Michael Lenard, a Managing Director with StoneTurn, brings over 12 years of experience in compliance, monitoring, audit and internal controls, investigations and risk management. He has supported clients across a variety of industries and previously managed the Internal Audit team of a large, publicly-traded manufacturing corporation.
Michael has assisted companies and attorneys with various compliance matters, internal audits, risk and controls assessments, forensic accounting investigations and regulatory monitorships. Recently, he worked as part of the Forensic Adviser team supporting the U.S. Department of Justice (DOJ)-Appointed Independent Compliance Monitor and Auditor of Volkswagen AG – one of the largest and most high-profile corporate compliance monitorships in history. As part of the VW monitorship team, Michael served in a lead role to design the audit methodologies for, and oversee the related testing of, the design and operating effectiveness of internal controls. Michael’s team also assessed the organization and structure of Volkswagen AG’s Internal Audit function. Currently, Michael is assisting the team serving as Consultant to the Monitoring Trustee for a leading wireless telecommunications service provider as part of a seven-year monitorship mandated by the DOJ.
Michael has expertise assessing existing processes and controls to identify risks and gaps that require mitigation. His work has included assessing bribery and corruption-related risks across the enterprise operations of global manufacturer; designing and implementing internal controls and related monitoring plans across various organizations; and assessing, documenting and enhancing the internal quality management standards of a public accounting firm.
Michael has worked on several forensic accounting investigations which have required detailed reviews and analyses over company financial records, aimed at providing expert consulting services or identifying suspicious activity related to fraud schemes and/or improper accounting practices. His work leading and executing various risk assessments and internal audits helped to identify risks and enhance operating effectiveness in order to improve risk management, control, and governance processes.
Prior to joining StoneTurn, Michael helped manage and expand the Internal Audit function of a U.S.-based manufacturing corporation. He partnered with senior management to improve Sarbanes-Oxley compliance and risk assessment processes, as well as implement new accounting standards. In addition, Michael worked closely with Corporate Security on fraud investigations and due diligence matters.
Earlier in his career, Michael was part of Ernst & Young’s Financial Services Audit practice where he led and performed financial statement audits of mutual, hedge, and private equity funds.
Michael is a Certified Public Accountant (licensed in Illinois) and Certified Fraud Examiner.