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The Institute of Internal Auditors North AmericaBreadcrumb SeparatorNewsBreadcrumb SeparatorBlog: Ford's and GM's Fortunes Offer Lessons for Internal Audit

Read Richard Chambers' Latest Blog
Ford's and GM's Fortunes Offer Lessons for Internal Audit

In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:

American business icons General Motors Corp. (GM) and Ford Motor Co. recently have traveled divergent roads. While GM has seen a resurgence in the past three years, Ford's weak stock performance of late led to a shake-up in May resulting in the ouster of its CEO. While volatility in the fortunes of automakers has become almost routine, internal auditors can learn valuable lessons from GM's improving fortunes and the messages coming from Ford's new leadership.

GM CEO Mary Barra has been credited with transforming the company through her innovative thinking and her commitment to leading a culture change. Less than 10 years from bankruptcy and bailouts, GM has seen a number of highly profitable quarters. But beyond the bottom line, Barra's efforts to change GM's dysfunctional and bureaucratic culture is what is being viewed as helping the company step back from the abyss.

Read the full blog post from IIA President and CEO Richard Chambers.