Question: What do Enron, Andersen, and Kmart have in common? Besides the obvious, they all may have avoided some woes had they been based in Austin.Just about every year, the Institute of Internal Auditors' Austin chapter writes up a nice proclamation for the governor to sign designating an "Internal Audit Week
in May. And just about every year, the governor signs it, along with hundreds of other decrees that cross his desk.
The auditors pick May because that is when very serious groups of would-be policy reviewers gather in major Texas cities to take their certification tests, explained Robert Elizondo, an Austin chapter officer.
Given congressional hearings, SEC investigations, and other recent events, perhaps it's not too surprising that this year's press release heralding auditors' week of honor got a little more attention than usual, including a slightly smart-aleck write up in The Dallas Morning News.
"Never before have risk managers and internal control been more important, and businesses and governmental agencies everywhere should take a very close look at what they are doing to mitigate the risks that threaten their very existence,
admonished Michael Elder, the group's government relations chairman.
We can only assume that Enron, Andersen, and Kmart weren't on the distribution list for last year's announcement.