Author Archives for Jim DeLoach

New Study Illustrates the Importance of Looking Long Term When Identifying Emerging Risks

Published by

Time horizon—or a planning horizon—is  the estimated length of time needed to accomplish the goals outlined in a strategic plan, business plan, project plan or program. Assigning a time horizon facilitates accountability for achieving expected goals. In risk assessment exercises, it is important to clarify this variable when engaging with people because their perspectives and respective responsibilities will influence their views on what the time horizon might be. But does the risk assessment process use a time horizon that looks out far enough? Key Considerations  In a risk assessment, there are several time horizon attributes worth considering: The longer the... Read More

Sooner or Later, Your Fundamentals Will Change

Published by

Change is a double-edged sword. It presents an opportunity to take a business to another level. Conversely, it can be a sign of the beginning of the end. Whichever side of the change curve management and the board find themselves, few would disagree that disruptive change itself cannot be taken lightly. The key is embracing its inevitability. One of the classic works of business literature is former Intel CEO Andy Grove’s Only the Paranoid Survive: How to Exploit the Crisis Points That Challenge Every Company, published in 1996. In the book, Grove coined the term “strategic inflection point,” which he... Read More

Making Internal Audit Work For You

Published by

As a profession and a discipline, internal audit has had a longstanding objective of adding value and improving an organization’s operations through a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes. Unfortunately, many internal audit functions fall short of this objective. Key Considerations  Change is the order of the day, and internal audit must keep pace. According to a recent Protiviti survey report, chief audit executives (CAEs) are striving to become more anticipatory, change-oriented and adaptive. Such behaviors are in great demand because internal audit functions must anticipate and respond to a... Read More