From the previous post on Internal Audit landscape of 2018 & beyond, we infer that the only way to survive in the given Business scenario is to Change and to Innovate. Industry Leaders are anticipating major changes in Internal Audit Processes with the key features of Analytics and Automation Technologies. The enhanced Audit function is not just about rolling out these Emerging Technologies, but it is more about implementing different Information architectures and Skills. Boards and Organizations want Internal Audits that are insightful, innovative and create value on a Departmental or Organizational level.
In this blog series we discuss how Internal Audit Leadership skills can be derived from the non-technical fields of Music, Martial Arts & Entrepreneurship. This post particularly focuses on the key elements of Creativity, Innovation & Harmony derived from Music which render Efficiency to Internal Audit Processes.
Albert Einstein stated that “The great scientists are artists as well”. When we talk of Internal Audit, for the profession to remain Competitive, Continuous Innovation & Creativity are essential. As Creating Music is all about translating Musical Notes to Rhythm & Melody, Innovation in Internal Audit is about translating Intuitive Insights into Strategy and Execution. The role of an Auditor requires having
- efficient Communication skills for understanding and communicating Process goals, time lines and opportunities &
- ability of being Agile to quickly react in creative ways to develop a solution
Both the above Skills resonate with and are derived from the field of Music where the creative abilities of a Musician enable him/her to translate Musical Notes to Rhythm & Melody while constantly staying connected to the audience and the self. In the realm of Internal Audit, Creativity is all about developing methodologies for gaining Effectiveness and Efficiency. For 2018 and beyond, the auditor who understands, monitors and improves Analytical and Cognitive systems and processes will only thrive while those who use conventional methodologies will cease to exist. The functionalities of Real time Reporting & Collaboration that we at Confident Governance have been providing to Businesses worldwide through our Agile GRC Product suite are soon going to become the prerequisites for Internal Audit.
To learn more on this join our Chairman, Bhavesh C. Bhagat at the IIA International Conference 2018 where he discusses the key factors of Technology, Agility & Creativity derived from the non-parallel fields of Music, Martial Arts & Entrepreneurship for Internal Audit Leadership. In the subsequent posts we will be talking about the key ingredients from Martial Arts and Entrepreneurship which can take Internal Audit to a whole new level of Effectiveness. Stay tuned !
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