Weekly Wrap – 14th August 2013

Video Highlights:

0.13 – The Governance Smartphone App
1.08 – Current Technology Used Not Allowing for Meaningful Conversations
1.20 – Real Time Access.  Always.  Anywhere.

Video Transcription

Hi I am Tom McLeod, Managing Consultant of McLeod Governance.

This is what I would be thinking about this week.

One thing I can be certain of is that everyone watching this video at the moment has close to hand their smartphone.

Indeed here is mine sitting here right now.

The reason why I raise that is the central point of today’s post.

I think it is time now that we start giving thought as a community to what I am going to call the Governance Smartphone App.

What is this and why is it necessary?

Well firstly what is it?

I have often thought that the discussions that are best served in the area of governance, risk and internal audit are those that are serendipitous, the hallway conversations rather than those that are planned.

The moment when you bump into the CEO or the CFO in the lift well is the moment when you can best share information.

But up until now the technology that we use has not enabled us to have that conversation in real time and real depth.

So what am I talking about?

The smartphone app that I envisage is that smartphone app in real time can show me the status of whatever the plans may be, be it governance, risk or audit plans.

Secondly it is showing current themes or trends that are coming out of the issues.

And thirdly allows me to send reports instantaneously.

Now we may say that we have got that back at our desktop and that is fine.

But what happens when you are sitting in the airport lounge; what happens when you meet someone in the street; or indeed what happens when someone approaches you directly.

Now the final thing that I want to say is that this is not just an app that would sit on the phone of the governance and audit community.

This should sit on the smartphone of every stakeholder in the organisation – from the Chair of the Audit Committee, indeed the Chair of the Board, down to the most junior person.

And why is that?

Once we have a single point of truth; a single point of understanding then we can go deeper into the real meaning of the information that we are analysing.

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