intro to blog

James Paterson's blog

A selection of blog posts by James Paterson.

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

Root Cause Analysis (RCA) –
A refresher

Over the past 15 years working in the internal audit arena I have seen a growing interest in the topic of Root Cause Analysis (RCA). My involvement in the topic has evolved from using it as part and parcel of a “lean auditing” approach, to running RCA workshops and consulting advice across Europe. I was also responsible for helping the IIA UK to up-grade its guidance on Root Cause Analysis (published in 2015). Over the past 12 months I have delivered open and in-house courses in the UK, France, Norway, Switzerland and even Mauritius!

This post provides a refresher on this important topic with some key pointers to help you benchmark your current approach. Continue Reading

Join our mailing list

We will keep you updated with news and events.

Contact

Contact and appointments:

Risk & Assurance Insights
T: +44 (0)7802 868914
Email

Please also use our contact form