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Agile Internal Audit:

Leading Practices from CAEs on

the Journey to Becoming Agile

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Andre

Al-Dawaf

Siemens

Assurance Partner

Concept &

Transformation

Jamie

DuBray

Schlumberger

Audit Director

Western Hemisphere

Jeff

Jarczyk

Fidelity Investments

Executive Vice

President & Chief

Auditor

Brandi

Joplin

Walmart

Senior Vice President

& Chief Audit

Executive

Sarah Adams, Moderator

Managing Director, Deloitte & Touche LLP

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Polling Question 1Please open the conference app to participate

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Polling Question 1

In one word, what does Agile mean to you?

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Agile Internal Audit

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Siemens: Overview

379 kEmployees

83bnRevenue

> 200Countries

171 years responsibility for society

Gas &

power

Digital

IndustriesSiemens

Mobility

Smart

Infrastructure

Controlling & Finance Assurance

260 internal auditors

located in 8 different countries

providing Assurance

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Siemens: Transformation journey

Better Faster Happier

Value to Business…

Team performance…

Decision Making…

… Responses …

… Adaptability to Change …

… Reports …

… Teams

… Stakeholders

… Individuals

Moving fast but in a ‘scientific’ way

• Outside-in-view via benchmarking

• Introduction to Agile as the new

way of working

• Getting inspired by Deloitte’s

white papers on Agile auditing

• Experiment

• Inspect and adapt

• Leverage lessons learned from retrospectives

• Building Center of Expertise (CoE)

• First thoughts on apprenticeship model for

Agile Internal Auditing capabilities

• Establish roles and career model

• Quality gates through CoE

• Holistic change management

• Further refine the role of the CoE

• Global deployment of training

• Fully Agile by FY 2021

Identification & Preparation Pilot Waves I – III Scaling Up

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Schlumberger: Overview

85+ countries

100K people

140 nationalities

~$33B revenue

Schlumberger is the world's leading provider of technology for reservoir

characterization, drilling, production, and processing to the oil and gas industry.

For over 90 years, Schlumberger technological innovations have provided

value for oil and gas operators by helping them increase production and

recovery from nonrenewable resources.

40+ auditors delivering

60+ audits/year

30 nationalities

16 languages

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Schlumberger: Transformation journey

January

Agile Training

February

New Report Format

June

Agile Pilot for

Eastern

Hemisphere

April

Agile Pilot for Western

Hemisphere

Our Journey

1 Increased stakeholder engagement through the audit

2 Shortened audit life cycle & time to report

3 More meaningful findings and insights

4 Streamlined reporting format for what is meaningful

Why Agile?

Increased stakeholder engagement

Shortened audit life cycle & time to report

More meaningful findings and insights

Streamlined reporting format

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Fidelity: Overview

Fidelity Corporate Audit provides independent and objective audit and

advisory services that help Fidelity manage risk, improve customer

service, and enhance business performance

155 audit associates delivering

200+ audits/year

Innovation &Enablement

DistributionInformationTechnology

AssetManagement

CorporateFunctions

5 teams8 locations

Privately owned for 70+ years

ASSET

MANAGEMENT

PERSONAL

INVESTING

INSTITUTIONAL

CUSTODY

CLEARING

TECHNOLOGY

WORKPLACE

INVESTING

28Mindividuals

23Kcompanies

13K

advisors

$7.4T

customer

assets

40Kassociates

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Fidelity: Transformation journey

Agile terminology Purpose of ceremonies Career progression

• Pilots with coaches

• Continuous

improvements

• Blueprint

• Stable teams

• Experiment

• Scrum master training

• Op model, team design

• Roles/responsibilities

• Coach capabilities

• Learn and iterate

• Continuous improvement

• Coaching capabilities

• Center of Excellence

! ! !

Q1 – Q2 Explore Q3 Pilot Q4 Transform FY19-20 Sustain

Why Agile?

More timely delivery of higher impact

results

Improved ability to dynamically manage

audit priorities

More frequent and transparent

engagement with stakeholders

Empowered, engaged, happy associates

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Walmart: Overview

Walmart Global Audit strives to be a valued

and trusted business partner, helping to

anticipate risk while providing assurance and

advisory services.

$514B

Countries with

eCommerce websites

11,200Store/Club locations

Fiscal year 2019 revenue

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Associates worldwide

Countries

2.2M

10325+Associates

350+

Audit global office

locations

Audits

completed

annually

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Walmart: Transformation journey

Mindset shift

Pilot projects

Retrospective

Elevate – Agile-ist

Iterate!

Transformation!

2017

2019

2018

Why A

gile

?

Responsiveness• Flexibility to keep pace with business disruptions

• Culture of inspection, reflection, and adaptation

Transparency• Increased level of communication and

interaction

• Deliver insights incrementally

Business Value• “Customer in the middle” to drive value

• Cross-functional work teams to build

partnerships and solve complex problems

Collaboration• Teaming environment

• Inspires innovation and willingness to

adopt new ways of working

15Andre Al-Dawaf

Siemens

Jamie DuBray

Schlumberger

Jeff Jarczyk

Fidelity

Brandi Joplin

Walmart

325 associates

350+ audits/year

10 locations

Began: May 2017

Fully Agile: December 2019

260 Internal Auditors

8 locations

Began: January 2019

Fully Agile: FY 2021

155 audit associates

200+ audits/year

8 locations

Began: July 2018

Fully Agile: February 2019

40+ associates

60+ audits/year

2 locations

Began: April 2019

Fully Agile: August 2019

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Polling Question 2Please open the conference app to participate

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Polling Question 2

Are you, or will you, be going Agile? a. We are fully Agile

b. We are in the process of transforming to become Agile

c. We are piloting Agile

d. We are considering Agile

e. We have no plans to implement Agile

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19Andre Al-Dawaf

Siemens

Jamie DuBray

Schlumberger

Jeff Jarczyk

Fidelity

Brandi Joplin

Walmart

325 Associates

350+ audits/year

10 locations

Began: May 2017

Fully Agile: December 2019

260 Internal Auditors

8 locations

Began: January 2019

Fully Agile: FY 2021

155 Audit Associates

200+ audits/year

8 locations

Began: July 2018

Fully Agile: February 2019

40+ Associates

60+ audits/year

2 locations

Began: April 2019

Fully Agile: August 2019

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Thank you!!!