Understanding, Experience, and Technology for Compliance

The Changing Face of Internal Audit


Internal audit should enable timely visibility and active management of operational performance and risk exposure

Today, the business agenda is often set by external uncontrollable forces such as regulators, nongovernmental organizations, increasing commodities costs, environmental change and war. In such a scenario, the Internal Audit function must look to broaden its scope beyond assessment of internal controls to include assessment of internal audit risk exposure across the organization. Risk is not just limited to mere operational activities and pure policy compliance. It also includes managing the business consequences of inappropriate risk taking, deficient management practices, and ineffective strategic risk and capital management.

This panel will discuss the evolving role of Internal Audit and its impact on driving effective risk management program across the enterprise that can address the changing business landscape and enhance the ability to react rapidly to adverse events.


Paul SobelPaul J. Sobel - Vice President, Internal Audit - Mirant Corporation
Paul Sobel is Vice President, Internal Audit for Mirant Corporation, an energy company based in Atlanta that operates power plants in five states. He is responsible for directing the company's internal audit activities, and developing and implementing risk assessment and ERM methodologies. Paul is a frequent speaker on Governance, ERM and Internal Audit topics at IIA and other conferences, and achieved Distinguished Faculty honors as an instructor of IIA seminars. He has published a book titled Auditor's Risk Management Guide: Integrating Auditing and ERM. In addition, he co-authored the textbook titled Internal Auditing: Assurance and Consulting Services, which is sponsored by the IIA's Research Foundation.

Gaurav KapoorGaurav Kapoor, CFO and General Manager, MetricStream
As the CFO and General Manager of MetricStream, Gaurav has worldwide responsibility for Finance, Marketing, Business Development and the ComplianceOnline.com business unit. During his tenure at MetricStream, Gaurav has been instrumental in shaping key strategic initiatives and driving overall financial performance of the company. Gaurav brings nearly a decade of marketing, finance and operating experience with Citigroup and has spent several years in executive operating roles with venture-backed enterprise software and internet companies.

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