The Assurance Show

Embracing Internal Audit Evolution: A Conversation with Michael Drechnowicz, Head of Internal Audit at TK ElevatorIn this episode, Michael shares his insights on the evolution of IA in his role as Head of Internal Audit with a major player in the global elevator and escalator industry. His work demonstrates a shift from traditional finance-focus towards extensive business process coverage, ranging from sales to purchasing and fraud investigations. We discuss the increasing importance of diversity in global audit teams and how technology, particularly Artificial Intelligence (AI) and data analytics, are transforming internal audit processes. The conversation further touches on AI's importance in identifying and managing risks, improving process efficiency, and augmenting the learning experiences of junior auditors. Looking ahead, Michael sees a promising and dynamic future for internal auditors amidst rapid digital transformation.

Maura Hayes-Chaffe is the Deputy Comptroller for Audit in New York City.This episode has snippets from the full episode recorded for The Performance Audit Report.

Our guest is Cathy O'Neil, author of Weapons of Math Destruction: how big data increases inequality and threatens democracy.Cathy joined us to discuss critical aspects for auditors to consider, including:The human element: why understanding 'for whom an algorithm might fail' is more important than the detailed technical design of an algorithm.Algorithm testing: the importance of post-deployment testing to ensure there are no unintended adverse outcomes. Setting standards: the need for industry-wide standards so that regulators can ensure there is no bias or discrimination in how algorithms operate. Laggers and leaders: the four big industries/domains using algorithms that need to step up audit in their space and how law-makers and regulators are catching up.Emerging AI, e.g. language models/chatbots - why trust by users is key, and the pros and cons of using these models.LinksCathy's company, ORCAA Weapons of Math Destruction (book)  This episode's web page: https://www.riskinsights.com.au/podcast/the-assurance-show-64/About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk. Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

Michael Pickup is the Auditor General of British Columbia in Canada.This episode has snippets from the full episode recorded for The Performance Audit Report.

Patrick Barr is Director, Performance Audit at the Northern Ireland Audit Office.This episode has snippets from the full episode recorded for The Performance Audit Report.

Kelsey Thompson is an Assistant City Auditor with the Office of the City Auditor in Austin, Texas.This episode has snippets from the full episode recorded for The Performance Audit Report.In the episode, you will hear Kelsey saying that she is a supervising senior auditor - she was at the time of recording, and was promoted to Assistant City Auditor in the short window between recording this episode and publishing it. Congrats Kelsey.

Mike Scott is Lead Auditor and Manager Assurance and Audit at the New Zealand Department of Internal Affairs. He has over 30 years of audit experience, including 15 years in performance audit with the New Zealand Office of the Auditor-General and 17 years with the UK National Audit Office.This episode has snippets from the full episode recorded for The Performance Audit Report.

This is an episode that aired on The Rundown [Kansas Legislative Division of Post Audit], discussing the report "Evaluating the Kansas Department of Labor’s Response to COVID-19 Unemployment Claims (Part 2)"

Mark Funkhouser is President, Funkhouser & Associates. He is one of the founders of the International Center for Performance Auditing (ICPA) and previously spent 18 years with the Office of the City Auditor of Kansas and 10 years with the Tennessee Division of State Audit. He's been the Mayor of Kansas City, had spells in academia and publishing and has written a book on performance auditing.This episode has snippets from the full episode recorded for The Performance Audit Report.Links:Mark Funkhouser on LinkedIn - https://www.linkedin.com/in/mark-funkhouser/ Funkhouser & Associates - https://mayorfunk.com/ 

Scott Frank is the Director of Performance and IT Audit at the Washington State Auditor’s Office.This episode has snippets from the episode recorded for The Performance Audit Report.The episode was recorded at the 2022 NSAA conference in Atlanta, Georgia.In this episode, we discuss:How performance auditors are using data in their work and future opportunities to use dataA recent performance audit on voting in the State of Washington that had some data challenges to overcomeLinks:https://sao.wa.gov/ - Office of the Washington State Auditor https://www.nasact.org/2022_nsaa - National State Audit Association Conference 2022 

Maarit Widmann is a data scientist at KNIME.In this episode, we discuss:What KNIME isWhy the visual programming paradigm (workflows, rather than code) is appealing to both technical and non-technical professionalsThe most challenging aspects of the data science lifecycle, and what auditors should be aware ofThe most important aspects of the data science lifecycle Links: KNIME (www.knime.com)This episode's web page (riskinsights.com.au/podcast/the-assurance-show-55/)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

In this episode we discuss the use of the word "analysis" in the context of using data for audits.This is an attempt to define the "analysis phase" - or stop using it as the name of a phase - so that we can better structure our work.Link:  This episode's web page (riskinsights.com.au/the-assurance-show-54)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

This episode is a pre-recorded interview with Benji Block for the Author Hour podcast. We discuss our new book, The Data-Confident Internal Auditor.For internal auditors, developing trends in data analysis and data science can feel less like a wealth of information and more like an avalanche. Still, better use of data provides an opportunity to advance your career by adopting new invaluable skills. The missing link: jargon-free guidance that cuts through the hype. The Data-Confident Internal Auditor demystifies the use of data in internal audits through practical step-by-step guidance. With concepts and tools that are easy to understand and apply, this comprehensive guide shows you how to approach data yourself without having to wait on a data scientist or a technical expert.Developed over the course of hundreds of actual audits, these real-world approaches and practices are distilled into a simple sequence of steps that will leave you feeling confident and even eager to apply them for yourself.Links:  The Data-Confident Internal Auditor  on Amazon (https://geni.us/DataConfidentInternal)The Data-Confident Internal Auditor site - with bonus resources (http://data-confident.com/)This episode's web page (riskinsights.com.au/the-assurance-show-53)The original episode on Author Hour (https://authorhour.co/the-data-confident-internal-auditor-yusuf-moolla-conor-mcgarrity/)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

This is the fourth in a series of episodes that focus on performance auditing.In this episode, we discuss five suggestions to help improve the conduct (fieldwork / execution) phase.Link:  This episode's web page (riskinsights.com.au/the-assurance-show-52)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

In this episode we discuss why and how audit quality is improved when we keep things simple.Link:  This episode's web page (riskinsights.com.au/the-assurance-show-51)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

This is the third in a series of episodes that focus on performance auditing.In this episode, we discuss the benefits of adopting a data focused approach during audit planning.Link:  This episode's web page (riskinsights.com.au/the-assurance-show-50)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

This is the second of a series of episodes that focus on performance auditing.In this episode, we discuss the importance of balance in your work program - covering each of the four objectives:EffectivenessEfficiencyEconomyComplianceLink:  This episode's web page (riskinsights.com.au/the-assurance-show-49)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

This is the first of a series of episodes that focus on performance auditing.In this episode, we discuss strategic audit planning (a.k.a. forward work planning).For internal auditors, this is similar to annual (or equivalent) audit planning.Understanding your community / public expectationsUnderstanding your elected body / parliamentariansUnderstanding the entities within your audit office's jurisdictionLink:  This episode's web page (riskinsights.com.au/the-assurance-show-48)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

In this episode we discuss three simple ways to improve the data cleansing process - easier, faster and higher quality.Find the optimal data source (e.g., don't use a poorly structured dataset)Cleanse iteratively - you may not need all of the fields/columnsImport iteratively - start with a subset of the data and build on that as neededLink:  This episode's web page (riskinsights.com.au/the-assurance-show-47)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au). 

In this episode we discuss the use of risk/performance indicators.These can be used by audit teams, risk teams and integrity agencies.For audit teams, they are useful throughout the audit lifecycle - planning / risk assessment, fieldwork / conduct and reporting.We explore why they are useful, what to do and briefly how to get started.This page (riskinsights.com.au/the-assurance-show-46) contains an example of a dashboard that brings risk indicators together. Link:  This episode's web page (riskinsights.com.au/the-assurance-show-46)About this podcast The podcast for performance auditors and internal auditors that focuses on data & risk.Hosted by Conor McGarrity and Yusuf Moolla. Produced by Risk Insights (riskinsights.com.au).