Norman Marks on Governance, Risk Management, and Audit
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A blog by Norman Marks on governance, risk management, and audit. He shares daily news and opinion on topics that are interesting to governance, risk, audit, and other professionals.
Norman Marks on Governance, Risk Management, and Audit
1d ago
I apologize in advance to all my friends who make a living (at least in part) by helping people write what they believe are “effective” internal audit reports. Every so often, we should challenge everything we do, but today I am focusing on internal audit reports. After all, does the General Counsel write a report ..read more
Norman Marks on Governance, Risk Management, and Audit
4d ago
In celebration of my novel being published and getting several nice reviews, I am pleased to announce that World-Class Internal Audit: Tales from my Journey will be free between May 6th and10th. This is how the novel, Mystery in (garbled), is described on Amazon: In Norman Marks’ second novel, Daniel is kidnapped off the streets ..read more
Norman Marks on Governance, Risk Management, and Audit
6d ago
So says Hal Garyn in his latest article for Internal Audit 3600. I agree. Both Richard Chambers and I have been preaching that we should “audit at the speed of risk”, as well as at the speed of the business, for a long time. In fact, my last internal audit book was Auditing at the ..read more
Norman Marks on Governance, Risk Management, and Audit
1w ago
Everybody seems to be sharing their list of top risks with potentially significant negative effects on the organization. Of course, every organization should determine what are its greatest sources of downside risk to the achievement of its own objectives, given its unique facts and circumstances. Blindly following someone else’s list is a risk in itself ..read more
Norman Marks on Governance, Risk Management, and Audit
1w ago
I am privileged to call Alexei Sidorenko “friend”. I first met him when he invited me to come to Moscow and speak at a risk management conference he organized, He is an experienced and insightful risk practitioner and CRO whose thoughts I listen to and recommend you do the same. Recently he shared his opinion ..read more
Norman Marks on Governance, Risk Management, and Audit
2w ago
One of my tests of a leader, perhaps the most important, is whether people are willing (if not eager) to follow them. Being the titular head with staff reporting to you doesn’t make you a leader. It may make you a boss, but not a leader. History is rife with stories of soldiers who killed ..read more
Norman Marks on Governance, Risk Management, and Audit
3w ago
My congratulations to David Dufek for his recent article for the IIA’s Internal Auditor magazine, Building a Better Auditor: Be Lazier. He makes several excellent points, but misses one: it can take hard work to be what he calls “the good kind of lazy”. He says, and I agree with him: Being the good kind of ..read more
Norman Marks on Governance, Risk Management, and Audit
3w ago
I have been open for years about my preference for the ISO:31000 global risk management standard over the COSO products. (I first explained my position at Alex Dali’s ISO 31000 Conference in Paris in 2011.) Back then, we had the 2009 version, which included a definition of risk and a set of principles. The definition ..read more
Norman Marks on Governance, Risk Management, and Audit
1M ago
I had a lot of fun writing my new novel. Hopefully people will pick it up and enjoy it as well. You can find it on Amazon in both paperback and e-reader form: Mystery in (garbled) As a bonus and because it’s my birthday next week, I have discounted my first novel (e-reader form) to ..read more
Norman Marks on Governance, Risk Management, and Audit
1M ago
It’s shocking, but it’s the truth. Multiple news organizations reported this month that the UK’s Lloyds Banking Group is going to make significant cuts in its risk management function. Background: Lloyds is one of the largest banks in the UK with revenue of £28 billion and next income of just under £5 billion. It has ..read more