http://www.directorship.com/audit-guide/ Boardroom Intelligence Tue, 07 Feb 2012 09:48:26 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.directorship.com/audit-guide/comment-page-1/#comment-3471 Michael Brozzetti, CIA Thu, 11 Mar 2010 19:35:34 +0000 http://www.directorship.com/?p=14531#comment-3471 Nice summary of points Walter. With respects to #1 regarding the strengthening of governance surrounding an entity’s strategic plan, I agree that this is the most critical; however this is often easier said than done and requires full Board and Management support for the Internal Auditor to effectively carry-out this type of audit work and summary reporting. We all have the obligation to ensure the entity carries out its mission, the Board, the Management, and the Internal Auditors. Together, we serve as the “check and balance” system that deters and prevents self-serving interest from superseding that of the Entity in which we serve. The Board and Management must be receptive and willing to engage in the open, candid, and constructive dialogues with the Internal Auditor regarding their views on the effectiveness of the existing governance structures and processes. We must prepare for these candid dialogues by accepting the fact that we must discuss the two topics we are often discouraged to bring to the table – organizational “religion” and “politics.” In the end, these types of periodic candid and constructive dialogues are what will make the difference between those Entities that thrive, die, or barely stay alive. Nice summary of points Walter. With respects to #1 regarding the strengthening of governance surrounding an entity’s strategic plan, I agree that this is the most critical; however this is often easier said than done and requires full Board and Management support for the Internal Auditor to effectively carry-out this type of audit work and summary reporting. We all have the obligation to ensure the entity carries out its mission, the Board, the Management, and the Internal Auditors. Together, we serve as the “check and balance” system that deters and prevents self-serving interest from superseding that of the Entity in which we serve. The Board and Management must be receptive and willing to engage in the open, candid, and constructive dialogues with the Internal Auditor regarding their views on the effectiveness of the existing governance structures and processes. We must prepare for these candid dialogues by accepting the fact that we must discuss the two topics we are often discouraged to bring to the table – organizational “religion” and “politics.” In the end, these types of periodic candid and constructive dialogues are what will make the difference between those Entities that thrive, die, or barely stay alive.

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