Group Risk and Audit at Telecom Limited

Telecom Limited provides connectivity to millions of people daily in New Zealand and Australia through telephone networks and voice, mobile, Internet, and data services. In 2005, the company merged its internal audit and group risk function to create greater synergy between the two groups and ensure that enterprise-wide exposures are effectively managed, without redundancy. In this profile, Phil O’Connell, manager of the Group Risk and Audit team, discusses the benefits of this group merger, how he measures performance in meeting strategic objectives, and the role of internal audit in Sarbanes-Oxley compliance.