Internal Auditor Reblog: The Conditions in Which You Think

The unwitting participants in the study were eight parole judges in Israel. They spend entire days reviewing applications for parole. The cases are presented in random order, and the judges spend little time on each one, an average of 6 minutes. (The default decision is denial of parole; only 35% of requests are approved. The exact time of each decision is recorded, and the times of the judges’ three food breaks — morning break, lunch, and afternoon break — during the day are recorded as well.) The authors of the study plotted the proportion of approved requests against the time since the last food break. The proportion spikes after each meal, when about 65% of requests are granted. During the two hours or so until the judges’ next feeding, the approval rate drops steadily, to about zero just before the meal. As you might expect, this is an unwelcome result and the authors carefully checked many alternative explanations. The best possible account of the data provides bad news: tired and hungry judges tend to fall back on the easier default position of denying requests for parole. Both fatigue and hunger probably play a role.

Mike Jacka writing for Internal Auditor explores the effect that our working conditions and environment have on our thinking, and the different roles that fast and slow thinking play in our work. He asks that the reader be aware of how the conditions in which they are thinking can affect (often unintentionally) the decisions they make.

As auditors (and as humans), honing a degree of self-awareness about how we are affected by the weather (or the bad traffic, or the argument we had last week with a family member, or the timing of lunch- whatever it may be) will help us look critically at our own thoughts. Are we actually making sound decisions? Or are we making rash and unfair decisions? What effect might this have on our work? And just as importantly, how can we counterbalance our fast thinking with slow thinking to make better decisions?

Read more here.

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Association of Local Government Auditors ReBlog: Auditing in the dark corners

A police officer sees a drunken man closely searching the ground near a lamppost and asks if he can help. The man replies that he is looking for his keys. After a few minutes of looking the officer asks whether the man is certain he dropped his keys near the lamppost. “No,” he says, “I lost the keys somewhere across the street.” “Then why are we looking here?” asks the officer. “The light is much better,” the man responds.

That’s a very old joke, and it’s also a parable for auditors.

Do you audit where the light is better? Where you know the data is reliable? Where procedures are established? Where clear criteria exist? Where you’ve audited before? Do you choose your audit topics sitting at your desk without exploring around the agency?

Gary Blackmer (who needs no introduction in the auditing community. But, for those not ‘in the know,’ he has a long and storied career in public auditing in Oregon and most recently served as the Director of the Secretary of State Oregon Audits Division.) speaks to the need for auditors to peer into the darkest, most frustrating corners to identify the most serious problems that agencies and the communities they serve face. He encourages fellow auditors not to be lured and lulled by the prospect of a quick and easy audit. The smoothest path may not yield the biggest reward. After all, it’s been traveled many times before.

There is no doubt that groping around in the dark is difficult and unpleasant, but it often produces the biggest audit impacts. Conducting surprise inspections of adult care homes was emotionally difficult, but resulted in several negligent homes getting shut down. Tabulating deployment of 500 patrol officers for four months was pure drudgery, but it pointed out the mismatch with workload. It required patience and perseverance to interview a dozen agencies to learn why they were accomplishing more, but showed a pathway to success for the collections agency.

Read more here, and learn a bit about ALGA here!

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GAO Reblog: Key trends with a major impact on our nation and its government

On September 13th, GAO shared their five-year strategic plan, which addresses 8 trends identified as having potentially negative effects on our society and government.

Read more here, or watch the video below to learn more.

 

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TEDx Reblog: The 5 types of mentors you need in your life

Everyone can use a mentor. Scratch that — as it turns out, we could all use five mentors. “The best mentors can help us define and express our inner calling,” says Anthony Tjan, CEO of Boston venture capital firm Cue Ball Group and author of Good People. “But rarely can one person give you everything you need to grow.”

At the Oregon Audits Division, we give all our staff, both new and well-worn, the opportunity to participate in mentoring relationships with others in the division. These relationships allow the person being mentored to grow by tapping into the wisdom and experience of others, and gives the mentor a chance to help develop the proficiency of those around them- and by extension, the whole office.

Mentoring relationships can be formal or informal, and as Julia Fawal writing for TEDx explains, can cover a broad array of development, learning, and support needs for all those who take part. When it comes to mentoring, more is more.

Read more here, or watch the video below.

 

 

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TED talks RePost: Why the secret to success is setting the right goals

In 2008, a Googler, Sundar Pichai, took on an objective which was to build the next generation client platform for the future of web applications — in other words, build the best browser. He was very thoughtful about how he chose his key results. How do you measure the best browser? It could be ad clicks or engagement. No. He said: numbers of users, because users are going to decide if Chrome is a great browser or not. So he had this one three-year-long objective: build the best browser. And then every year he stuck to the same key results, numbers of users, but he upped the ante. In the first year, his goal was 20 million users and he missed it. He got less than 10. Second year, he raised the bar to 50 million. He got to 37 million users. Somewhat better. In the third year, he upped the ante once more to a hundred million. He launched an aggressive marketing campaign, broader distribution, improved the technology, and kaboom! He got 111 million users.

Here’s why I like this story, not so much for the happy ending, but it shows someone carefully choosing the right objective and then sticking to it year after year after year. It’s a perfect story for a nerd like me.

Watch John Doerr break down the whats, the whys, and the hows of effective goal setting, and how it can be applied to both individual and organizational goals.

Like this TED talk? Watch more here!

 

 

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Audit Scotland ReBlog: The journey to become a Chartered Accountant (with Bonus sing-along opportunity)

My name is Graham Foster and I’m one of the in-house lecturing team with ICAS. Much of my early career involved auditing Scotland’s public services, giving me some early insights into the work of Audit Scotland. After moving into accountancy training, I’ve worked with many Audit Scotland trainees.

I joined the ICAS team in 2016 and deliver training across all three levels of the CA qualification. Let’s look at each of three levels in turn…

Read more about Graham’s journey here.

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Oregon Office of Economic Analysis ReBlog: Oregon Economic and Revenue Forecast, June 2018

The U.S. economy continues to perform well. Economic growth remains above potential and job gains are strong enough to pull down the unemployment rate even as more individuals are looking for a job. The business cycle is not yet waning and the near-term prospects for economic growth are good. The consensus of forecasters peg the probability of recession over the next year at just 15 percent.

However, longer-run forecasts remain relatively muted, in part due to the impact of an aging population and the temporary provisions in the federal fiscal stimulus. From today’s relatively strong cyclical vantage point, three real downside risks stand out. First is the Federal Reserve’s ability to engineer a soft landing. Second is the potential for deteriorating international relations and trade. Third is the recent run-up in energy prices which crimp household budgets in the near-term. To date, actual constraints on growth appear to be minimal, but bear watching in a mature expansion.

Josh Lehner breaks down Oregon’s economic forecast over the next two years. Read more here.

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