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 1. COCA-COLA 2. MICROSOFT 3. IBM 4. GE 5. INTEL 6. NOKIA 7. DISNEY 8. McDONALD'S 9. TOYOTA 10. 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 U.S.A