February 2017

U.S. President Donald Trump has taken the world by storm. From tough talk and bold action on immigration and trade to media skirmishes and promises to dismantle the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Trump administration has served notice it plans to shake things up.

Trump’s promises to drastically roll back regulations, renegotiate trade deals, and more are creating unease about their implications for internal auditors. But before we can pass judgment on whether the Trump era will be good or bad for internal auditing, we should take a step back and assess a number of factors.

First, we cannot yet predict the level of deregulation that the administration will achieve, how quickly it will happen, or its impact on the audit plan.…

I have been thinking of late about a common expression in America that comes from the classic television show, “Dragnet.” The protagonist of the gritty police series, Sgt. Joe Friday, is forever linked to the expression, “Just the facts, ma’am.”

Nowadays, it seems getting just the facts is easier said than done. The debate emanating from Washington, D.C., about “alternative facts” and “fake news” has served as fodder for the media, political pundits, and late-night talk show hosts. But it should be particularly troubling to anyone who works in internal auditing. One of the fundamentals of our profession is communicating the results of our audits in a clear, concise, and objective manner, and there should never be disagreements over our final reports when it comes to the facts.…

It seems that everywhere we look in the world, trust is in short supply. Investors struggle to maintain trust in capital markets, citizens find it difficult to trust elected leaders, the political left doesn’t trust the political right and vice versa, and mistrust between traditional nation-state adversaries seems to be making an unwelcome comeback.

But trust, defined as “the firm belief in the reliability​​​​, truth, ability,​ or strength of someone or something,” is what gets both business and governments through the most challenging times.

This may appear off base at a time when partisan politics and a rift in the American psyche have created uncertainty and tension.…

Last month’s announcement that Ringling Bros. and Barnum & Bailey Circus would cease operations after more than 146 years generated significant reaction across the United States.

For those who had relentlessly protested the use of live animals by the circus, the announcement was met with celebration.

For millions of others, the announcement was met with sadness and nostalgia. They felt that yet another iconic American institution was going away, and that they would never have the opportunity to pass along the magical experience of attending the circus to their children and grandchildren.

While I empathized with the range of emotions being shared, I also couldn’t help but smile.…