Summary of The Speed of Risk

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Rating

8

Qualities

  • Comprehensive
  • Concrete Examples
  • Insider's Take

Recommendation

Richard F. Chambers – a highly experienced audit professional bearing the gold standard of industry designations – takes readers on an expansive tour of internal auditing. In the process he explores risk assessment and management, executive and auditor dialogue, institutional culture, and strategic engagement. He makes a solid argument that internal auditing needs to address organizational dynamics at the pace of change rather than on pre-arranged schedules. Auditors, business owners and corporate administrators will find extraordinary knowledge and expertise in this valuable guide.

About the Author

Richard F. Chambers is president and CEO of the Institute of Internal Auditors.

 

Summary

Internal auditors supervise and inspect the activities of an organization.

Internal auditing  may not be the stuff of cocktail party chatter, but it remains one of the most important institutional endeavors that organizations must undertake. In the international marketplace, leaders must adapt quickly to ever-changing financial, cultural, political and social dynamics. These large-scale forces encompass risk factors, which move with a velocity that can expose an organization to massive disruption and significant peril. To that end, an internal auditing team can’t afford to sit idly by and reconstruct the pieces after a fallout. Instead, an audit squad needs measures designed to spot problems and correct them in real time.

Internal auditing provides a check and balance on organizational activities. A chief audit executive (CAE) can assemble a brilliant internal audit team through the selection of individuals possessing nine critical characteristics: ethical strength, a commitment to quality, a desire to learn, an ability to question, an engagement with specialists, communication efficacy, dynamic leadership...


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