Proud to be an Internal Auditor: shortly before his untimely death, the president of the IIA reflected on his term in office and his expectations for the future of the profession

Internal Auditor, April, 2004 by Michael Barrier

WILLIAM G. BISHOP III, CIA, DEVOTED A MAJOR portion of his working life to the profession of internal auditing--and he was proud of it. He worked long hours to grow the profession around the globe and to help elevate it to the stature it enjoys today--well-respected and well-positioned in the business environment. Much sooner than justice would dictate, Bill Bishop passed away March 7, leaving behind a professional legacy of respect and influence among those of many cultures he supported during his extensive career. Tirelessly, he traveled the world giving speeches to large audiences and consulting in small groups with governments and other stakeholders, touting the value of internal auditing. Almost anyone who had ever heard Bishop speak will remember his insistence that his internal audit audiences rise and loudly declare with him, "I'm proud to be an internal auditor."

The capstone of Bishop's professional career was his 13 years as president of The Institute of Internal Auditors Inc. (IIA). "I love this job and what I do," he said explaining his decision to retire in September. "If I didn't want to just visit the grandkids and do some traveling, I'd stay with it." Although unfairly he won't get the opportunity to fulfill that dream, his last working years were spent in what he called "a perfect niche" for him: "I get to work in the profession, to interact with my peers, and to follow the issues. What could be better?"

A native of Chattanooga, Tenn., Bishop graduated from the University of Tennessee with a degree in accounting and attended graduate school in finance at the University of Detroit. After serving two years in the U.S. Army, he joined Ford Motor Co. in 1964, where he served as manager of North American auditing, manager of supplier auditing, and manager of European auditing, based in the United Kingdom. Twenty years later, Bishop left Ford to become vice president and general auditor for American Express Co. Prior to accepting the position at The IIA in 1992, he moved to Shearson Lehman Brothers Inc. in New York City, where he directed a worldwide group of 90 auditors.

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An active member of The Institute since 1982, Bishop was instrumental in helping to produce The Committee of Sponsoring Organizations of the Treadway Commission's land-mark guide on internal control, Internal Control--Integrated Framework. As president, he represented The IIA with an intricate knowledge of the profession, as in his testimony before special committees of the U.S. Securities and Exchange Commission (SEC) and the New York Stock Exchange. Over the years of Bishop's incumbency, The Institute's head-quarters' staff grew from 70 to 110, an expansion necessary to handle the rise in membership from more than 44,000 to just under 95,000. During his tenure, the number of annual conferences increased from five to a high of 14, seminars jumped from 17 to nearly 50, and the Certified Internal Auditor (CIA) program now boasts more than 30,000 designation holders.

Bishop had planned to retire in September to devote the full measure of his formidable energy to his extensive family, his church, and his several other passions. In what was supposed to be his retirement interview, he just weeks ago reflected on his time in office at The IIA, on the state of internal auditing, and on the challenges and opportunities that await not only his successor at The Insitute but also the profession he so loved.

If you were given the opportunity to live your life again knowing what you now know about internal auditing, would you choose to become an internal auditor again?

Without hesitation; the rewards of this profession far exceeded my imagination. I started at Ford as a cost-and-financial analyst and moved to the internal audit department, thinking it would be a pass-through stint. It didn't take long for me to realize that I left a small division where I crunched numbers and had moved to a department that gave me access to all the company operations, from engine plants to financial services. When the opportunity to go back to my old division came around, I turned it down.

I now know that being an internal auditor develops you as a whole person and gives you the chance to learn new things every day. I found it to be very rewarding because of the completeness of the job. I developed my managerial and communication skills with each new position. As I progressed up through the managerial ranks, I interacted with and managed more and more people, and I influenced many of the major decisions that were made within the organization. I interfaced directly with senior executives, got to know them, saw their operating styles, and assisted them in many ways. I criticized them in some ways, too.

Who had the greatest influence on you as an internal auditor and leader of the internal audit profession?

Internal auditing was part of the finance staff at Ford, and finance was a very high-powered group within the company. The chief financial officer at the time--Ed Lundy--was one of the original Whiz Kids--the group that transformed Ford after World War II, led by Ford's then-director, Robert McNamara. Lundy had established an environment among Ford finance managers that was demanding. I learned to be thorough, analytical, and prepared and to communicate clearly. In addition, there were many opportunities to interact with executive management. I think that training has certainly influenced my style.