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 Free-to-Members Webinar - Is IA the Next Blackberry - It Really is Time to Reinvent the Profession

3/14/2017 1:00 PM
3/14/2017 2:30 PM
Via Webex |  
All times indicated are ET.  1.5 CPE credits available for live attendance.

Over the past decades there have been a series of major corporate governance crises.  After each wave post-mortems were convened and efforts made by regulators to identify root causes.  The good news, or the bad news, for the internal audit profession depending on your perspective is that rarely were questions raised by those commissions and regulators about the role internal audit should have played to avoid the current crisis being reviewed. What the commissions did call for was a massive global focus on the need for boards of directors to better oversee risk in their organizations.  As pressure on directors mounts globally to improve board risk oversight their dissatisfaction with traditional internal audit services is also growing. This paper suggests the root cause of the mounting internal audit customer dissatisfaction globally is internal audit “paradigm paralysis” – a strong attachment to traditional ways of doing internal audits that no longer meet the needs of key customers.  A new approach to ERM and internal audit called “OBJECTIVE CENTRIC FIVE LINES OF ASSURANCE” is proposed as the way forward to better meet the needs of key ERM and internal audit customers.  

This session will cover:

 .              What is “Paradigm Paralysis”?

 .              Paradigm paralysis: ERM

 .              Paradigm paralysis: Internal Audit (IA)

 .              Who is most negatively impacted by ERM/IA paralysis?

 .              Who could drive positive change?

 .              Barriers to change

 .              The way forward: OBJECTIVE CENTRIC FIVE LINES OF ASSURANCE (OC5LoA)

 .              OC5LoA: The business case for internal audit and ERM specialists

 .              OC5LoA: Implementation options

Our speaker is Tim J. Leech FCPA CIA CCSA CRMA is Managing Director at Risk Oversight Solutions Inc.  He has over 30 years of experience in the board risk oversight, ERM, internal audit and forensic accounting fields, including expert witness testimony in civial and criminal proceedings, and global experience helping public and private sector organizations with ERM and internal audit transformation initiatives.