Why your car cockpit doesn’t have a heat map

When I was recently making my way through Istanbul to meet my wife for dinner, I was using Google Maps to take me on the fastest route through the evening rush hour. My wife was waiting at a gallery opening in Nişantaşı in the European part of the city and I was coming from Sancaktepe […]

Naturally biased – Why internal auditors cannot adhere to their own Code of Ethics

Independence and Objectivity The hallmarks of the Internal Audit profession are Independence and Objectivity. Without independence and objectivity there can be no truly effective auditing, because conclusions snd expressed opinions could be unfairly biased. “Independence is the freedom from conditions that threaten the ability of the internal audit activity to carry out internal audit responsibilities […]

The Carryover Effect of Reputation Risk

Trust and reputation are assets. Corporate leaders are realizing that it is no longer sufficient to be just compliant with rules and regulations, and with the letter of the law as it is written today; instead organizations have to aspire much higher and constantly try to meet and exceed stakeholders’ and society’s expectations. Otherwise, trust […]

The limits of our language…

If you are a parent, you may be familiar with the fact that there’s a big difference between telling your kid who is climbing dangerously on a high tree: “This is very dangerous! Careful, or you will fall down and break a leg”, and saying: “Wow, you are very high up, but if you are careful and watch where you are putting your hands and feet, I trust that you are going to do great. I am here watching you and can guide you. But I know you can do it on your own.”

Integrated Assurance – Assured Integrity?

I recently attended a webinar with the promising title: “Improved Risk Management through Coordinated Assurance”. Some of the content resonated with my own thoughts and the discussions I have led with other internal audit and risk management practitioners in the course of the last ten years under different titles: convergence, combined assurance, aligned assurance. However, […]

It’s Risk Management, Stupid!

When I first started my career, I was an internal auditor and the year was 2005. It was what I would call the “age of internal controls”. The Sarbanes-Oxley Act of 2002 (SOX) was just a few years old and the German multinationals subject to it had yet to comply with section 404 in their […]