Author Archives for Jim DeLoach

Sooner or Later, Your Fundamentals Will Change

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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

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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

Effectively Briefing the Board on IT Risks

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Innovative technology can be a differentiator as well as a disruptor in today’s marketplace. Technological advancements are rapidly compressing the half-life of business models and industries that historically have not been viewed as dependent on technology are now being transformed by it and their business models can no longer function without these latest advancements. Consider Uber. The ability to book, track, and pay for a cab from a mobile device significantly differentiated this business from traditional taxi services. The bottom line is that technology is no longer a mere enabler. At Protiviti, we often receive feedback from directors stating they... Read More