Global Internal Audit Research Study Preliminary Insights Where insights lead

Transcription

1 Global Internal Audit Research Study Preliminary Insights Where insights lead May

2 Agenda 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 2

3 Global Internal Audit Research Study Preliminary insights Terry Hatherell Global Internal Audit Leader Terry Hatherell Global IA Analytics Leader 3

4 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,

5 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: o Training videos available online: Traditional global point of view publication is planned for June release 5

6 Review of Tableau Research Study Key insights Global Internal Audit Research Study Where Insights Lead

7 Global Chief Audit Executive Forum Key insights Sandy Pundmann Managing Partner, U.S Internal Audit 7

8 2016 CAE Forum April 18 & Deloitte University 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 8

9 2016 Chief Audit Executive Forum Agenda highlights 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 9

10 Insights from the Greenhouse facilitated breakout sessions strengthening impact and influence To open the aperture of change, participants brainstormed a number of unchallenged beliefs with respect to internal audit 10

11 Insights from the Greenhouse facilitated breakout sessions strengthening impact and influence (cont d) 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 11

12 Key insights - Challenge statement #1 Wouldn t it be nice if CHALLENGE The IA Function had innovative staffing models in place and became a magnet for talent (e.g. robust rotational program, guest auditor program, etc.) Why is this important? We want the best people Diversity in thinking Value to the business How to? / What might be all the ways? Creative marketing Rotation program Ambassador and alumni programs Flexible co-source model Guaranteed promotion program What s stopping you? Poor brand / perception of the function Poor relationships We don t know what we want Commitment of the business Budget 12

13 Key insights - Challenge statement #2 Wouldn t it be nice if CHALLENGE The IA Function could anticipate risks over the horizon (e.g. predictive analytics, risk sensing, etc.) Why is this important? Gives permission to have a seat at the table Enabler for the business provides guardrails Can t always look in rearview mirror How to? / What might be all the ways? Monitoring disruptive innovation Experimental audit Look at competitors and regulators Risk sensing technologies Culture risk pulse surveys What s stopping you? Lack of a seat at the table ( permission to go there ) Don t know the business / risks So many changes, fast-paced 13

14 Key insights - Challenge statement #3 Wouldn t it be nice if CHALLENGE The IA Function had a strong brand with insightful communication (e.g. visualization, infographics, etc.) Why is this important? Enables brand permission and seat at the table Brand is critical to recruiting top talent Clarity of messaging - communication How to? / What might be all the ways? Define our brand and get buy-in Leverage internal branding, marketing and communication specialists Develop elevator pitch for all to use Share success stories What s stopping you? Budget Skill-set Out of our comfort zone We re not marketers/creative 14

15 Key insights - Challenge statement #4 Wouldn t it be nice if CHALLENGE The IA Function utilized analytics and technology to transform Why is this important? Efficiency Expand coverage Increase impact Get ahead of the curve Attracting talent How to? / What might be all the ways? Define the right future state model Hire the right people Change traditional auditing Pilot to prove and gain credibility Obtain stakeholder buy-in What s stopping you? Takes time to understand the business People / skills / money Waiting for data to be perfect 15

16 2016 Chief Audit Executive Forum Next steps Coming Soon Global Point of View publication How internal audit can make magic 16

17 Next steps Supporting you in the marketplace Terry Hatherell 17

18 Next steps timeline of planned activities Tableau file and supporting data distributed to Member Firms Launch kit distributed to Member Firms Global Research Study point of view publication released May 31 June 30 Analysis and development activities by Global Promotion on Deloitte.net, social media, global press release, IIA Magazine, Compliance Week, etc. 18

19 Next steps How you can take advantage of the study Use the Tableau Research Study in your market! Share the Research Study insights with clients and targets to have impactful discussions 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 Launch kit contents Editable version of POV Editable version of press release Template for internal distribution Template cover letter for external distribution Social media copy (Twitter, LinkedIn, etc.) Global insights video 19

20 Key points of contact Please let us know if you have any questions. 20

21 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 for a more detailed description of DTTL and its member firms.. Member of Deloitte Touche Tohmatsu Limited.