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Thought Leadership: Insight Creates Value

Have you considered submitting an article to the Thought Leadership Committee at IIA Canada?  View the potential article categories, writing requirements as well as the benefits of becoming an IIA Canada Thought Leader.  To view the requirements, please click here.

May 2017 "A Seat at the Table"  Influence and Leadership, By Elaine Turner
Over the last several months, as a participant in the OCG’s Leadership pilot program, I have enhanced my appreciation of the qualities required of a leader and perhaps more importantly, some of the unique attributes that distinguish an auditor as a leader. To read the full article, please click here.

April 2017 Leveraging Internal Audit Information, By Marc Belanger
Management in the Government of Canada is continuously searching for new and innovative ideas to better implement and manage their initiatives. For this reason, much has been written recently on "deliverology" - the science of delivering on goals and promises1 - as the key to meeting government commitments. To read the full article, please click here.

April 2017 Proud to be Federal Government Internal Auditors, By Julie Betts
At a recent meeting, a colleague asked me how I came to become an internal auditor. I laughed and said that I fell into it! During an interview, while in my last year of university, a recruiter from the Treasury Board Secretariat asked me if I was interested in either the Finance or Internal Audit Recruitment Development Program. To read the full article, please click here.

February 23, 2017  The Role of the Internal Auditor in Business Resilience, authored by Cliff Trollope, Darcy Atkinson and Mariesa Carbone.  On a hot, dry day in early May 2016, winds whipped a wildfire in northeastern Alberta into a massive, out-of-control inferno, driving flames and heavy smoke straight into the town of Fort McMurray. Within hours, almost 90,000 people had been evacuated from the region, including workers from oilsands operations representing about 20 percent of Canada’s crude oil production. To read the full article, please click here.

October 24, 2016  The Power of Rhetoric, authored by Murray D. Wolfe and published in Internal Auditor.  Internal auditors are fortunate to have robust professional standards to help guide and inform the performance of their work.  One of the main pillars of these standards, is of course, the need to remain independent from the organization so that audits can be conducted without bias.  Independence helps better position auditors to identify solutions to key problems, and it prevents them from taking direct action to implement those solutions.  To read the full article, please click here​.

September 22, 2016  ​The Potential of Big Data Analytics is Significant, authored by Richard Arthurs.  Is value creation from Big Data analytics a contradiction?  From my experience overseeing data analytic projects in the U.S. and Canada over the last 15 years, there are many critical things to consider to drive value from such analytics.  This article identifies several reasons why Big Data analytics projects fail and why others succeed.  In the near future, the companies that get this right will leverage Big Data analytics to gain powerful competitive advantage. To read the full article, please click here​.

June 22, 2016  ​Reflections on the 75th Anniversary of our Profession, authored by Sally Chan.  More often than not, audit clients’ knowledge of our profession is less than we think. While the scope of internal audit has continued to evolve and expand, with a remarkable shift from traditional finance, operations, IT  to strategic business alignment, risk management, project assurances and more, audit clients are more interested in “what did we do wrong?” than “what can we improve together”. The image of the traditional stereotypical 20th century auditor still exists. The good news is that the opportunity to up the game is abundant.  To read the full article, please click here​.

May 2016 INNOVATION, INTERNAL AUDIT AND THE GOVERNMENT OF CANADA, By Anne Weldon-Lacroix
If necessity is the mother of invention, where does innovation belong? Today, innovation is of key interest in the business world and within the Government of Canada. Experts claim that innovation is key for improved performance and essential for bottom line deliverables and corporate success. A position paper, Innovation Risk and Control written by CCAF-FCM, a Canadian non-profit research and educational foundation with the support of leaders in business and the Government of Canada, sets out strong rationale for the use of innovation. To read the full article, please click here.

March 6, 2016  20 Questions Directors Should Ask About Internal Audit, authored by Bruce Webster. CPA Canada, with assistance from IIA Canada.  The Risk Oversight and Governance Board (ROGB) of the Chartered Professional Accountants of Canada (CPA Canada) has commissioned this publication to help directors overseeing the internal audit function understand the rapidly changing environment in which their organizations are operating.  The document addresses the increasing number and complexity of risks facing organizations, and focuses on how internal audit must adapt its role in order to 'build value' while helping to mitigate these risks.  To read the full article, please click here​.

March 3, 2016    Ensuring Boards get Value from Internal Audit - ICD in Collaboration with CPA & IIA Canada.
How Internal Audit can Help Audit Committees with Their Ever-Increasing Responsibilities.  Delivered by Richard Arthurs.  Please click on the link to view.

January 9, 2016
The ERM Tipping Point, authored by Richard Arthurs, CPA, CMA, CIA, CFE, CRMA
What does it take to tip the scales in Canada, from practitioners constantly selling ERM to having a sustainable and in-demand enterprise risk management (ERM) program that drives material incremental value to the business? When will we reach the tipping point where the majority of Canadian companies see ERM as essential to strategic success?

Read about the ERM 'sweet spot' and the secrets to ERM success. To read the full article, please click here.

December 15, 2015
Meeting Risk Governance Expectations, authored by Richard Arthurs and Doron Telem
The role of the audit committee (AC) is without question expanding, particularly in the area of risk. From cyber threats — such as hacking and cyber terrorism — to issues as diverse as privacy, disaster recovery and regulatory compliance, risk is occupying a growing amount of the AC’s time. One way ACs can become more efficient and effective in addressing risk is to better leverage the support and expertise of their internal auditors. To read the full article, please click here.

 

December 15, 2015
Mass Marketing Fraud Affecting Canadian Businesses
Mass marketing fraud (MMF) is an international problem that is only growing. MMF continues to pose a significant financial threat to Canadians and its businesses. Annual Canadian losses have steadily increased over the past ten years reaching more than $74 million in 2014. The CAFC reports that this represents a 266.94% increase since 2004 when losses were slightly less than $20 million. To read the full article, please click here.

 

​October 2015         Mastering Risk Awards, In early 2015, Crowe Risk Consulting, in collaboration with the Institute of Internal Auditors (IIA) Canada, launched an inaugural survey of risk management professionals to identify best practices in internal audit and risk management in Canadian organizations. This survey was undertaken as part of an ongoing initiative to recognize organizations that have demonstrated sustained efforts toward mastering risk. This report examines the survey responses and explores the implications of the survey findings. During the course of this analysis, four major themes emerged. These themes suggest areas in which organizations can find opportunities for improvement: first, by clarifying their approach to the three lines of defence model; second, by taking a more strategic approach that elevates risk management to a higher priority; third, by developing methods for demonstrating results; and fourth, by working with the audit committee and senior management to establish a “mastering risk” culture.​  To read the full report, please click here​.​