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Norman Marks on Governance, Risk Management, and Internal Audit

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Title: Norman Marks on Governance, Risk Management, and Internal Audit | Copyright Norman Marks, all rights reserved

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Let me start with a real-life story. The CFO of Solectron, Kiran Patel, held an all-Finance meeting in one of our manufacturing plants in Milpitas, California. At the end of the meeting, a lady who had been with the company for many years approached him. She asked whether Kiran found the report she sent him […]

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I’ll start with the COSO definition of risk appetite: The types and amount of risk, on a broad level, an organization is willing to accept in pursuit of value. Focus on the word, “amount”. Most people quantify this in monetary terms. I don’t and let me explain why using real-life examples. When I was with […]

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I think it’s fair to say that almost everybody has too many controls in scope for their SOX program. That’s my experience from leading the SOX Masters training over the last 14 years with hundreds of SOX professionals. (Time flies!) Pretty much everybody left the class knowing they had work to do to trim (sometimes […]

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Last week, an anonymous individual made a comment that I want to discuss as it has implications  for both risk and internal audit professionals. The comment was on my post about the need to focus audits on the controls over the more significant sources of risk to enterprise objectives. They disagreed, saying (sic): Often (sometimes […]

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Navin Pasricha recently posted on LinkedIn that “Only about 5 percent of internal auditors say their work mainly focuses on strategic issues”. He told us: That was the response when I asked 284 internal auditors this question during a session hosted by the Institute of Internal Auditors Singapore last week. The poll asked where internal […]

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