of this book occurred at such an odd time of isolation, I still had incredible support from so many people. I want to say thank you to all of those people, both professionally and personally, who experienced delays in response but waited patiently as I focused on creating this book.
I owe the biggest thanks to my son and daughter, Robert and Gabrielle, who sacrificed the most during the writing of this book. Even though I could not give them the level of attention they deserved, they still diligently checked in on me to ensure I remembered that I had kids. Even with their busy professional careers, they found time to share with me during my book development and writing breaks, and I deeply appreciated that. You have both turned out to be incredibly successful, and I could not be prouder to tell everyone that you are my children. Stay focused on your goals and never give up.
Thanks as always to my brothers, Jerry, Michael, and Stephen. All three of them provide support for me, whether it is for computer challenges, guidance, or office needs. No matter what, I can count on one of them chipping in to help me address the issue. I know my parents would be proud of how close we have stayed, and I could not be any luckier to have these guys in my life.
As always, a special thank-you to Barumbi for the constant inspiration and support throughout this entire process. From the first book on continuous auditing to now, you have been a constant every single day, and I know I could never replace you. I look forward to continuing to develop new approaches and concepts with you and look forward to collaborating long into the future. I could never replace the perspective, motivation, and insight you share with me. Let us keep this thing rolling.
No acknowledgment would be complete without including Lieutenant Colonel Henry “Pat” Campbell. Pat has been by my side for over 35 years since we met at Penn State, and I could not ask for a better fourth brother. Just like my brothers, I know that I can count on Pat and his wife, Laura, any time I need support or have any other ridiculous request. The two of you are amazing. I appreciate everything we have shared and look forward to seeing you soon. As I have mentioned to you before, I could never thank you enough for the 21 years of service in the US Air Force. The sacrifices you made allow me and countless others to enjoy their lives while you protected ours. I appreciate what you have done, and the sacrifices Laura made while you were away. You inspire me and every person you meet. Love you, brother.
In an unexpected acknowledgment, I must recognize three men that I literally owe for saving my life. How do you recognize and thank someone for keeping you alive and above ground? Words do not really seem like enough, but I will give it a try. To Dr. Martella, Dr. Sacchetti, and Dr. Tarditi, thank you a million times over for identifying, correcting, and providing me the absolute best care in fixing an unknown congenital defect that I was born with and no one, except for you, noticed and replaced just in time. You and your families will always be in my prayers and I am forever in your debt. Thank you so much for allowing me to spend more time with my children. All three of you are amazing and deserve the highest praise.
Thanks to Jonathan Marks, who is a constant source of critical industry, business, and professional knowledge and always dedicates the necessary time to provide insight into any topic. His intellectual property delivers a focused vision for the most effective way to understand and analyze a process. He is not only an invaluable source of intelligence but also a great friend. We have collaborated on many learning events, presentations, and projects, and I look forward to continuing those efforts going forward.
Thanks to my financial team, compiled of one amazing man, John Smith. Mr. Smith, aka Sma Sma Smitty, is not only my business associate but also a great friend. I appreciate the input, guidance, and support you have provided to keep me in the game for over 13 years and am looking forward to our next adventure.
Thank you to my long-time friend, Dino Borghi, at Borghi's by the Bay in Stone Harbor, New Jersey, for always taking care of me, my family, and business associates with unbelievable meals and unmatched service. It is beyond fun cooking and working with you, as well as hanging out to do things we probably should not be doing. If I have to make a bad decision with anyone, you are it. Give me a Hunge. You are the best.
As I acknowledged in my last book, there are so many business partners and audit team members that I have collaborated and worked with over the past three decades, and I truly appreciate all their hard work and contributions. Thank you all for the support and effort that you provided, whether it was to deliver a quality product to improve a business process or enhance the skills of a particular audit team. I look forward to partnering with you again in future endeavors.
About the Author
AFTER TWO DECADES IN the internal audit profession, Robert started his own company in 2007, which partners with internal audit, compliance, fraud, and business professionals to develop and facilitate custom training as well as provide resources and assistance in evaluating, creating, and implementing formal audit methodologies and effective business processes. Prior to starting his company, Robert worked in six different internal audit departments, most recently as the vice president of Internal Audit for the Penn Mutual Life. Prior to joining Penn Mutual, his work history included The Vanguard Group, Aetna, Prudential, Advanta, and GMAC Mortgage.
As a professional keynote speaker and facilitator, Mr. Mainardi leads programs to:
Develop and maintain world-class internal auditing functions
Evaluate internal audit risk via the Audit Risk Barometer
Create, implement, and maintain continuous auditing programs
Build learning maps to facilitate successful professional development
Draft, finalize, and issue high-impact audit reports
Deliver quality and value in a remote audit environment
Improve communication and client relationship development
Identify, recruit, interview, and maintain quality audit staff
Mr. Mainardi is an active member of the Institute of Internal Auditors (IIA). He is an internationally recognized featured speaker at accounting, audit, fraud, and other professional association conferences. He received a BS degree from the Pennsylvania State University, where he majored in Accounting and Business Law. He also earned a master's degree in Finance from Temple University. Plus, he has merited the Six Sigma Green Belt certification from the American Society for Quality, which recognizes the recipient for unique expertise in problem-solving and statistical analysis. He also has earned the Certified Financial Services Auditor (CFSA), Certification in Risk Management (CRMA) designations, and the Qualification in Control Self-Assessment.
CHAPTER 1 What Happened
THINK BACK FOR A MOMENT. Do you even remember the beginning of the year 2020, which started with such promise? You probably made a couple of New Year's resolutions. Maybe it was something about your weight, exercise, or even your job. At work maybe you made a commitment to improvement. This was going to be your year – you were going to seek opportunities to lead jobs, take a leadership position, and maybe even get promoted. No matter what goals you set for yourself, you were certain you knew what you needed to do and how you were going to get there. You had a plan.
The one factor every person has to consider when making a plan is to ensure that all possible and potential roadblocks to achieving the goals are identified and considered. Now, while there is no way to consider, document, and explain every reader's personal goals, I can definitely speak on the objectives of an audit department. For more than three decades, I have been a team member in an internal audit department and/or partnering with them to
