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James Paterson's blog

A selection of blog posts by James Paterson.

IAS Conference 2018 – Internal Audit: Embracing the challenges of the future

I am looking forward to chairing the IAS Conference 2018 – Internal Audit: Embracing the challenges of the future taking place in November 2018.

The Internal Audit Service will hold its annual international conference on 6 November 2018. The Conference will focus on the global challenges affecting the Internal Audit (IA) profession and will be opened by the First Vice-President of the European Commission, Mr Frans Timmermans. In addition, Mr Richard Chambers, President and CEO of IIA Global will be a keynote speaker.

Full details about the conference can be found here, including registration options. The conference will also be live streamed.

When: 
Tuesday 6 November 2018, 8.00 – 18.00 (CET)
Where:
Alcide De Gasperi Room, Charlemagne Building
170, Rue de la Loi
1000 Brussels

Belgium

 

Chairing the EU Audit conference on Creativity & Innovation in Internal Auditing

I was very pleased to be involved with a team from the European Union Internal Audit Service to chair their 1 day workshop on Creativity & Innovation in Internal Auditing in October 2017.

James Paterson

The agenda was packed with interesting topics and great speakers. The main themes were:

  • The history of Accounting and Auditing – with insights into what might happen in the future
  • The impact of technology on business and internal audit – we covered; A, B, C, D: AI, BlockChain, Cyber and Data but surprisingly it emphasised the importance of not thinking technology should be even the main focus
  • Auditing Culture and Auditing behaviour – emphasising the importance of looking at these areas
  • Lean auditing and agile ways of working (which I also participated in) – highlighting that Value and Productivity needed to be an essential area of focus for Internal Audit teams going forward.

Slides are available through the following link:

https://ec.europa.eu/info/events/internal-audit-service-conference-2017-2017-oct-05_en

The conference web stream is available through this link:
https://webcast.ec.europa.eu/internal-audit-service-conference-2017

Hope some of this material is of interest.

Root Cause Analysis for Internal Auditors

I ran another Root Cause Analysis (RCA) workshop this week in London, with participants from the Financial services sector, Oil and Gas and Public sector. All those attending agreed that proper RCA was important to get to the heart of issues and to enable Internal Audit to provide insights, but none had done any formal training of any length on the topic and most had no explicit, consistent, RCA methodology defined.

We explored the root causes of how such an important topic could be relatively neglected, which includes its absence from current IIA standards, and came up with themes that I have heard on many other workshops, ranging from: “As auditors we have a natural instinct about root causes” to “There is limited time during assignments to do a proper RCA” to “Robust RCA would highlight quite sensitive matters and put us into conflict with management”. Continue Reading

IIA UK Leaders Conference – Discussion On Independence

Chaired a very interesting panel discussion on internal audit independence for the IIA UK Leaders Conference in London in March 2017.

I have written up the key points in an article that includes some great advice, but also looks at the real world challenges and dilemmas that internal auditors face to balance “value add” and being a “trusted advisor” with independence. It also includes the results from two polls outlining the views of the audience of heads of internal audit on the extent of these pressures. The article concludes with some specific ways heads of audit might test their independence, but builds most welcomed to me on jcp@RiskAI.co.uk.

Download: Internal Audit Independence – in the real world

The Routledge Companion to Lean Management

The Routledge Companion to Lean Management is about to be published and contains an new article on ‘Lean Auditing’ by James Paterson.

‘I feel proud to have been included in this book with so many notable lean experts’.
James Paterson

The book is edited edited by Torbjorn H. Netland and Daryl J. Powell. They have produced a nice video to explain Lean, and the contents of the book, in simple terms: Continue Reading

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