Weekly Wrap – 14th August 2014


Hi I am Tom McLeod, Co-Founder of McLeod Governance.

This is what I would be thinking about this week.

Explaining Internal Audit and Risk Management to a Seven Year Old

How do you describe what it is that you do?

In this last week a friend’s seven year old came up to me and said “Tom – what is it that you do?” and I asked him what did he mean.

And he said “what do you do for a job?”

I said – “well that is easy.  I am very interested in internal audit and risk management.”

The inquisitive seven year old then proceeded to ask me “what is internal audit? What is risk management?”

I had one of those moments when I sat back and thought here is my opportunity to bring to the fore – to the attention of the seven year old – all my many years of knowledge and experience.

“I Help Businesses Be Better”

But instead, rather than recite chapter and verse all the legislation, all the pronouncements and rules and regulations I said to the seven year old:

“I help businesses be better”.

Now the seven year old looked at me and smiled – perhaps unsure whether that was the right answer or not – and ran off and jumped on the trampoline.

Afterwards it made me wonder – what is it that I do?

I can easily describe what is internal audit.  I can easily describe what is risk management or corporate governance.  But what is it that it does?

And perhaps the answer that I gave to the seven year old is exactly right.

If you can say that you are making your business better then that is ultimately a job worth doing.

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