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.
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.
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!
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.
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.
It’s easy to get typecast as wearing either a “white hat” or a “black hat” — as hero or enforcement villain. When an internal audit department is associated strongly with the type of investigations that result in terminations or even criminal prosecutions, it can be challenging for anyone in internal audit to be regarded as a true partner.
I don’t mean to imply that internal auditors should avoid participating in tough assignments, including investigations involving potential misconduct. Internal auditors can provide a unique and invaluable contribution. And, for smaller organizations, it may not be feasible to maintain separate internal audit and investigation teams. But one of the difficulties of taking on a “black hat” role is that changing roles may not be as easy as, well, changing your hat.
Richard Chambers discusses one of the challenges of being an internal auditor, and shares a few suggestions on how to balance the demands of the job with maintaining healthy and productive working relationships within an organization. Read more here.
The problems we’re facing often seem as complex as they do intractable. And as Albert Einstein is often quoted as saying, “We cannot solve our problems with the same level of thinking that created them.” So what does it take to increase the complexity of our thinking?
Tony Schwartz, president and CEO of The Energy Project, outlines the steps his team takes to tackle difficult and complex questions. As auditors, we are sometimes tasked with examining gnarly, high-stakes problems that have no apparent and straightforward solutions. This requires that we cultivate the kind of thinking that allows us to approach the problem from more than one angle.
Simple answers make us feel safer, especially in disruptive and tumultuous times. But rather than certainty, modern leaders need to consciously cultivate the capacity to see more — to deepen, widen, and lengthen their perspectives. Deepening depends on our willingness to challenge our blind spots, deeply held assumptions, and fixed beliefs. Widening means taking into account more perspectives — and stakeholders — in order to address any given problem from multiple vantage points. Lengthening requires focusing on not just the immediate consequences of a decision but also its likely impact over time.