The Assurance Show

Embracing Internal Audit Evolution: A Conversation with Michael Drechnowicz, Head of Internal Audit at TK Elevator In 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.

Guest: Hassan Jan, Senior Audit Manager at Fidelity Canada. Hassan takes us through his journey as a CPA (Chartered Professional Accountant) who gradually developed a keen interest in data analytics while working in internal audit departments. He shares how he currently uses data analytics and other forms of machine learning to enhance Fidelity Canada's capabilities and practices. The conversation soon goes into the weeds of internal auditing, as Hassan discusses the use cases for internal audit data analytics. From board reporting to continuous monitoring in different organizations, Hassan presents a broad view of the audit landscape through the lens of data analytics. We then discuss the potential of large language models (LLMs) and how Hassan aims to implement them into their auditing workflow. From writing audit reports to creating risk and control matrices, Hassan is excited at the possibilities that artificial intelligence brings to the audit table. We delve into challenges, both present and future, faced in the auditing profession - a key one being data literacy among auditors. As technology makes strides and organizations bank more on data, Hassan talks about the need for auditors to get comfortable with understanding, manipulating, and analyzing data - a trait he calls 'data literacy.' Hassan also shares his hopes for automation in auditing where technology can pull the exact data required for audit tests. As for emerging auditors, he emphasizes honing prompt engineering skills, or learning how to ask AI the right questions, and creativity, for devising novel audit practices. Though AI presents us with an exciting future, the discussion does touch upon realistic obstacles such as maintaining a team skilled in both audit domain knowledge and data analytics. Hassan observes an increasing interest in data analytics among junior roles, giving hope to the future. Hassan also shares some hands-on experiences in visualizing data to detect patterns and trends, underlining how this aids in assessing program effectiveness. The conversation wraps up with Hassan's view on the strategic role of AI in centralizing data warehouses and enhancing operational efficiency. You can delve deeper into Hassan's thoughts and experiences by tuning into this episode. For any queries or further discussions, Hassan invites listeners to connect with him over LinkedIn.

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: trustLinks ORCAAWeapons of Math Destruction page 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 Funkhouser & Associates

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: Links: Office of the Washington State AuditorNational State Audit Association Conference 2022

A quick episode to provide an update about this show. In short, lower frequency (ad-hoc), with regular episodes of the new podcast - The Performance Audit Report - planned.

Maarit Widmann is a data scientist at KNIME. In this episode, we discuss: Links: KNIME This episode's web pagethe-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 AmazonThe Data-Confident Internal AuditorThis episode's web pageepisode on Author Hour 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: Link: 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. Link: 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).