Jules Muis Topic 2020 Revisited. 2020, INTERNAL AUDITORS: Getting there by default...or by design? Or both?. “We will witness the systemic consequences of working with empty tool kits on matters which are of global monetary significance....
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Topic 2020 Revisited
“We will witness the systemic consequences of working with empty tool kits on
matters which are of global monetary significance....
.....So, what we probably need is another major crisis to force the next step up.
A financial derivative crisis is for me one of the main candidates...”
Jules Muis, May 14, 2004
Speech at the “ Internal Auditing in the Public Sector Conference” organized by Dutch Ministry of Finance
toolkits, core competencies annex core specializations
financial system, in run up to and during the crisis.
practice, none of which worked effectively, all of which having introduced new
risk management actors - for better and worse - in part complementary to, in
part competing with the internal audit function
expressing comfort for controls as a whole, either for scope/budgetary
purposes and/or for reasons of lack of adequate skill base to cover all essential
external regulatory pressure (crisis driven)
the quality of regulation and enforcement which governs the corporate/
institutional level, as well as on the systemic front, macro.
internal (Board, Audit Committee) stakeholders and the external stakeholders
as well as the dynamics among the other transparency, diagnostic, prudential
actors of one’s own organization.
opinion on controls as a whole, or through a well explained disclaimer.
particular for the too big to fail organizations
prudential line of/in corporate defense! - in particular in the financial sector
version did not properly do its bit)
accountable operating environment, present company not excluded!
vis the tax payer, implied or specific, operating in a hybrid public/business