Mark Wayman, 2014 40 Under 40 Honoree

What are the key areas of your firm that have seen the greatest change/challenge in workflow over the past few years? (Or, what are the key challenges you see firms facing?)

From an internal audit perspective, I believe there is a shift in the type of services that internal audit departments are providing to their customers. Internal audit departments are focusing more on value added, risk based projects that really impact their organizations as opposed to the traditional audit planning and typical internal audit type work. There is an awareness that internal audit needs to address their customer concerns in a quicker, more efficient way that will deliver more impactful results with less resources.

To what extent have you and your practice/company embraced cloud computing?

Our company continues to review the costs and benefits of cloud computing and may seek to utilize the cloud more as it becomes more commonplace in the industry.

In what ways have you contributed to your firm/company to make it a better place?

Our internal audit department continually seeks to identify projects that will bring the most value to our stakeholders. We’re non-traditional in that regard and I believe this has led to a stronger business relationship between internal audit and the business.
 
In what ways do you participate in either the professional community or your local community to help others?

On a personal level, my family volunteers for certain church related events and we also volunteer with an annual charitable 5k race. On a professional level, I’m actively involved with the IIA and continue to expand my role with my local chapter.

What major changes do you foresee in the accounting profession of the near future (3-5 years)?

I believe the profession will address emerging risks more, such as the use of big data and social media by clients. In addition, the domestic and global risk landscape is ever evolving, so I believe firms will be focused on partnering with clients to help drive controls, processes and structure that will help mitigate key risks, such as compliance and regulatory risks.

How do you see yourself participating in shaping the future of the accounting profession?

From an internal audit standpoint, I’ll continue to volunteer through the Institute of Internal Auditors, hoping that my involvement will help drive increased awareness and education of internal auditing, improvement and evolution of auditing methodologies and increased collaboration and networking within the industry to ensure auditors continue to meet and exceed stakeholder expectations.

What is your career philosophy?
It’s pretty simply actually. A few key takeaways from my career have always been continuous learning and development, lead by example and show genuine care for your team and employees. A happy, hardworking and knowledgeable team is all any people manager could ask for, and can lead to success anywhere.
 
Not including your current employer, what company do you most admire and why?
I admire any employer that can grow profitability and retain happy, hardworking employees. There is such a balance between making a dollar and keeping employees happy, which usually involves competitive compensation, flexibility and other perks. With social media, it’s so easy for current and former employees to provide an honest picture of employers, and employers will have to evolve with the changing workplace to ensure they attract and retain top talent.

Describe one person who has been an important mentor to you and how that person helped change your life.
I’ve been fortunate to have a few great mentors in my professional life. Each displayed certain leadership characteristics that everyone wants: honesty, willingness to help, open door policy, personable, they supported learning and development, etc. But, what they have taught me most is that a leader puts the team first. It’s not about titles, money, office location, etc. All of my mentors were team oriented leaders, and most importantly, their teams enjoyed working for them.

 

Read more about this year’s 2014 40 Under 40 honorees.