Audit & Risk: Season 20 Preview

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Bonus episode #93: Leadership isn't about mastering spreadsheets—it's about transforming information into strategic action. In this preview of Season 20 of the Finance Leader Podcast, Stephen McLain unveils an exciting five-episode journey exploring audit, risk, and independence through the lens of leadership development.

Drawing from his compelling experiences as an internal review officer in Iraq, McLain shares how he helped military commanders stretch their budgets through enhanced accountability—often facing resistance until those same leaders witnessed how proper controls actually empowered their mission. This military-to-business parallel offers a refreshing perspective on audit functions that extends far beyond fraud prevention to ensuring financial accuracy and stakeholder confidence.

The upcoming season promises a comprehensive exploration of audit leadership, beginning with CFO oversight and audit team dynamics, then progressing through risk assessment, audit strategy development, and concluding with an intriguing look at forensic accounting careers. Whether you're looking to advance in finance, enhance your leadership toolkit, or discover how audit expertise can propel your career forward, this season delivers practical insights for professionals at every level. Subscribe now to join the journey toward becoming a strategic finance leader who thrives amid complexity and brings clarity when chaos seems the norm.

Please connect with me on:

1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii

For more resources, please visit Finance Leader Academy:  financeleaderacademy.com.

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Episode Transcript

Stephen McLain (00:00):
Hi. This is Stephen McLain of the finance
leader podcast. This is bonusepisode number 93 now, good day,
and welcome to another bonusepisode of the podcast while I
am creating other content andepisodes for you. This will be a
quick introduction for my nextseason about audit and risk.
This will be season number 20 ofthe podcast. My goal for this

(00:23):
podcast continues to highlightleadership development as it
relates to your advancement as afinance and accounting
professional. I believe thatleadership is the key to
advancement. We'll always findExcel experts who can develop a
beautiful spreadsheet, butleaders now that is Strategic
Finance. Leaders know how to useinformation to make the company

(00:45):
better, to lead in a crisis, toprioritize and set their team in
the right direction, and tobring clarity and purpose when
chaos seems the norm, leadersare the ones who can forge
ahead. I want to develop leaderswho make a difference. This very
short episode is about what iscoming up over the next five

(01:06):
weeks, I'll be diving intoaudit, risk and independence. I
served as an internal reviewofficer for the Army while I was
in Iraq. My role mostly centeredaround internal controls in
order to eliminate fraud, wasteand abuse. I'm excited to share
my own experiences trying tohelp senior leaders, in this

(01:27):
case, senior commanders with therank of colonel and general, in
helping them stretch theirbudgets with more
accountability. Now, most of thetime, they hated me because they
thought what I was asking themto do was a waste of time
because it got in the way oftheir wartime mission. So yes, I
wasn't everyone's favorite wholikes the person who asks them

(01:48):
to do more accountability untilthat accountability brings about
positive change that helpsaccomplish the mission and the
strategy. So here is the episodeplan over the next five weeks.
Now, Episode 140 will be abouthow the CFO oversees the audit
function. Episode 141 will focuson the role of the audit team

(02:11):
and its leaders. Episode 142will be about assessing risk in
your company, audit risk andrisk when it comes to developing
your strategy. Now in Episode143 I will share an audit
strategy and tips for a betteraudit plan. And for episode 144
I wanted to highlight the roleof forensic accounting, which is

(02:33):
a unique set of skills andability to find financial facts,
and how this might be a greatcareer for some of you. I can't
wait to share. Audit is a greatplace to work, and especially if
you want to dive into detailsand processes to better protect
company assets and to ensurefinancial accuracy. Audit isn't

(02:57):
always about stopping theft,because it also includes
ensuring the company isaddressing any material change
in the accounts that could alterperception of performance. This
is important due to regulatoryrequirements and also critical
to investors, creditors andother stakeholders. Have a great

(03:17):
week. Always work on improvingyour leadership skills, take
care and thank you.