Insights from #SOPAC Sydney for auditors, accountants and financial planners
In March, I had the pleasure of speaking at the Institute of Internal Auditors’ annual Asia-Pacific conference, #SOPAC2019 in Sydney. Before my presentation, I was fortunate to sit in on the address by U.S.-based President and CEO of IIA, Richard F.Chambers, entitled ‘Auditor of the Future’, where he highlighted the findings in his book, Trusted Advisors: Key attributes of outstanding internal auditors.
I found that many of the vital attributes described would be recognised as important for other advisors, such as different types of accountants, as well as financial advisors.
The top attributes found in the study of successful auditors were broken into three key areas that build trust, and it is easy to see how these apply to all kinds of professional people in advisory roles, for example:
- Professional: Going beyond solid technical expertise to think critically about problems
- Relational: The importance of powerful communication to build relationships and to lead others
- Personal: Maintaining ethics while focusing on results
Indeed, these ideas were echoed in one of the highlights of the conference, a panel discussion on governance post-Royal Commission, between Australian Bankers Association CEO Anna Bligh AC, ASX Corporate Governance Council Chair Elizabeth Johnstone, and ASIC Commissioner John Price.