Auditing Social Media and Reputational Risk

Identifying and assessing risk is the basis for most of the work done in internal audit, but it is getting harder to keep up with the most relevant risks. New risks are introduced faster than we can react, and both the emerging and established risks are always changing. Often the most complicated risk to understand and evaluate is reputational risk, and one of the most volatile aspects of reputational risk comes from social media. The objective of this session will be to define and discuss social media as both a strength and weakness for your organization. We will discuss the different types of social media and how each poses unique opportunities and often unforeseen threats, citing specific examples and scenarios. We will specifically focus on how social media can impact reputational risk and what you can do as an Internal Audit department to ensure this risk is being addressed and properly mitigated.

Speakers: Felicia Best, Market Development Consultant, TeamMate

Felicia Best - For the past 8 years, Felicia has been a Consultant for TeamMate, a part of the Tax and Accounting Division of Wolters Kluwer. Currently, she is a Market Development Consultant, guiding existing and prospective customers in finding a solution to their audit, compliance, and data analytics needs. Prior to this role, she was a Senior Professional Services Consultant, where she spent 6 years assisting organizations with TeamMate implementations and end user education.  
Felicia started her auditing career in the Internal Audit practice of PricewaterhouseCoopers, working in a variety of industries. Prior to joining TeamMate, she worked in Internal Audit for Hearst Media Corporation. As a Professional Services Consultant for a global audit and compliance software company, Felicia has had the opportunity to gain knowledge and insight into the requirements, methodology and best practices of hundreds of Internal Audit and Compliance departments across various industries, including federal agencies.

Upon completion of this program participants will be able to:
1.  Gain a better understanding of the business risks associated with social media
2.  Understand the impact of social media as an element of reputational risk to your organization
3.  Discover and discuss options for addressing and minimizing social media risk within your organization while still leveraging its positive aspects

Field of Study: Auditing
Program Level: Overview
Location: Virtual
Type of Delivery Method: Group-internet-based
Prerequisite: Understanding of audit and risk management
Advanced Preparation: None
CPE Credit: 1 Credit Hour
Cost: None