Ep 228: Internal Controls: Respected or Just Tolerated? w/ Marc Tasse (University of Ottawa)

This week's episode, we're joined by Marc Tasse, MBA Program Director at the University of Ottawa. He also serves on the audit committee for the Ontario Treasury Board Secretariat and Public Safety Canada.   In this episode, he discusses whether people truly respect internal controls—from the board level to the first line—and the balance between repetitional and financial risk. Marc also shares the most important tasks for an audit committee member, the common challenges they face, and how internal auditors can better connect with their audit committees.   Be sure to connect with Marc 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:  2:34 - Researching Ethics with LLMs 6:15 - The Risks of Using Emojis in Emails 8:03 - Why Internal Controls Often Get Overlooked 12:16 - Managing Repetitional Risk Effectively 14:43 - A Real-World Fraud Case Example 16:25 - Key Responsibilities of an Audit Committee Chair 17:45 - The Measure of a CAE's Impact on the Board 19:20 - The Challenges of Being an Audit Committee Chair 20:59 - 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.