CAE Briefing E25: 2019-11-17

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As a follow up from last week’s video when I gave the warning about the risk related to independent contractors that work with your organization, this week Uber was fined $649 million by the state of New Jersey. This is a real risk affecting any organization that uses independent contractors.

In this week’s video I discuss this, and one of the biggest things you can do to move from being frustrated and ignored by management, to become valued as a trusted advisor.

If you would like to improve your risk-based internal audit plan for 2020, check out how you can better identify risks coming over the horizon (like impacts from independent contractors) in the Certified Risk-Based Internal Auditor (cRBIA) course: https://ondemand.criskacademy.com/p/certified-risk-based-internal-auditor-crbia/?affcode=105582_jpp6czlf?product_id=1405370&coupon_code=EARLY

Register in November and you and your team can save 60%.

Have a great week 🙂

Transcript

00:00
welcome to another edition of the chief
00:02
audit executive briefing hey last week I
00:06
told you a little bit about some of the
00:08
risks around independent contractors and
00:12
how you know a lot of the governments
00:15
and other people because of some of the
00:17
law changes and things that have
00:19
happened in the business climate that
00:23
that is becoming a bigger and bigger
00:26
risk for organizations now just this
00:29
week
00:30
uber was hit with about a six hundred
00:33
and fifty million dollar fine from the
00:36
state of New Jersey related to the
00:39
independent contractor status of its
00:42
employees so again that there’s just
00:45
another piece of evidence to show you
00:48
that this is in fact a big deal that you
00:52
need to be considering as you’re moving
00:54
forward now I know a lot of you are
00:57
looking at year-end planning to be able
01:00
to develop your audit plan for this next
01:03
year and again sometimes you know it’s
01:05
it’s a little hard because I get a lot
01:08
of people asking me how do I think about
01:11
the risks that are on the horizon
01:14
those things that haven’t happened to us
01:16
yet but probably will well the the risks
01:20
or the impact so we’ve been talking
01:22
about related to independent contractors
01:24
is one of those things and again I know
01:27
a lot of times that information is not
01:29
out there but there is help so if you
01:34
would like more help in actually being
01:37
able to figure out what some of those
01:39
risks are that are coming over the
01:41
horizon like those impacts and exposures
01:45
related to independent contractors then
01:48
check out the certified internal audit
01:51
auditor course that is out there I’ve
01:55
spent a lot of years actually helping
01:57
organizations and chief audit executives
02:00
to identify those risks so they can make
02:03
sure that they are in the audit plan so
02:07
there’s a step-by-step process for how
02:09
you actually go through and do that and
02:11
here’s the other
02:13
nice benefit from them you know we’ve
02:16
talked about some of the challenges that
02:17
all of us are facing about being
02:20
downgraded not being invited to the
02:22
table often you know that that
02:24
management is not viewing internal audit
02:27
as a trusted adviser and he hears that
02:33
here’s here’s the thing okay doing more
02:36
risk based internal audits will actually
02:39
help change that right so that instead
02:42
of not getting invited to the table and
02:44
not getting the resources that you need
02:46
so that you’re feeling you know
02:48
frustrated or you feel like you’re
02:51
unappreciated doing or taking a more
02:54
risk based internal audit approach will
02:57
actually get to having management coming
03:00
to you for help asking you for help and
03:04
you’re focusing on the more valuable
03:07
parts of the organization now what that
03:09
does again as it gives you you know
03:12
better status within the organization
03:14
people see you as a trusted adviser
03:17
someone who is actually there trying to
03:20
help them deal with the most significant
03:22
risks that they’re dealing with and you
03:24
know the great thing it feels wonderful
03:26
right you feel appreciated you feel
03:29
valued you feel like what you’re doing
03:31
and all of the hard work that you’re
03:33
putting in is actually making an impact
03:37
and that is a great feeling so I’ve also
03:41
included down below a link that again if
03:44
you’re interested in trying to make your
03:46
audit plan this next year more risk
03:48
based in its focus click on the link
03:53
below and check out the course it
03:55
actually goes through step by step on
03:57
how to exactly do that now I’m telling
04:01
you about this because right now there
04:04
is a 60% discount on that course but
04:08
it’s only good for the month of November
04:11
so if you want to take advantage of that
04:13
discount and not miss you know missing
04:16
out on that then make sure that you sign
04:19
up before the end of November so with
04:23
that have a great rest of your week
04:24
everybody I’m
04:26
I’m here in the background cheering for
04:28
you as you go through this year-end
04:30
process and if you’ve got any questions
04:32
just email me and let me know we can set
04:35
up a time to talk have a great week

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