1.4 Is Cognitive Bias Getting in the Way of Your Objectivity?
A core principle of the Internal Auditing Profession is to be objective and free from undue influence.
The way we process information, and our view of the world can enhance or detract from this principle.
In the presentation “Is Cognitive Bias Getting in the Way of Your Objectivity?” participants will deepen their understanding of cognitive bias, learn to recognize situations where bias may influence objectivity, and discover strategies to lessen its impact on objectivity.
The presentation will begin with an overview of various types of cognitive bias and how situations can enhance or hinder objectivity. Specific to Internal Auditing we will focus our lens on common assurance methods employed by audit and discover where and when cognitive bias may influence objectivity.
This interactive session will draw on examples from the presenter’s and others’ experiences and encourage the audience to consider their own recent experiences. The examples and self reflection will heighten awareness of the biases that may be getting in the way of adhering to the Internal Audit core principle of objectivity.
At the end of the presentation, participants will leave with a deeper recognition of circumstances and the understanding of why and where biases may show up in assurance methods along with strategies for diminishing their effect on objectivity.
The presentation contributes to this year’s conference theme of Capitalizing on our Diversity, by heightening participants’ awareness as to how thinking processes may close our minds to a differing perspectives.
Internal auditors recognize that diversity of perspective and opinion contributes to new ideas and innovation. Entertaining differing or contrary views is not always easy and can challenge existing assumptions and thought processes. Understanding how we think, and specifically cognitive bias can help us to recognize situations where we have closed our mind to a different perspective.
Participants attending “Is Cognitive Bias Getting in the Way of Your Objectivity?” will heighten their sensitivity to situations and their own responses that may be getting in the way of their objectivity. Internal auditors and leaders will have strategies for adjusting their own response, as well as guiding others to enhance objectivity.
Differing perspectives and opinions often challenges our thinking and requires us to rethink our assumptions and today’s auditor must be diligent in examining their own thought processes to ensure information is collected and analyzed and conclusions drawn with an open mind.