Explaining My Job to a 12-Year-Old
Breaking Down Internal Audit, Risk, and Governance Through a Bicycle Analogy
Recently, my 12-year-old son asked me a question that left me pondering: “Dad, what exactly do you mean by internal Audit, risk, and governance?” It was quite the task to simplify these complex concepts, but I gave it my best shot with a relatable analogy.
The Bicycle Scenario
I began by asking, “Do you remember your bicycle?” to which he eagerly nodded, recognizing a favorite possession. “Imagine I’m the owner of that bicycle, but I’ve entrusted it to you,” I explained.
“Yes,” he confirmed, understanding the relationship.
Governance Made Simple
I continued, “As the one using the bicycle, you have the responsibility to keep it in good shape, make sure it stays clean, and avoid any damage. That responsibility is what we call ‘governance’.”
With a thoughtful expression, he acknowledged, “I get it.”
Understanding Risk
Next, I asked, “Is there a possibility that someone might try to steal your bicycle someday?”
He shrugged with a cautious “Yes.”
“Exactly,” I said. “That possibility is known as ‘risk’.”
Enter Internal Control
“Now, to prevent someone from actually taking it, what steps do you take?” I queried to steer him further into the concept.
“I use a lock and chain it to something heavy,” he replied.
“Perfect! That safeguard is what we refer to as ‘internal control’.”
With a brighter understanding, he responded, “That makes sense!”
Demystifying Internal Audit
“Additionally,” I added, “your mom occasionally checks to see if your bicycle is locked properly. If it’s not, she alerts you and informs me about it. Her vigilance is akin to an ‘internal audit’.”
“Hmm,” he murmured, visibly intrigued by this revelation.
Conclusion
This analogy not only made my son smile but also gifted him—and myself—a fun and simplified way to grasp the essentials of what I do at work. It turns out that even the heaviest of topics can become quite digestible when served with a dash of creativity and practical application.
One response
Your analogy with the bicycle is both simple and effective for explaining complex concepts like governance, risk, and internal Audit to a child. To further build on this analogy and offer additional insight, let’s expand on each aspect and provide practical advice for engaging your son in an even deeper understanding.
To start, let’s introduce a broader perspective on governance, risk, and internal control, helping your son see how these elements fit into real-world scenarios as well:
Picture governance as the instructions for not just how you care for your bicycle but for making sure every time you ride it, you follow certain rules to ensure a safe and enjoyable experience. It’s like having a family agreement on how your bikes are used—where and when you can ride, and what to do before and after a ride. This involves making joint decisions and being clear about who is responsible for what.
Practical Tip: Share with your son how your workplace also operates under a similar set of rules and guidelines that everyone follows to keep things running smoothly and achieve common goals.
Instead of only focusing on theft, broaden the discussion to other risks like getting a flat tire or bad weather. It’s important to recognize that risk can involve various challenges that might prevent you from enjoying your bicycle. Identifying and thinking ahead about these possibilities helps you plan better.
Practical Tip: Encourage your son to think of other scenarios where he might need to anticipate and address risks, such as in school projects or while playing a sport. This can develop his analytical and problem-solving skills.
Internal controls are not just about locking the bike. They include everything you do to make sure your bicycle remains in good condition, such as checking the brakes or wearing a helmet. These controls are safeguards put in place to minimize risks and make sure everything goes smoothly.
Practical Tip: Emphasize regular maintenance checks as a form of control. Relate it to how his school lockers have padlocks or how teachers ensure all students have the right textbooks to prevent academic chaos.
While you did a fantastic job illustrating your mom’s role, extend that idea by talking about feedback. Internal Audit is more than just checking; it’s about continuous improvement. Just like how his mom may suggest better ways to lock the bike based on her checks, in a business, audits help find better ways to do things, pointing out areas for