Relaunching the Larry B. Sawyer Internal Audit Foundation Project of the Year Award
Dr. Rainer Lenz suggests that The IIA relaunch the Larry B. Sawyer Internal Audit Foundation Project of the Year Award to complement the existing student scholarship. He highlights the award's timeless criteria and topics, emphasizing their relevance in today's rapidly evolving internal audit landscape. Lenz believes this award would encourage innovative thinking and strategic advisory roles within the profession.
A Call for Renewed Recognition of Internal Audit Innovation
Dr. Rainer Lenz proposes that The Institute of Internal Auditors (IIA) consider reinstating the Larry B. Sawyer Internal Audit Foundation Project of the Year Award. This suggestion comes as a way to further honor the legacy of Larry B. Sawyer and to foster groundbreaking work within the internal audit profession, building upon the success of the existing Larry B. Sawyer Student Scholarship. The article underscores the importance of recognizing projects that push the boundaries of current thinking and provide valuable insights for a global audience.
Timeless Criteria for a Changing Profession
Lenz points out that the original award criteria remain highly pertinent, focusing on projects that:
- Align with Sawyer's vision of advancing the profession by addressing emerging issues (50%).
- Challenge conventional thought (30%).
- Possess global appeal (20%).
The suggested topics for the award are equally compelling, emphasizing the human, leadership, political, and creative aspects of internal auditing, and the role of internal auditors as the "eyes and ears" of management. These areas encourage a holistic and forward-thinking approach to internal audit practice.
Adapting to the Future of Internal Audit
In light of significant changes impacting the internal audit profession, including the rise of Artificial Intelligence (AI) and Generative AI (GenAI), Lenz argues that the award could explicitly address these new technologies and their interplay with human auditors. He also suggests that established principles like objectivity, independence, and the Three Lines Model could benefit from fresh perspectives. Relaunching this award would align with the profession's Vision 2035, encouraging internal auditors to evolve into strategic advisors and contribute innovative solutions to complex challenges.
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