COVID-19: how to cope as internal audit
IIA Netherlands and IIA Belgium sent out a survey to 200 CAE's in order to see how they cope during this COVID-19 crisis. 2 April the results and tips were discussed during an online CAE meeting hosted by John Bendermacher, CAE at Euroclear Group and former chairman of IIA Netherlands.
How can internal audit add value to crisis management and what impact does the crisis have on internal audit? In the one-hour session, John Bendermacher shared his insights. He also presented the outcome of the survey, followed by a group discussion. The PowerPoint of this CAE meeting with the insights and survey results is available online.
Adding value to crisis management
Should IA be present at crisis meetings? And should we audit crisis management? Being present in the crisis meetings, as an internal auditor you can independently observe the preparations, communications, and tools used for crisis meetings. These observations will also provide you with useful input for auditing crisis management. This independent and objective assessment should be reported to the Board. In that audit, you can focus on the adjustment of the company’s continuity plan and related risk management guidelines at the beginning of the crisis. Maybe you can also add value in reviewing the ‘Extreme but plausible scenarios’ that the company has to list, consider and prepare for, checking the completeness of the list and sufficiency of the impact analysis.
Impact on Internal Audit
These are extraordinary times, which no one had seen coming. No audit plan pointed out this particular risk. However, it is something we all have to cope with. How does this impact internal audit?
A practical impact for Internal Audit itself comes from the ‘home quarantine’ and working remotely. Can audits be done remotely? Therefore we have to make arrangements: connectivity, virtual meetings, access to information, the security of information sharing and of course keeping up morale.
Looking at our audit plan, we have to make an inventory of changes in risks and control environment, and most likely plan for Ad Hoc audits. And assess which audits are still feasible to be performed? Audit plans now need to be flexible. Sometimes it requires to postpone an audit or to do it differently (remotely). And we should be sensitive; for ourselves, our auditees and team members. Take care!
Download the PowerPoint of this CAE meeting with the insights and survey-results
Recommendations from CAE's
During this extended teleworking, I keep staff morale high by...
This is what the CAE's recommended (unfiltered):
- Communication more via direct (video)chat
- Digital coffee corner meeting
- Staying connected
- Video calls 1:1 and team
- Daily team update meeting virtually
- Informeren, ondersteunen en contact houden
- Personal contact and giving perspective
- Focus on the person not the work
- Let's help our merchants
- Check-ins and focus on digitalization
- Frequent meeting and contact with Skype/phone
- Remember we all experience the same situation, unfortunately
- Sensible audits and frequent team meetings
- Daily standups and personal attention
- Daily contact open lines
- Versnellen online samenwerken + contact houden
- Mission Command Principles
- Communication, chat, video, real conversation, understanding
- Daily virtual 'coffee' contact moments
- Regular (video)calls and personal attention
- Having more frequent department calls
- Keep in touch
- Direct contact via skype en telefoon met betrokkenen
- Personal, daily contact; daily challenges,
- Frequent catching up
- More frequent coordination with Skype, Teams
- Regular team up
- Phone calls / Chatting
- Daily 'check in'
- Keeping in touch al the time
- Regular team catch-up meetings
- Everyday contact
- More frequently personally talk to them
- Online coffee meetings with no subject other than 'coffee table talk'/ 'how are things'
- Calls
- Fixed check-ins by video. Provide Crisis Updates.
- Frequent communication
- Being in contact online.
- Human interest and humor
- Daily contact.
- Daily kick-off meetings
- Coffee breaks and no panic/remain calm
- Regular communication and contact
- Regular catch-ups, emphasize the importance of work/life balance, meeting f2f outside (keeping social distance)
- Frequent contact also informal time
- Standups, video conferencing and app contact
- Regular interactions, sharing of pictures, endorsing flexibility of working schedules and emphasizing deliverables over time spent.
- Two team calls per week
- Videodagstart, kaartje, vertrouwen, bewegen stimuleren
- Mandatory 50 squats every hour
- Blijf informeren en houd contact!
- Personal interest
- Empowerment
- Regular meetings and keep finishing things.
- Having more virtual team meetings
- Communication and information
- Virtual connection
- Frequent video conference calls
- Additional whiteboards, randomly calling staff
- Stay realistic, relaxed and humble
- Daily online meetings & humor
- Group- and 1:1 calls, WhatsApp group
- Regular structured contacts minimum twice a week
- Having calls, video meetings and training sessions together
- Daily stand up calls
- Daily check-ins
- Dagstart weekmail successes
- Engagement, challenge to innovate
