Today is the 2nd Friday of Accountability. 23 Pax showed up on a beautiful morning in the upper 40’s with no wind. Perfect condition to add on miles for RCR. At the same time, the PAX had no idea they will get something educational out of this workout. We started off with some stretches.
1) to the first stop (PJ’s on Tulane Campus) – once we got there, we did some arm circles and self love. When people say “accounting,” most think of tax returns, financial accounting…. but many never thought about auditing. And this is our focus today – Audit.
Why is auditing important? If Sandbar asks you to invest in his Left Bank company, the first thing you would ask for… his financial statements so that you can make a wise decision whether or not to invest in his delicious company. Sandbar seems like a nice guy, but how do I know his financials are accurate? How do we know he’s not inflating his revenue and net profit? If his financial statements were audited by an independent firm or accountant, you have more confident that his financial statements are free from material misstatements.
2.) 2nd stop (field by UC) – There are 5 Code of Ethics Principles for auditors. First one is Integrity.
Integrity – Audits are performed with diligence, honesty, and responsibility. Keeping yourself honest so that you can provide quality work for your clients and peers.
We kept ourselves honest by doing 10 perfect form inclined merkins in cadence.
3.) 3rd Stop (Turf Field by Tulane Garage) – While we were doing LBTs, we were discussing the 2nd principle, which is Objectivity.
Objectivity – Auditors remain unbiased or fair in all their dealings.
Like Angie’s said – “have to see both sides.”
4.) 4th stop (Indian run to the top of Tulane garage) – at the top, we talked about the 3rd principle, which is Professional Competence and Due Care, while we were doing shoulder taps.
Competence – keep up your knowledge and skill while providing service to your client. Apply due care based on the importance of tasks and on the confidence given to you by a client.
5.) 5th stop (Indian run to the top of Loyola “mini” garage) – at the top, we brought up the 4th principle, which is Confidentiality, while we were in people’s chair position with overhead presses.
Confidentiality – Practice discretion and protection of information when auditing. Never use audit information for personal gain or in harmful way to legitimize the interests of an audit.
6.) 6th stop (Indian run to the top of WPM)
7.) final stop – back to the flag to finish off with the final principle, which is Professional Behavior.
Professional Behavior – follow the law and regulations.
At the COT, I quizzed the PAX and see if they were paying attention on the 5 principles. Angie’s List was dialed in and aced the quiz.
Thanks for allowing me to lead and lets keep each other accountable!!!
SYITG
King Kong
