Institute of Internal Auditors (IIA) techni
cal and policy director Todd Davies has bid
farewell to the association to concentrate
on his private consulting business only a
week after the launch of the IIA’s contro
versial new policy drive.
The decision comes at the comple
tion of a two-year contract for Davies, dur
ing which he was charged with injecting
renewed momentum into the IIA’s advo
cacy initiatives by agitating for legislative
and industry change.
“My aim for the two years was to cre
ate a momentum that would outlast me,
and I think that’s well and truly done,”
Davies told Risk.
The “pièce de résistance” of his tenure,
was the launch of the IIA’s new policy cam
paign, which he says will be a “game-
changer” in Australia and is already flow
ing into IIA’s global standards. The policy,
released at the end of February, notably
advocates mandatory internal audit re
quirements for ASX Top 200 companies.
“The impact of these initiatives should
not be underestimated – it will have an im
pact on Australia’s competitive position in
the world as well as an indirect impact on
the lives of most Australians through their
super,” he said.
On the legislative front, the IIA has been
crucial in advocating the NSW Govern
ment’s wholesale review of audit and risk,
now partially complete, which has a view
to putting high risk standards at the heart
of its activities.
Davies has also overseen the creation of
a national forum for thought leadership
among Australia’s leading heads of audit and
risk from ASX 50 companies and the public
sector, with 40 organisations now involved.
The meetings of the group have “been struc
tured in a way to have a ripple effect through
out the entire profession,” Davies said.
Following the success of the role, the
IIA has created three positions to replace
Davies, and is still recruiting. The role is
to be split into a policy and advocacy role,
a chief auditor position, and a technical
manager role.
Davies said he will be doing audit com
mittee work with the NSW Government
and working with Australian audit firms to
drive innovation. He is also independent
chairman of private consulting firm Green
Collar Group.
News