Branding and Promoting Internal Audit

1. Branding and Promoting Internal Audit Salem Chapter of the IIA Salem, Oregon November 3, 2010

2. Some Questions to Ponder • Are their any residual myths in your organization about Internal Audit? • Are new employees, including temporary, given orientation about governance, risk management, compliance (GRC) and its relevance to their roles? • Does internal audit tell its story at new employee orientation? • At all-hands meetings? • At initial meetings of all engagements? • Is the Internal Audit “brand” comparable to Dollar Stores or Nordstrom , General Motors or Ford, Susan Boyle or Lady Gaga?

3. Top Ten Brands • COCA-COLA • MICROSOFT • IBM • GE • INTEL • NOKIA • DISNEY • McDONALD'S • TOYOTA • MARLBORO

4. Hallmarks of Branding • Consistency of product and service delivery • Services and deliverables have a signature “look” • Continuous commitment to quality and excellence • Effective communications/marketing plan

5. Consistency of Product and Delivery • Disciplined Internal Audit processes • Risk-assessment • Audit planning • Risk-based engagements • Reporting • Follow-up • Repeatable, definable processes with owners, objectives, metrics

6. Services and Deliverables have a Signature “Look” • Reports have differentiated formats • Assurance engagements • Consulting engagements • Investigations • Formats are defined, stable, and evaluated

7. Continuous Commitment to Quality and Excellence • Professional certifications • On-going training • Robust Quality Assurance process • Cogent reports • Concise, balanced tone, readable, risk focused, timely

8. Effective Communications / Marketing Plan • Ownership clear • Clients’ and stakeholders’ needs assessed • Appropriate media • Web page • PowerPoint decks for all occasions • Face-to-face meetings

9. Some Marketing Approaches • Executive call program for senior staff • New employee orientations • Management and executive development training • Staff profiles on web or in brochure • Description of services on web or in brochure • News on entity portal

10. Marketing Approaches • Web page with push communications • eNewsletter • Lunch and learn for non-audit staff • Debrief management after audit committee meetings • Presentation decks for all occasions • Attend affinity–group meetings

11. Branding and Promoting Internal Audit • Requires an Internal Audit strategy with an compelling vision, internalized values, and engaging mission • Coupled with a marketing and communications plan • That tells a story of transformation • That acknowledges and debunks the myths

12. The Pay-Off • Internal Audit will be positioned for greater influence in the organization • Value to clients and stakeholders will increase when Internal Audit becomes a change agent within the entity • Internal Audit will become a core competency rather than a mandated burden

13. Contact Information Jim Key, Partner Shenandoah Group, L.L.P. PO Box 1323 Beaufort, SC 29901 U.S.A jckey@hargray.com 1.843.812.6647