Ep 191: Modern Day Audit Leadership w/ Dave Malcom

This week, our guest is Malcom, Former Senior Vice President and Managing Director for Internal Audit Digital Transformation and Data Analytics at Northern Trust. Dave recounts his mid-40s retirement journey and his subsequent decision to return with the desire to help internal auditors in his organization.   In this episode, he reveals his approach to establishing an internal audit department, discusses the expected duties of the audit committee, and underscores the credibility boost through the strategic use of data analytics to identify outliers.   Be sure to connect with Dave on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes: 5:28 - Coming Out of Retirement 9:10 - The Impact of Generative AI 10:28 - The Importance of Investing in Data Analytics 13:58 - Data Literacy 16:21 - How to Make your Audit Department Better 19:23 - What to Expect from the Audit Committee 27:27 - How to Achieve Quantitative Risk Assessments 31:00 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.