Chambers explores new ways to navigate uncertainty and turn risks into opportunities

2024 AUDIT & BEYOND CONFERENCE — AuditBoard, the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today announced Richard Chambers — AuditBoard’s Senior Advisor, Risk and Audit, renowned author, and the former CEO of The Institute of Internal Auditors — has released a crucial new book, “Connected Risk: Conquering the Perilous Risk Exposure Gap,” a deep dive into the challenges facing enterprises in a volatile risk environment. In it, Chambers provides a blueprint for organizations to adopt a “connected risk” approach to reduce silos, leverage technology, and foster collaboration among all key risk management players. The announcement took place at Audit & Beyond, the premier event for audit, risk, and infosec leaders.

This latest release builds on Chambers’ earlier books “The Speed of Risk: Lessons Learned on the Audit Trail, 3rd Edition,” “Trusted Advisors: Key Attributes of Outstanding Internal Auditors, 2nd Edition,” and “Agents of Change: Internal Audit in the Era of Permacrisis, 2nd Edition.” His previous works explore his experiences gathered over 40 years in internal audit, the key traits defining internal auditors who are recognized as trusted advisors within their organizations, and the evolution of the profession as change agents who navigate risk turbulence to drive business value.

“In the first half of the 2020s, we have learned that managing risks in silos only creates more risk,” said Chambers. “The approach I advocate in this book is one termed ‘connected risk' — a modern, cross-functional, and technology-enabled approach to managing risk across the enterprise. We need to work together — audit, risk management, information security, and beyond — to not only protect but also create value. This book is a call to action for all of us to rethink how we manage risk in this age of constant crisis.”

Drawing on his perspective as an internal auditor, business leader, and board member, Chambers lays out the current state of risk management and the case for connected risk in five parts:

• Part 1 inspects the root causes behind the speed of risk and the devastating value destruction effects we have observed as a result.
• Part 2 assesses the phenomenon of the “risk exposure gap.”
• Part 3 considers how the effects of the risk exposure gap are impacting organizations.
• Part 4 offers a deep dive into connected risk, including identifying the key attributes of connected risk thinkers.
• Part 5 looks forward, sharing strategies and thoughts on the future of risk management.

“This latest book from Richard, like his earlier offerings, should be considered an addition to every internal auditor’s toolkit — and is a ‘must-read’ for any risk-focused professionals across the three lines looking to elevate their impact and profession,” said David Hill, CEO at SWAP Internal Audit Services. “Delivering an inspired call to action, Richard outlines key attributes of connected risk thinkers and offers practical solutions for influencing change, aligning terms and technologies, and futureproofing for risk resilience. Point by point, Richard makes the case for a reinvigorated approach to risk management that empowers professionals to rethink how they work together.”

The book has been lauded by observers for its forward-thinking vision, with the Financial Times calling it “a galvanizing call to action for auditors and risk professionals to come together.”

To learn more about effective risk management in the era of permacrisis and beyond, purchase the book, listen to the latest episodes of Chambers’s podcast “Agents of Change,” or tune into his keynote presentation at Audit & Beyond.

About Richard Chambers

Richard Chambers is the CEO of Richard F. Chambers & Associates, a global advisory firm for internal audit professionals, and also serves as Senior Advisor, Risk and Audit at AuditBoard. Previously, he served for over a decade as the President and CEO of The Institute of Internal Auditors (IIA), where he led the organization to record global membership and countless milestones. Prior to The IIA, Chambers was national practice leader in Internal Audit Advisory Services at PwC and vice president of The IIA's Learning Center.

About AuditBoard

AuditBoard is the leading cloud-based platform transforming audit, risk, compliance, and ESG compliance management. More than 50% of the Fortune 500 leverage AuditBoard to move their businesses forward with greater clarity and agility. AuditBoard is top-rated by customers on G2, Capterra, and Gartner Peer Insights, and was recently ranked for the fifth year in a row as one of the fastest-growing technology companies in North America by Deloitte. To learn more, visit: AuditBoard.com.

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