Dr. Rainer Lenz
Director Corporate Audit Services
Dr. Rainer Lenz is a seasoned financial and audit executive with over 25 years of international experience in global organizations. Since 2018, he has been Head of Corporate Audit Services at SAF-HOLLAND. Rainer holds a Ph.D. from the Louvain School of Management in Belgium.
His doctoral dissertation about the effectiveness of internal audit was the winner of the Advancement Award 2013 from the German Institute of Internal Auditors (DIIR Förderpreis). His co-authored book on the subject of combined assurance was the winner of the Larry Sawyer Research Foundation Project of the Year Award 2012 from the Institute of Internal Auditors in the U.S. He has published articles in peer reviewed academic journals such as International Journal of Auditing, Journal of Applied Accounting Research, and Managerial Auditing Journal.
Rainer is trilingual with business degrees from Universities in Germany, France, and the U.K. He is a Certified International Investment Analyst (CIIA, CEFA) and an Internal Audit Leader (CIA, QIAL).
Thursday, 19th - 4:50 p.m. to 5:40 p.m.
Concurrent session 4.1 - WRAPS - How to make better decisions
Inspired by the New York Times bestselling authors’ book “DECISIVE: How to make better decisions” (Heath and Heath, 2013), I will apply the WRAPS model to the world of internal auditing. While internal auditors are not the decision maker for what the implementation of remediating actions is concerned, nonetheless, they are taking many decisions regarding their processes and outcomes. Along the acronym WRAPS, I will share my perspective on how to improve such decisions when seeking to render effective internal audit services. Thereby, I will focus, among other aspects, on the challenges of “narrow framing” (“Widen Your Options” is recommended) and “overconfidence” (“Prepare to be Wrong” is recommended).
My perspective benefits from over 25 years of international experience in global organizations as finance and audit executive and my dive into the world of academia in parallel to my full-time job, performing empirical research about internal audit, too.