Wolfgang Hobuss

Qualifications and Senior Management Programs

Master's degree in Economics and Business Administration from Ruhr-University in Bochum, Germany

Institute of Internal Auditors (IIA): Accredited Internal Audit Quality Assessor

Various training programs on internal audit, enterprise risk management, fraud prevention and investigation, audit committees and related areas.

Responsibility for various internal audit functions, including outsourced functions

Establishment and management of a compliance function for the UN High Commissioner for Refugees (UNHCR)

Chairperson of the Independent Audit and Advisory Committee for the International Organisation for Migration (IOM)

Establishment of ERM systems for various organisations, and facilitation of numerous risk workshops

Wolfgang and Joe have supported audit committees to meet their IIA responsibilities through the combined performance of over 50 external assessments of conformity with the IIA's standards. They have performed assessments in the private and public sectors for international agencies and multinational companies across major industries including banking and insurance, energy, telecommunications, consumer goods, airlines, manpower, retail and software development.

Beyond the minimum requirements of the one-size-fits-all standards, the two partners have supported audit committees by conducting numerous tailor-made reviews of the impact internal audit has on helping organisations achieve their goals.

Audit Impact can be enhanced through actionable reporting, both in terms of audit reports and through reporting to the audit committees. Having been auditors, Chief Audit Executives (CAEs), and audit committee members, Wolfgang and Joe have in-depth expertise in clear and concise audit reporting.

An area of particular interest and importance to audit committees is the optimisation of audit resources. What size should the function be and what is the appropriate mix of skills within the team? Wolfgang and Joe have practitioner experience in working with audit committees and executive management teams to determine the optimal investment relative to the organisation’s activities and strategic goals.

Furthermore, Wolfgang and Joe have established or rebuilt various audit teams and can, therefore, support audit committees with recruitment and interim CAE services.

For an internal audit function to maximise its impact, its priorities must be shaped by the strategies and risks of the organisation. Also, as an independent activity, reporting functionally to the audit committee, internal audit relies on the effectiveness of the audit committee to maximise its impact.

Through his numerous risk and governance related PwC assignments, Wolfgang has a big-picture view of internal audit, as has Joe having held senior responsibilities in strategy and risk management. Furthermore, the partners have served on several audit committees in industries including financial services, healthcare and energy and renewables, with Wolfgang having chaired an audit committee for an international agency.