Blog and Resources
Blog and Resources
The New AI Productivity Rule: Aim for 20% (Not 80%) Goals
If you’re drowning in AI confusion, you’re not alone. Yes, AI is transforming—and sometimes eliminating—routine tasks like data entry and basic processing. (Those jobs are toast.) But here's what the hype machine misses: The revolution for professionals and knowledge...
Interview with Sylvia Groves: Canada’s Expert on Minutes
In the world of corporate governance, few topics are as universally relevant yet misunderstood as meeting minutes. I recently had the privilege of sitting down with Sylvia Groves for a fascinating discussion about this critical aspect of board operations. Sylvia is widely regarded as Canada’s foremost authority on minute best practices, having advised boards across industries and organization sizes throughout her distinguished career. Her book, AAA+ Minutes, has become an essential resource in a field where quality guidance has been noticeably lacking. For governance professionals, CPAs, auditors, and internal control specialists, Sylvia’s practical wisdom fills a significant gap in the professional literature.
AI Innovation Also Needs AI Governance–How to Roll Out the Right Policies at the Right Time
As I observe my clients navigating the intense push for AI innovation, I’m seeing its impact on virtually every area of my core business in audit and risk management. From documentation to governance, internal controls, internal audit, and even board-level decision...
Bird’s Eye Diagram to Boost Your Design Work
The bird’s eye diagram is a diagramming technique we use with our clients to see the big picture without getting lost in a vortex (or rabbit hole) of details. You can use this technique on projects like internal controls, audits, SOX, CSOX, ICFR programs or process design or system implementations too. A bird’s eye diagram gives your process owners, auditors, and leaders a clear, aerial view of your processes. It’s a supercharged version of the more familiar swim lane diagram which is about visually representing a process, workflow, or system using parallel lanes. We’ve been using, testing, and improving our bird’s eye method with clients for over a decade.
Yes, AI Is Impacting Internal Controls and Audit
Given the number of questions Risk Oversight receives about AI and steps companies should be taking, we wanted to share our thoughts on how generative AI is impacting our work and what we need to be doing right now as professionals, leaders, and organizations. But over the past 6 months–prodded by conversations, conferences, and colleagues–we’ve taken a more proactive approach. We began testing specific business cases and applications of AI in our own business, in our client work, and with some initial advising. Our preliminary conclusion: We’re convinced that generative AI represents a substantial shift in how we operate and the internal control, internal audit, and GRC (or governance, risk, and compliance) landscapes.
AI-Powered Note-Taking: A Powerful Tool, Not a Panacea
As we look at adopting AI tools over the next year, one topic that is especially topical for professionals and knowledge workers alike — especially internal control, internal audit, risk management, and governance professionals – is the topic of using AI for note-taking. Like so many other AI applications, AI note-taking apps open a world of possibilities but bear risks at the same time too. As we jump into making AI note-taking tools a bigger part of our day-to-day work, it’s important that we as professionals and leaders understand and assess the advantages and disadvantages of the tools versus our traditional approaches to use the tools effectively and get the best of both worlds.
Exclusive Interview: Dr. David J. O’Regan, Auditor General, World Health Organization (Americas Region)
Risk Oversight sits down with David J. O’Regan to discuss his latest book, The Closing of the Auditor’s Mind?, and the challenges facing the Internal Audit profession today Dr. David J. O’Regan is the Auditor General of the World Health Organization (Americas Region)...
New IIA Global Standards: Brave New World or “Old Wine in New Bottles”?
3 Questions to Consider Before Implementing the New Standards In January 2024, the Global Internal Audit Standards (the IIA’s Standards) were updated after a long consultation process. While the updated standards are not expected to have a dramatic impact on IA...
Assessing Board Minutes: A Risk Oversight Tool for Internal Control and Internal Audit Professionals
This template provides an easy guide for assessing your Board and Committee minutes aligned with best practices. It’s a useful template for internal control, internal audit, finance, or governance professionals. While it’s not meant to be a comprehensive guide of everything required for Board oversight, meeting, and minutes practices, it is a great resource for assessing Board and Committee minutes through the filter of an internal audit professional.
Are You Managing the Risks of Disclosure? – Revisiting Your Controls in the Age of ESG, DEI, and Social Media
Do people in your organization worry about saying too much, too little, or the wrong thing? I can guess the answer is yes. The risks of disclosure (and nondisclosure) are intensifying with the rise of new regulations regarding what we say and how and when we say it....