Global Internal Audit Research Study – Preliminary ... · Global Internal Audit Research Study...
Transcript of Global Internal Audit Research Study – Preliminary ... · Global Internal Audit Research Study...
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Global Internal Audit Research Study –Preliminary Insights
May 2016
Where insights lead
• Welcome & opening comments | Terry Hatherell
• Global Internal Audit Research Study – Preliminary insights | Terry Hatherell & Neil White
• Global Chief Audit Executive Forum – Key insights | Sandy Pundmann
• Next steps - Supporting you in the marketplace | Terry Hatherell
• Key points of contact
Agenda
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Global Internal Audit Research Study –Preliminary insights
Terry HatherellGlobal Internal Audit Leader
Terry HatherellGlobal IA Analytics Leader
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Global Internal Audit Research Survey – Background
• Global, online survey designed as a follow-up to the release of our global Adapt or Disappear point of view publication
• Targeted at Heads of Internal Audit• Objective: to validate (or disprove) our hypothesis
from our May 2015 Global CAE Forum – that internal audit must adapt in a number of areas to remain relevant
• Approximately 40 questions focused on nine areas of required change; assessing current state and future state
• Survey launched in December 2015 and closed February 28, 2016
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Research Study Results –Visualized in Tableau
• Tableau has been used to analyze and communicate research study results and insights
o Piloted at our recent Global CAE Forum with extremely positive feedback
o Download the Tableau reader here: http://www.tableau.com/products/reader
o Training videos available online: http://www.tableau.com/learn
• Traditional global point of view publication is planned for June release
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Review of Tableau Research Study –Key insights
Global Internal Audit Research StudyWhere Insights Lead2016
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Global Chief Audit Executive Forum –Key insights
Sandy PundmannManaging Partner, U.S Internal Audit
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2016 CAE Forum | April 18 & 19 @ Deloitte University
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Attendees included:• AT&T• Albemarle Corporation• Amkor Technology• Avnet• Baxalta• BRF Brazil Foods• Dana Holding Corp• DeVry Education
Group• Kinross Gold
Corporation• Medtronic• Moody's Corporation• Motorola Solutions, Inc.• PepsiCo• Takeda Pharmaceutical
• Targa Resources• T-Mobile Us, Inc.• Twitter• Uber• Vale S.A• Votorantim Cimentos• WestRock
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Agenda highlights2016 Chief Audit Executive Forum
• Results of Deloitte’s Global Internal Audit Research Study
• A case study in internal audit transformation
• Internal audit analytics panel discussion
• Greenhouse facilitated breakout sessions
• Keynote speaker: Magnus Lindkvist, Futurist
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Insights from the Greenhouse facilitated breakout sessions – strengthening impact and influence
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To open the aperture of change, participants brainstormed a number of “unchallenged beliefs” with respect to internal audit…
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Insights from the Greenhouse facilitated breakout sessions – strengthening impact and influence (cont’d)
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For discussion, participants next determined four key challenge statements where internal audit impact and influence could be strengthened within the context of:
“Wouldn’t it be nice if…• The internal audit function had innovative staffing models in place and
became a magnet for talent (e.g. robust rotational program, guest auditor program, etc.)
• The internal audit function could anticipate risks over the horizon (e.g. predictive analytics, risk sensing, etc.)
• The internal audit function had a strong brand with insightful communication (e.g. visualization, infographics, etc.)
• The internal audit function utilized analytics and technology to transform”
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Wouldn’t it be nice if…Key insights - Challenge statement #1
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CHALLENGEThe IA Function had innovative staffing models in place and became a magnet for talent (e.g. robust rotational program, guest auditor program, etc.)
• We want the best people• Diversity in thinking• Value to the business
Why is this important?
• Poor brand / perception of the function
• Poor relationships• We don’t know what we want• Commitment of the business• Budget
What’s stopping you?
• Creative marketing• Rotation program• Ambassador and alumni programs• Flexible co-source model• “Guaranteed” promotion program
How to? / What might be all the ways?
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Wouldn’t it be nice if…Key insights - Challenge statement #2
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• Gives permission to have a seat at the table
• Enabler for the business – provides guardrails
• Can’t always look in rearview mirror
Why is this important?
• Lack of a seat at the table (‘permission to go there’)
• Don’t know the business / risks• So many changes, fast-paced
What’s stopping you?
• Monitoring disruptive innovation• Experimental audit• Look at competitors and regulators• Risk sensing technologies• Culture risk – pulse surveys
How to? / What might be all the ways?
CHALLENGE The IA Function could anticipate risks over the horizon (e.g. predictive analytics, risk sensing, etc.)
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Wouldn’t it be nice if…Key insights - Challenge statement #3
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• Enables “brand permission” and “seat at the table”
• Brand is critical to recruiting top talent• Clarity of messaging - communication
Why is this important?
• Budget • Skill-set• Out of our comfort zone• We’re not marketers/creative
What’s stopping you?
• Define our brand and get buy-in• Leverage internal branding, marketing and
communication specialists • Develop elevator pitch for all to use• Share success stories
How to? / What might be all the ways?
CHALLENGE The IA Function had a strong brand with insightful communication (e.g. visualization, infographics, etc.)
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Wouldn’t it be nice if…Key insights - Challenge statement #4
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• Efficiency• Expand coverage• Increase impact • Get ahead of the curve• Attracting talent
Why is this important?
• Takes time to understand the business
• People / skills / money• Waiting for data to be perfect
What’s stopping you?
• Define the right future state model• Hire the right people• Change traditional auditing• Pilot to prove and gain credibility• Obtain stakeholder buy-in
How to? / What might be all the ways?
CHALLENGE The IA Function utilized analytics and technology to transform
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Next steps2016 Chief Audit Executive Forum
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Coming Soon – Global Point of View publicationHow internal audit can make magic
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Promotion on Deloitte.net, social media, global press
release, IIA Magazine, Compliance Week, etc.
Launch kit distributed to
Member Firms
Next steps – timeline of planned activities
Tableau file and supporting data
distributed to Member Firms
Global Research Study point of view publication released
Analysis and development
activities by Global
May 31 June 30
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Next steps – How you can take advantage of the study
Localize and release the Point of View publication in your market. Add local insights and contacts to customize the global POV. We plan to provide you with a launch kit to help you in your marketplace
Global insights video
Launch kit contents
Template email for internal
distribution
Template cover letter for externaldistribution
Editable version of
POV
Editable version of
press release
Social media copy (Twitter,
LinkedIn, etc.)
Use the Tableau Research Study in your market! Share the Research Study insights with clients and targets to have impactful discussions
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Please let us know if you have any questions.
Key points of contact
www.deloitte.co.il
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.
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