th edition. Information in the International Professional Practices Framework (IPPF), the Internal Audit textbook, and CIA Review Course materials, provide a basis for how to practice internal auditing, but Sawyer's Internal Auditing (...

A recently released study from the AICPA and NC State show that despite the constant drumbeat for improving and formalizing risk management processes, most organizations are still way behind in their efforts. When 60% agree the volume and complexity or risk have changed extensively over the last five years, and 65% of boards are call for "somewhat" to "extensively" increasing managment involvement...

I spent the last several months interviewing many chief audit executives (CAEs) from all over the world to gain a better understanding of the current state of internal audit. What I found is that not only is the pace of change accelerating at an alarming rate, but along with the mounting challenges come plenty of opportunities too. From these interviews, and my own experiences as a CAE at two orga...

When we try to go through this thing called life and our career alone, the road is hard and usually full of landmines. It's better to admit we need help and create or join a group that can be a support network and group of advisors before the stress and pressures from work spill over into our personal life and send us spiraling downward. There is magic in groups. When the right people get together...

Many support functions in organizations want to be seen as a “trusted advisor” to the business, and internal audit is no exception. There is an aspiration to provide value, so we work really hard proving to ourselves that we are adding value, but other don't see it and tend to runaway. “And I wonder, I wo, wo, wo, wo, wonder, why,” we aren’t seen as trusted advisors. Maybe it’s because we don’t re...

In this first episode of Jamming with Jason you'll hear a little ditty about the show - format, content, and why this show is being produced. We'll also discuss some of the elephants in the room related to internal audit - the topics of many of the future shows. This is a real, unscripted, and unedited show about what it takes to be a successful Chief Audit Executive and professional in internal a...