Governance Unplugged - Internal Audit, Risk & Controls

Ep 20: Modern Risk Management Must Drive Better Decisions feat. Prof. Stefan Hunziker

The conversation delves into the purpose and challenges of modern risk management, the importance of risk management in decision-making, the limitations of traditional risk reporting, the role of quantification, and the integration of risk management with internal audit and compliance. It emphasizes the need for risk management to shape decisions under uncertainty and be integrated into the decision-making process, with a focus on better judgment, resilience, and closer integration with other governance functions. Takeaways * Risk management must shape decisions under uncertainty * Integrated risk management is a part of the decision-making process * The future of risk management involves better judgment, stronger resilience, and closer integration with internal audit, compliance, and leadership decisions Chapters * 00:00 The Purpose of Modern Risk Management * 07:42 The Importance of Risk Management * 13:21 Practical Changes in Risk Management * 18:39 Decision-Relevant Risk Reporting * 24:15 Quantification in Risk Management * 31:29 Integration with Internal Audit and Compliance

Ep 19: AI Augmented Audits - A Roadmap to a Future Ready Internal Audit Function w/ Robert Zergenyi

The conversation explores the transformative impact of AI on the internal audit function, emphasizing its role as a capability shift rather than just a tool. It delves into the practical implications of AI on the audit lifecycle, the importance of understanding different types of AI, the transformation of the internal audit function, and the future role of the internal auditor in an AI-enabled world. Takeaways * AI as a transformative capability * AI's impact on the audit lifecycle Chapters * 00:00 AI as a Transformative Capability * 07:21 Understanding Different Types of AI

Ep 18: How Internal Audit Brings Reality to AI - Boards Need Truth, Not Tech Optimism w/ R. Zergenyi

The conversation explores the impact of AI on organizations, the fiduciary responsibility of boards, AI regulation, building trust in responsible AI, defining decision authority, internal audit's role in AI, and the ideal superpower for AI oversight. Takeaways * AI is a boardroom priority * Strong AI governance requires clarity in practice * Internal Audit plays a critical role in enabling safe and responsible transformation Chapters * 00:00 The Reality of AI in Organizations * 06:55 Board Fiduciary Responsibility and Oversight * 12:16 AI Regulation and Board Perspective * 22:10 Defining Decision Authority and Ownership * 32:23 Superpower for AI Oversight

Ep 17: The Human Side of AI - Change, Trust, and Governance in One Playbook feat. Christian de Loës

Keywords   AI transformation, governance, trust, human-centric, accountability, risk management, organizational culture, change management, executive leadership, digital transformation     Summary   In this episode of Governance Unplugged, host Thomas Michel and guest Christian Deloes discuss the complexities of AI transformation, emphasizing the importance of trust, governance, and human-centric approaches. They explore how organizations can successfully adopt AI by fostering a culture of psychological safety, establishing clear governance frameworks, and ensuring that AI initiatives align with business objectives. The conversation highlights common pitfalls in AI transformation, the role of boards in governance, and the necessity of measuring both value and risk in AI projects.     Takeaways   AI transformation is a continuous shift, not a one-time project. Success in AI is visible when it creates real business value. Good governance enables speed and trust, not bureaucracy. Boards should focus on strategic risks and compliance. Psychological safety is crucial for fostering innovation. Adoption of AI must be measured alongside ROI. Human-centric approaches are essential for successful AI integration. Clear decision rights reduce shadow AI and enhance accountability. Organizations must connect AI initiatives to business objectives. Effective change management is critical for AI transformation.     Titles   Navigating AI Transformation: Governance and Trust The Human Element in AI Adoption      sound bites   "What gets measured gets followed up." "Adoption is the product." "We need to create business agility."     Chapters   00:00 Introduction to Governance Unplugged 06:10 Success Metrics in AI Transformation 14:02 Common Pitfalls in AI Transformation 20:36 Immediate Actions for Boards on AI Governance 26:03 Navigating AI Governance and Liability 30:23 Connecting Strategy to Execution for Business Agility 37:15 The Importance of Data Governance 44:03 Fostering Trust and Capability in AI Adoption 54:25 Upline_Intro Music Podcast.wav

Ep 16: Beyond Bots - How to Grow the Next Generation of Internal Auditors feat. Dijana De Coker

The conversation delves into the changing landscape of governance, the evolution of the modern internal auditor, the impact of AI on audit careers, and the skills of the future internal auditor. It also explores personal well-being, career surprises, practical examples of courage and integrity, preparing junior professionals for dark times, and the future of audit careers. Additionally, it discusses communication and influence in internal audit and the need to reskill audit teams for the future. The conversation explores the evolving skill mix in internal audit, the challenge of attracting top young talents, the use of role play and playbooks, AI as a talent enabler, lessons from audit background, preserving human core in the age of technology, culture and talent retention in internal audit, and cultivating future audit talent. Key takeaways include the rebranding of internal audit, the use of role play and playbooks, AI as a development tool, leadership lessons, preserving human core, attractiveness as an employer, and psychological safety and trust. Takeaways * The evolving role of internal auditors in the face of AI automation * The importance of courage, integrity, and practical skills in the future of audit careers Rebranding internal audit * Accelerated development programs * Role play and playbooks * AI as a development tool * Upskilling and reskilling * Understanding motivation * Leadership lessons * Preserving human core * Attractiveness as an employer * Continuous learning and exposure * Positioning internal audit as a talent pool * Psychological safety and trust Chapters * 00:00 The Changing Landscape of Governance * 07:22 The Evolution of the Modern Internal Auditor * 14:27 The Impact of AI on Audit Careers * 22:35 The Future of Audit Careers * 28:38 Skills of the Future Internal Auditor * 35:29 Communication and Influence in Internal Audit * 42:37 Attracting Top Young Talents to Internal Audit * 54:28 Role Play and Playbooks for Internal Audit * 01:02:24 Lessons from Audit Background * 01:11:14 Culture and Talent Retention in Internal Audit