Call to Relaunch Larry B. Sawyer Internal Audit Foundation Project of the Year Award
Dr. Rainer Lenz advocates for the re-establishment of the Larry B. Sawyer Internal Audit Foundation Project of the Year Award, emphasizing its relevance in fostering innovation and addressing emerging challenges within the internal audit profession. This initiative would complement existing student scholarships and encourage research aligned with Sawyer's forward-thinking vision, particularly as the profession navigates significant changes and aims for its Vision 2035.
Reigniting Innovation in Internal Audit
Dr. Rainer Lenz proposes the relaunch of the Larry B. Sawyer Internal Audit Foundation Project of the Year Award, highlighting its potential to stimulate critical thinking and innovation within the internal audit profession. This suggestion comes as the Institute of Internal Auditors (IIA) celebrates Internal Audit Month and the success of the Larry B. Sawyer Student Scholarship, which recently recognized three students for their academic achievements. Lenz argues that an award for projects would further advance the profession by encouraging research and practical applications that align with Sawyer's enduring vision.
Sawyer's Enduring Vision and Award Criteria
The original award criteria, which Lenz finds as pertinent today as they were in 2012, focused on projects that:
- Closely align with Sawyer’s vision of moving the profession forward by addressing emerging issues and providing insight (50%).
- Push the boundaries of current thinking (30%).
- Are appealing to a global audience (20%).
The suggested topics for the award also reflect Sawyer's distinctive approach, emphasizing the human, leadership, political, and creative sides of internal auditing, and the role of internal auditors as the "eyes and ears" of management. These areas remain crucial for internal audit professionals seeking to add strategic value.
Addressing Modern Challenges and Vision 2035
Lenz suggests that a relaunched award should explicitly consider contemporary issues such as Artificial Intelligence (AI) and Generative AI (GenAI), and the evolving human-machine interplay. Furthermore, he believes that established principles like objectivity, independence, and the Three Lines Model could benefit from fresh perspectives in light of the profession's changing landscape. As internal audit strives to achieve its Vision 2035, with auditors increasingly expected to act as strategic advisors, an award that recognizes groundbreaking projects would be instrumental in fostering the necessary research and development to meet these evolving expectations.
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