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Feb 3, 2016 11:00:00 AM

How to Evaluate the Collaborative Value of Your Audit Committee

Over the course of working with a variety of banks, I have seen numerous approaches to the audit committee role. In the best cases, the audit committee works in collaboration with the internal audit (IA) group, the external auditor and management toward a set of common goals. In others, work groups are compartmentalized and focused on their own work, not sharing information or goals.

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Topics: Audit

Mar 19, 2014 1:02:00 PM

How to Fix Potholes in Banking

I was recently heading home on I-40 from Nashville and couldn’t believe all the potholes. The cold winter in middle and west Tennessee has wreaked havoc on the roads, and I found myself continuously dodging potholes so I could have a smooth, comfortable ride home. 

About 50 miles from my exit, traffic came to a screeching halt. After sitting in what had become a huge parking lot for about 10 minutes, traffic began to move very slowly for the next few miles. I was anxious to get home and was seriously annoyed. 

When I finally got close enough to see what caused the delay, I realized it was a road crew working on the potholes. I immediately thought, Why can’t they do this at night when nobody is on the roads? That’s when it hit me – I didn’t want the potholes on the road, but I selfishly didn’t want them fixed at a time that might inconvenience me.

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Topics: Risk Assessment, Audit