Welcome to 2020
A new year and a new decade
New Year is a time of making resolutions and the majority revolve around eating less, getting fit and achieving a work balance. Statistics reveal that 86% of those well-meaning intentions are forgotten by the end of January.
However Richard Chambers, CEO and President of IIA Global, has taken the steps to share his five internal audit resolutions for 2020 and beyond which is a salient message to us all.
- Speak candidly with the Board about the organisation's true capacity to manage risks. Boards are overconfident and generally perceive higher levels of maturity in risk management practices in the organisations they oversee. This should raise serious questions about whether boards have realistic views on key risks and the organisation's ability to manage them. Internal audit cannot defer to others the need to correct any misperceptions that may exist. Whether speaking through the audit committee chair or directly to the board, chief audit executives should begin a dialogue on this issue. It is important to position this conversation as one where internal audit offers its insights and advice about the organisation's risk management alignment, and not point fingers at those to blame for any misalignment.
- Assess the organisation's sustainability risks, and discuss with management and the board. There is growing realisation among corporations about the importance of sustainability. Internal audit must take advantage of this by understanding and assessing sustainability risks, including the accuracy of sustainability reports that address an organization's economic, environmental, and social impacts.
- Enhance how we tell internal audit's story. One of the biggest challenges practitioners face is showing stakeholders how internal audit adds value. They may not appreciate the value that independent assurance and an organisation wide perspective offer over the long term. Therefore, our goal must be to improve how we tell our story. Two quotes are appropriate here. Harvard University professor Howard Gardner calls stories "the single most powerful weapon in a leader's arsenal." This means we need to be clear and compelling in how we make the case for internal audit adding value. The second quote comes from entrepreneur and marketer Seth Godin who says, "Marketing is no longer about the stuff that you make, but about the stories you tell." Ultimately, the "stuff" internal audit makes improves organisations, but that won't matter if we don't enhance how we tell our story.
- Improve our use of and credibility around RPA and AI. Boards and executive management that understand technology can improve operations, provide a competitive edge, and influence strategy. Internal auditors must show our stakeholders we can adopt and adapt technology to improve the work we do, as well.
Robotic process automation (RPA) and artificial intelligence (AI) are working their way into internal audit processes, but the pace has been slow. Just 19% of functions report using RPA and 17% use AI, according to Protiviti's 2019 report, Embracing the Next Generation of Internal Audit.
- Hone in on risks related to data ethics. As the use of data by organisations increases, so will the risks associated with how it is gathered, managed, used, and protected. It is inevitable that regulation on data will evolve. Indeed, public scrutiny on organisational conduct relating to data is increasing.
For these reasons, internal audit must step into a leadership role in educating stakeholders on risks related to data ethics. We can start by encouraging management to develop guideposts that measure whether the organisation's use of data aligns with risk tolerance, and then provide assurance around adherence to those guideposts.
The new year offers significant opportunities, as outlined in these five resolutions. If we can embrace them and make steady progress, our 2030 vision of becoming universally recognised as indispensable to effective governance, risk management, and control can be attained.
2020 Member Subscriptions
Membership renewal invoices for the 2020 financial year have been emailed to members this week. The Board has resolved to hold the member subscription fees to the same rate as 2019. For any queries relating to membership subscriptions please contact the office on 04 384 8840 or admin@iianz.org.nz
Tip of the Year
We are constantly reminded to protect our security, keep passwords safe and never disclose personal details on line, the list goes on. Yet a very simple oversight that could have potentially devastating implications is how we abbreviate the date on all manner of documentation. It is common to write/type the year as the last 2 digits of the year e.g. 01/01/20 or 1 January 20. However this year the last two digits can lead to placing additional numbers after the "20" to either pre or postdate your intended date e.g. 01/01/2019 or 1 January 2021. Be safe and write the year in full for 2020! This will not occur again until 2121.
Nominations for Board Vacancies
A call for nominations has been made to fill the vacancies on the IIA NZ Board. Nominations close Wednesday 18 March 2020. Click here for the Nominations form.
IIA NZ App
Released prior to Christmas, the IIA NZ App allows you to register for events, connect to the IIA NZ site and receive updates on industry happenings as well as access member discounts at a selected range of nationwide retailers. The app content will be evolving; let us keep you up to date.
To get the IIA NZ app, click here to view the download instructions, and make sure you have your membership ID number handy. If you are unsure of your membership ID number, log in to www.iianz.org.nz and it will be displayed on the My IIA homepage.
The discounts offered are called Perk and Perk+. By setting up the IIA NZ app you can receive discounts at stores such as Noel Leeming and Bunnings. The deals vary by store and even by products in store. As a little extra bonus, the app also has an entertainment package called Perk+. You can view the deals in guest mode and if you wish to have access to the extra deals, can purchase a 12-month subscription.
The app replaces the credit size card provided in the past and we believe will be more convenient and a great way for us to keep you up to date on happenings and for you to enjoy the discounts available at nation-wide retailers.
We value all that you do and hope that you enjoy some value back in your pocket!
Download the app, have a look around and if you have any questions, please contact us at admin@iianz.org.nz
Testimonial
Many happy members have taken advantage of the discounts available and one such member advised that she used the app at Noel Leeming when purchasing a gift for Christmas. The $130.00 price tag was reduced to $50.00 after scanning the code - an $80.00 saving!
Acknowledgement
Michael Cox, Life Member and past President 1987 - 1989 has retired from the Internal Auditor Editorial Advisory Board, having been a member for nearly 30 years! Michael still retains his links with IIA NZ despite residing in the UK. Our thanks goes to Michael for his unswerving commitment to the profession and to the IIA globally.
Those wishing to subscribe to the excellent bi-monthly IA magazine please contact admin@iianz.org.nz
CCMS Access
Effective 14 January 2020, all Certification Candidate Management System (CCMS) users are required to validate their CCMS account using the primary email address on file.
The launch of Single Sign On (SSO) allows CCMS users the ability to have one username and password to manage their access to The IIA global website, CCMS, and PearsonVUE exam scheduling system.
Please follow the steps below to validate your CCMS account:
- Go to https://www.theiia.org/ccms
- Click Sign in
- Use your primary email address
- If your password is invalid, select "Can't Access Your Account. Click here" and follow the on-screen instructions to reset your password.
- Once you have successfully accessed your CCMS account you have completed this process and no further action is required.
If you encounter any issues validating your account or you no longer have access to your primary email address, please contact Affiliate.CertSupport@theiia.org
SOPAC
IIA-Australia is pleased to invite you to the South Pacific and Asia Conference (SOPAC®) held in Brisbane from 15-17 March 2020.
The 2020 event will feature a new two-day programme format and a dedicated risk management stream, to deliver more in today's time-poor business environment. The programme will cover the key emerging issues impacting organisations now and, in the future, exploring solutions and strategies to ensure the assurance profession remains ahead of the curve.
Sessions will include insights on current and future macro issues and trends that will influence the way organisations operate; case study examples on how to undertake internal audits of various kinds; contemporary risk management and assurance methodologies; and professional skills to assist in the growth of both the individual and the profession.
Click here for the registration brochure and registration form.
IIA Global Award Nominations
IIA Global are seeking your help in identifying qualified candidates to be considered for the highest awards given by The Institute of Internal Auditors (IIA).
All three awards recognise individuals who have made outstanding achievements in the field of internal auditing:
- Bradford Cadmus Memorial Award: For contributions to the global profession of internal auditing
- Victor Z. Brink Award for Distinguished Service: For contributions to the profession through global service to The IIA
- William G. Bishop III, CIA Lifetime Achievement Award: For impact on the global profession through a lifetime of accomplishments and dedication to The IIA
Recipients of these awards will receive complimentary registration and travel arrangements for The IIA's 2020 International Conference in Miami, Florida, USA, in July and special recognition during the conference.
Learn more about the qualification requirements and download the nomination form today.
All nomination forms must be completed in English and returned electronically no later than 14 February 2020.
If you have further questions, please contact Governance at governance@theiia.org
