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Michael J. Fucilli

Principle | MAS Audit Services

Michael J. Fucilli CIA, QIAL, CRMA, CGAP, CFE has 40 years of internal auditing experience in the private and public sector. He has since retired as Auditor General at Metropolitan Transportation Authority, the largest Public Sector Transit Authority in North America with Operating Revenues in excess of $15 billion and a Capital Program of $5 Billion. Mike has an extensive background in internal auditing that includes Financial Services, Public Sector, GRC, Technology, Forensic Auditing and SOX Reporting. Mike managed a staff of 85 professionals. He has served on The IIA’s North American and Global Boards and is a frequent speaker and presenter for the IIA. Mike possesses both the COSO and COSO ERM Certificates. 

Effective Risk Assessments

Day 2 | Track 2 | 11 - 11:50 AM

Auditors at all levels understand the key risks faced by their company, and develop a risk-based Audit plan in real time, deliver tremendous value to their organization, and gain credibility with their primary stakeholders and regulators. Previously, Audit departments relied on traditional methods and knowledge and their Audit Plans were set in stone and inflexible. By leveraging enterprise-wide and business line risk assessments, audit departments can focus their resources on what matters now. 

This session will achieve the following: 

  • Review Internal Control frameworks that deal with changing risks in an organization 

  • Discuss the rising importance of risk assessment and the need for aligning business focus on the right set of business risks 

  • Explain how auditor will better understand risk, thus increasing the effects on your audit impact to the organization. 

  • Review all risk categories – Financial (market, credit, liquidity), Strategic (execution risk, competitor risk, etc.) and Operational (HR risk, technology risk, etc.) 


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