Weekly Wrap – 26th June 2014


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

This is what I would be thinking about this week.

Are Annual Conferences Out of Date?

In just over a week’s time the showpiece of the Institute of Internal Auditors will take place in London at its International Conference.

At that conference there will be approximately 3,000 or so people in attendance and it will be a wonderful success not least because the President of the Institute, Paul Sobel, will make sure it is so.

But my challenge to the Institute of Internal Auditors and indeed my challenge to the broader risk, governance and audit professions is that such conferences are now starting to become out of date.

How Are the Other 99% Being Reached?

Assume for one moment that 3,000 people do attend that conference – that is less than one percent (editors note post production: it is actually 1.6%) of the global membership base of the Institute of Internal Auditors.

So how are the other 99% being reached out to?

And it is that point which is the focus of today’s Weekly Wrap.

Adopting MOOCs

How are the professions of internal audit, risk management and corporate governance encouraging or using what is now known as MOOCs – massive open online courses.

Courses which have unrestricted access and use the networking capabilities of the internet.

The way that internal audit, risk management and governance has been taught has not changed now for fifty years – yet the world has changed around it.

My great concern is that one day we are going to wake up and someone like a major accounting firm will – rightly – step into the void and undertake some form of MOOC training that will completely revolutionise to what it is to be accessing internal audit and other types of training.

Surely the key responsibility of us all is to make sure that the next generation is better educated than we are.  MOOCs will allow us to do this.

But only if we embrace them.

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