IIA Today May 2010 by The Institute of Internal Auditors

Today A MESSAGE FROM THE INSTITUTE OF INTERNAL AUDITORS

SET YOURSELF APART

ACHIEVE YOUR CERTIFICATION IN INTERNAL AUDITING

4 8 12 14 Vo l u m e 1

Issue 3

May 2010

News from The IIA and the Internal Audit Profession Setting Yourself Apart With IIA Certifications June and July Training Opportunities from The IIA Study Materials to Fit Your Style

Technology for Business Assurance

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Freedom From doubt

WELCOME MESSAGE

Today PUBLICATION DIRECTOR

Melissa Calhoun

Dear Fellow IIA Member, It has been my pleasure serving as your chairman of the North American Board during the past year. In that time, we have worked to further enhance the value you receive as a member of The IIA.

EDITOR

Ross Schmadebeck STAFF EDITORS

Allison Cain Lisa Krist Joe White CONTRIBUTING EDITORS

Margo Baeta ART DIRECTOR

Jon Peters PRODUCTION MANAGER

Lori Shewack IIA PRESIDENT AND CEO

Richard F. Chambers, CIA, CCSA, CGAP IIA CHAIRMAN OF THE BOARD

Roderick M. Winters, CIA

IIA Today is a bimonthly publication produced exclusive for members of The IIA. To learn more about this publication, please visit www.theiia.org/IIAToday. We welcome all comments, questions, and feedback. Please send your message to IIAToday@theiia.org and include your name and contact information.

As an IIA member and volunteer, I recognize and enjoy the valuable benefits this organization brings to the internal audit profession. Whether it’s professional guidance, world-class training, or advocacy for the profession, The IIA provides us with the tools and resources we need to advance our careers. One such resource is The IIA’s professional certifications, including the flagship Certified Internal Auditor® (CIA®) program. There is no better way to build your career and to distinguish yourself as a leading internal audit professional than by obtaining your CIA. In addition to the CIA program, The IIA also offers three specialty certifications, each specifically designed to bolster your career within a specific industry or skill-set. The Certification in Control Self-Assessment® (CCSA®) is designed for control self-assessment and ERM practitioners; the Certified Financial Services Auditor® (CFSA®) measures an individual’s knowledge of, and proficiency in, audit principles and practices within the banking, insurance, and securities financial services industries; and the Certified Government Auditing Professional® (CGAP®) is tailored for auditors who work in or with the public sector, at all levels. I invite you to learn more about The IIA’s certifications by reading this month’s issue of IIA Today, and encourage you to set a goal to obtain an IIA certification in 2010. The IIA’s certification programs have enhanced my career, and I know they will do the same for you. Thank you for the opportunity to serve you, and I look forward to my continued participation with The Institute.

The Institute of Internal Auditors

Sincerely,

Alan Siegfried, CIA, CCSA, CFSA, CGAP Auditor General Inter-American Development Bank

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May 2010

NEWS

PCAOB ISSUES STAFF AUDIT PRACTICE ALERT ON SIGNIFICANT UNUSUAL TRANSACTIONS On April 7, the U.S. Public Company Accounting Oversight Board (PCAOB) issued Staff Audit Practice Alert No. 5: Auditor Considerations Regarding Significant Unusual Transactions.

GUIDANCE AVAILABLE FOR EVALUATING CSR AND SUSTAINABLE DEVELOPMENT The IIA’s Guidance department has released its newest practice guide: Evaluating Corporate Social Responsibility / Sustainable Development. Corporate Social Responsibility (CSR) presents significant risks and opportunities for organizations. Stakeholders expect boards and management to accept responsibility and implement strategies and controls to manage their impact on society and the environment. Undoubtedly, the proliferation of regulation and voluntary standards has made CSR management a complex endeavor. This guide will assist internal auditors in understanding the risks (operational, reputational, etc.) and controls associated with CSR objectives. It aides them in: audit planning, facilitating control self-assessments, verifying results, and consulting with or reporting to their boards and management. Overall, it helps internal auditors maintain the skills and knowledge necessary to understand and evaluate the governance, risks, and controls of CSR strategies. This new practice guide is available as a free download for IIA members at www.theiia.org/Guidance.

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According to the alert, “The purpose of this staff audit practice alert is to complement Practice Alert No. 3 by compiling selected, relevant requirements from existing PCAOB auditing standards regarding significant unusual transactions into one document. While this alert summarizes certain areas with respect to significant unusual transactions, it is not intended to, and does not, serve as a substitute for the relevant standards of the PCAOB. Nor does this alert change the auditor’s responsibilities regarding significant, unusual, or complex transactions.” Internal audit professionals from public companies as well as private- and public-sector organizations, should consider reviewing their organization’s policies on significant and unusual transactions to ensure these types of transactions are properly addressed. For more information about the newest Audit Practice Alert from the PCAOB, visit www.pcaobus.org and review “News Releases.”

PA RELEASED ON CONTROLS TO BE ASSESSED IN AN IA ENGAGEMENT On April 1, The IIA issued Practice Advisory 2200-2: Using a Top-down, Risk-based Approach to Identify the Controls to be Assessed in an Internal Audit Engagement. This practice advisory (PA) provides strongly recommended guidance on using a top-down, risk-based approach to identifying and including in the scope of internal audit engagements the key controls on which management relies to mitigate the significant risks to the organization identified in the internal audit planning process.

NEWS

The new PA notes that adopting such a top-down approach will help ensure that internal auditors are focusing on “providing assurance on the management of significant risks,” as strongly recommended in Practice Advisory 2010-2: Using the Risk Management Process in Internal Audit Planning. The new PA also advises that the internal audit scope should include all controls – entity-level, manual, and partly or fully automated and including controls related to IT – required to provide reasonable assurance that significant risks are being effectively managed. Additionally, the PA states that non-key controls also can be assessed if this would add value to the engagement. IIA Members can access the new Practice Advisory at www.theiia.org/Guidance.

IIARF SEEKING AUTHORS FOR GLOBAL INTERNAL AUDIT SURVEY MODULES The IIA Research Foundation is seeking proposals for the development of five modules that have been identified as critical deliverables of The IIA’s Global Internal Audit Survey – A Component of the Common Body of Knowledge Study. The five modules are: ■■ Characteristics of an Internal Audit ■■ ■■ ■■ ■■

Activity Core Competencies for Today’s Internal Auditor Measuring Internal Auditing’s Value What’s Next for Internal Auditing? Imperatives for Change: The IIA’s Global Internal Audit Survey in Action

NEW THOUGHT LEADERSHIP FROM THE IIA AUDIT EXECUTIVE CENTER A Knowledge Report released by The IIA’s Audit Executive Center paints a cautious yet upbeat picture of the near-term future of the internal audit profession as the world economy begins to recover from the ill effects of the financial crisis and the ensuing deep recession of 20082009. Internal Auditing in 2010: Shifting Priorities for a Changing Environment, used survey responses from 87 Fortune 500 CAEs and 315 internal audit executives of smaller organizations, to conclude that: ■■ Internal audit budgets and staffing levels are

stabilizing after generally declining in 2009, and shortages of some internal audit skills are beginning to appear. ■■ The roles of Chief Audit Executives (CAEs) and their staff in key organization-wide activities are expanding. ■■ Risk management is emerging as the top strategic priority of CAEs and the key focus of internal audit activities this year. ■■ Enterprise risk management (ERM) and the implications of potential adoption of International Financial Reporting Standards (IFRS) will be top CAE concerns for the remainder of the decade. To access the full Knowledge Report, visit www.theiia.org/GAIN and click on “Knowledge Services.”

To learn more and to complete a Request for Proposal, visit www.theiia.org/Research and read the “What’s New” section.

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May 2010

NEWS

792

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CONFERENCE ATTENDEES

KISSIMMEE

FIFTY SIX 25 STATES & PROVINCES FROM

COUNTRIES

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FLORIDA, USA GAYLORD PALMS HOTEL & CONVENTION CENTER

CONCURRENT SESSIONS

GAM

SIX GENERAL SESSIONS

BY THE NUMBERS

TWO THOUSAND AND TEN GENERAL AUDIT MANAGEMENT CONFERENCE

DIRECTO R OF AUD ITING23%

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14%

35%

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S ON

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17%

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14,256 600 14 –16

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GAM2011

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ARIA RESORT & CASINO

LAS VEGAS, NV, USA www.GAM2011.org

A U D I T I N G

THROUGH

LEADERSHIP

Atlanta is the place to be in 2010! The IIA is bringing a world-class conference program to the spectacular Georgia World Congress Center for the 2010 International Conference. The event features recognized keynote speakers including The Economist’s US Economics Editor Zanny Minton-Beddoes, and The Home Depot’s Chief Financial Officer and Executive Vice President of Corporate Services Carol B. Tomé. The conference will also feature program tracks with sessions covering Governance, Risk Management, Fraud Prevention and Detection, Emerging Global Issues, Public Sector, and more. Visit www.iia2010atl.org for program details that will have you saying, “Atlanta At Last!”

Visit www.iia2010atl.org for program details and to register!

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FEATURE STORY

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FEATURE STORY

SET YOURSELF APART ACHIEVE YOUR CERTIFICATION IN INTERNAL AUDITING There has always been an age-old desire to prove yourself. Itâ&#x20AC;&#x2122;s that basic need to stand out from the crowd and earn the respect of your peers. It can be as grand as winning a Nobel Prize or as simple as winning the blue ribbon from your elementary school spelling bee. This desire drives good people to be great, and great people to accomplish extraordinary feats. How do internal auditors prove their worth in their field? The possibilities are endless, and they often begin with certification. IIA certifications are as recognized and respected in internal auditing as any medal or award. They represent a practitionerâ&#x20AC;&#x2122;s commitment, preparation, proficiency, and hard work. Certification defines professionalism and garners respect from the highest levels.

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May 2010

FEATURE STORY

Internal auditors add value to their profession through certification because it requires them to demonstrate their compliance with The IIA’s Standards and their knowledge of The IIA’s International Professional Practices Framework (IPPF). “Certification represents one of the strongest assets we have to drive change across the profession and increase our recognition. We must make it a priority,” says IIA Executive Board Chairman Roderick M. Winters, CIA. He strongly supports certification as a way to achieve your personal potential while enriching the potential of our profession. The IIA offers four certifications in internal auditing. The Certified Internal Auditor® (CIA®) designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their overall competency and knowledge of internal auditing. There are three specialty industry certifications. The Certification in Control Self-Assessment® (CCSA®) designation is an esteemed certification for CSA practitioners. The Certified Financial Services Auditor® (CFSA®) is a respected certification for practitioners of financial services auditing. Finally, the Certified Government Auditing Professional® (CGAP®) certification program was designed especially for auditors working in the public sec-

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tor at all levels – federal/national, state/provincial, local, quasi-governmental, or crown authority. Certified Internal Auditors are an esteemed group of professionals. There are nearly 95,000 CIAs worldwide, and according to the 2009 GAIN Compensation Study, auditors with the CIA designation can earn up to 27.7 percent more than non-certified practitioners. There are 4,435 CCSAs, 7,922 CFSAs, and 2,130 CGAPs. Obviously, earning a CIA or specialty industry designation is a great way to distinguish yourself, command greater career marketability, advance yourself, and boost your earning potential. Winters adds, “Certification demonstrates to management and the board that the holder is knowledgeable about best practices and current industry trends and is dedicated to the profession.” In 2008, The IIA enhanced the certification process to make obtaining your designation easier and more convenient. Potential candidates can obtain information by visiting www.theiia.org/Certification or calling +1-407937-1111. Candidates should download a copy of the Certification Candidate Handbook. The information in this handbook describes the application, registration, and certification processes in a clear and concise manner.

FEATURE STORY

It is important to note there are benefits and special offers available for certification candidates who are IIA members. Some of these include preferred pricing on certification application and exam registration fees; discounts on review materials available through The IIA Research Foundation Bookstore; no charge for Continuing Professional Education (CPE) reporting; access to The IIA’s online auditing standards, ethics, and guidance information; and discounted professional development training from The IIA and your local chapter. Once you have the handbook and you’re ready to employ your IIA membership benefits, it’s time to apply for a certification program. Create a profile in The IIA Certification Candidate Management System (CCMS) and complete the appropriate application form. Upon acceptance, candidates are admitted to the program and given authorization to register for exam parts after they agree to abide by The IIA’s Code of Ethics. The CIA exam consists of four parts and is available in 18 languages in more than 160 countries. Computer Based Testing (CBT) allows you to decide which exam part to take first, where to take it, when to take it, and in what language. CBT's convenient format allows you to complete the process as your schedule permits and has increased the frequency to take the exam throughout the year. The IIA has also made it quicker for you to complete the certification process through CCMS, allowing you to submit your documents, monitor your progress, and view your CBT exam results online. “CBT and CCMS put a lot more control in the hands of the candidate,” says Cyndi Plamondon, CIA, CCSA, CFSA, CGAP, vice president of professional practices. “This has led to a faster pass rate. Candidates can pass the parts more quickly and achieve their personal objectives in a shorter period of time.” One of the many benefits of CBT is exam-takers are given immediate, unofficial results. If you are unsuccessful, CBT gives you a score report that lets you know where your strengths and weaknesses are. This can be very valuable when preparing to retake an exam or part. So now that you’ve committed to earning your certification, chosen which exam part you should take, and registered for the exam, how should you prepare? The an-

“The skills you develop and the knowledge you gain while preparing for the exam are going to help you no matter where you move in business” swer depends on each candidate and their learning style, personal motivation, and the time they can commit to studying. All of the exam parts are challenging and require an application of a comprehensive body of knowledge and not just rote memorization. Candidates are encouraged to review all possible CIA and specialty exam study options and customize the preparation that works best for them. Study materials offered by The IIA allow candidates to choose among self-study programs, instructor-led courses, virtual seminars, and CIA refresher seminars. The IIARF Bookstore also offers print, online, CD/DVD and audio options. Don’t forget to request your member discount! Certification is a challenging task; that’s why adding that designation after your name commands so much respect. Remember, you are investing in yourself and adding value to your organization just by studying for the exam(s). While certification is an impressive milestone, the learning process shouldn’t end there. It’s vital to learn new topics and knowledge in order to stay relevant, current, and reliable. “The skills you develop and the knowledge you gain while preparing for the exam are going to help you no matter where you move in business,” explains Plamondon. “Internal auditors are in the business of helping business stay in business.” Achieving a certification designation means more than a medal or trophy. It’s more than those impressive letters after your name. It’s about credibility, competence, and dedication. It’s about striving to achieve a level of professionalism that others respect. Ultimately, it is up to you to prove your worth. w w w. t h e i i a . o r g

May 2010

JUNE2010

CALENDAR

3 / Webinar

Auditing the ERM Process: What Does it Mean and How is it Done? Visit www.theiia.org/E-learning for details.

6 – 9 / 2010 International Conference Atlanta, GA, USA

Join audit professionals from around the world for two-and-a-half days of general and concurrent sessions led by industry experts, networking opportunities, a hands-on exhibit hall, and more. www.iia2010atl.org

7 – 10 / Introduction to Auditing SAP ERP (IIA/Deloitte) / Boston, MA, USA

This highly-interactive course provides an essential knowledge base as well as hands-on training for auditors working in an SAP ERP environment.

8 – 9 / Computer Assisted-Auditing Techniques (IIA/Deloitte) / Irving (Dallas), TX, USA

This interactive course covers topics including data manipulation and management terms, common data formats and structures, ACL navigation, ACL scripts, and data sampling.

10 / Webinar

Rolling Risk Assessment and Audit Planning Visit www.theiia.org/E-learning for details.

14, 16, 18, 21, 23, 25 / Virtual Seminar Risk Based Auditing: A Value Add Proposition

This instructor-led seminar uses group discussion and case studies to help you align your organization’s strategies, visions, and values with the internal audit process.

15 – 18 / Seminars New York, NY, USA

Join your colleagues in New York for our most popular courses including Beginning Auditor Tools and Techniques, Audit Report Writing, Fraud Investigation Tools and Techniques (IIA/Deloitte), and more. www.theiia.org/Training

17 / Webinar

Implementing an Effective Risk Management Program for Social Networking Visit www.theiia.org/E-learning for details.

21 – 24 / SAP ERP Technical Audit (IIA/Deloitte) / Chicago, IL, USA

The curriculum for this dynamic seminar includes lectures, group discussions, and practical exercises, allowing participants to gain a deep understanding of SAP ERP security and technical concepts.

22 – 25 / Seminars Las Vegas, NV, USA

You and your colleagues will benefit from course offerings including Operational Auditing: An Introduction Through Advanced; Best Practices in Internal Auditing; and more.

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1 / Webinar

Five Ways IA Leaders Ruin Their Careers Visit www.theiia.org/E-learning for details.

8 / Webinar

The Role of Internal Audit in Monitoring Group Health Expenses Visit www.theiia.org/E-learning for details.

12, 14, 16, 19, 21, 23 / Virtual Seminar Operational Auditing: An Introduction

This instructor-led virtual seminar will get you started in reviewing those areas of your organization where the business actually gets done – operations.

13 – 16 / Seminars

Minneapolis (St. Louis Park), MN, USA Register today for Internal Audit Quality Assessment: Performing an Internal or External Review; Sarbanes-Oxley: Assessing IT Controls; and more. IIA Members who register by May 28 save an additional 10%! www.theiia.org/Training

15 / Webinar Deloitte Hot Topic

Visit www.theiia.org/E-learning for details.

19 / Auditing PeopleSoft (IIA/Deloitte) / Boston, MA, USA

JULY2010

CALENDAR

During this seminar you will explore all the functions of PeopleSoft, from its security and workflow functionality to its login and password management features. IIA Members who register by June 4 save an additional 10%!

19, 21, 23, 26, 28, 30 / Virtual Seminar Enterprise Risk Management: An Introduction

Through lectures, exercises, and self-assessment, you will improve your understanding of ERM and the COSO ERM Framework, while getting up to speed on risk management, control, and governance processes.

27 – 30 / Seminars

Boston, MA, USA

Join us in Boston for hands-on training by internal audit practitioners on Auditing Investment Activities, Project Management Techniques: Executing Effective Engagements, and more. IIA Members who register by June 11 save an additional 10%!

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May 2010

STUDY MATERIALS

FIND STUDY MATERIALS THAT FIT YOUR STYLE AT THE IIARF BOOKSTORE There are a variety of convenient and flexible ways to prepare for the CIA exam, and it’s easy to choose one that fits into your busy schedule and matches your study style. These expertly designed choices are adaptable to make your exam preparation easier. Just choose the tools that work best for you! Whether you prefer reading books or listening to audio CDs in your car on your way into the office, The IIARF Bookstore has you covered. With more than 70 individual products, from the world's leaders in exam preparation materials, including The IIA Research Foundation, The IIA’s CIA Learning System, Gleim, Lambers, Wiley, ExamMatrix, and Powers, the IIARF Bookstore is truly your one-stop shop for successfully preparing for the CIA and specialty IIA exams!

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STUDY MATERIALS

GET COMFORTABLE WITH THE EXAM – NEW FROM THE IIARF BOOKSTORE The IIARF Bookstore recently released the updated CIA Model Exam Questions – IPPF Aligned, which is an invaluable tool for helping you to get comfortable with the CIA exam. It has been updated to align with the new Standards released with the International Professional Practices Framework (IPPF). Consisting of 400 sample CIA questions (100 from each exam part), along with expanded solutions, this book can help familiarize you with the content and format of the CIA exam. Each question included in the book is representative of the format, length, and content of the questions that you can expect to see when you sit for the CIA exam. NEW to www.theiia.org/Bookstore is Certified Government Auditing Professional (CGAP) Exam Study Questions. The IIARF Bookstore is the only resource for study materials for all three of the IIA’s specialty certifications, including Certification in Control Self-Assessment (CCSA), Certified Financial Services Auditor (CFSA), and CGAP. These study aids will facilitate your professionalism and competency. Log on to www.theiia.org/Bookstore and select “Certifications” under “Topics” to learn more.

I like reading books

I prefer to study online

I’d rather use computer-based software

I learn best from an instructor

I listen to CDs THE IIA’S CIA LEARNING SYSTEM™ Discover the power of The Institute of Internal Auditors' CIA exam preparation solution. This self-directed, comprehensive program combines printed materials, interactive online learning, and instructor-led intensive review seminars.

GLEIM 13TH EDITION CIA REVIEW PRODUCTS Available separately, four different media versions of this self-study review system can be used at your convenience and pace. These products outline all subject matter tested on each part of the exam.

WILEY CIA EXAM REVIEW PRODUCTS Wiley’s study guide offers a comprehensive four-part exam review complete with practice questions, and Wiley’s software can be used in practice exam mode for a full CIA exam simulation experience.

MYEXAMSCORE™ CIA TEST PREP This online practice test matches the CIA exam’s content and time completion requirement. It also provides a scoring assessment broken out into each major exam category.

EXAMMATRIX® CIA REVIEW TEST PREP AND STUDY GUIDE This state-of-the-art “Classroom for One™” adaptive learning technology manages your studying for you. If your schedule allows you the flexibility to study for 20 minutes a day, this product is for you.

POWERS CIA COMPREHENSIVE REVIEW SET This set of textbooks and CD-ROMs contains comprehensive outline summaries of all subjects tested on the CIA examination. The quizzing software includes preparation sessions and simulated exams.

LAMBERS CIA REVIEW Available on DVD or CD-ROM, this 50-hour video course supplies everything you need to know to pass the CIA exam. Your instructor places emphasis on understanding the concepts and principles crucial to success.

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May 2010

WHERE IN THE WORLD ARE INTERNAL AUDITORS?

International Internal Audit Awareness Month is May 1-31, 2010

DIVERSE PEOPLE. A GLOBAL CONNECTION. With objectivity and insight, internal auditors are providing assurance to organizations in a variety of industries and sectors throughout the world. But alongside this diversity is the connection of being part of a global profession. So internal auditors, show us where you are! To celebrate International Internal Audit Awareness Month, take a photo of yourself with The IIA’s global logo in front of a recognizable landmark, or in an interesting environment. Throughout May, we’ll feature select photos on Facebook and The IIA’s global Web site, as well as in a future issue of Internal Auditor magazine. Visit www.theiia.org/awareness-month for all the details!

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STUDY MATERIALS

THE ROAD TO CERTIFICATION

TRUST THE IIA TO GUIDE YOUR PATH The road to CIA® certification is unique to each candidate. We had an opportunity to interview two candidates to learn more about their journey to become CIAs. Norm Davidson, CCSA, internal audit manager for One Call Medical, has passed two parts of the CIA exam and is hoping to complete the program this fall. Anthony Filomarino, CMA, director of finance for MetLife, is hoping to pass his final exam part this summer. Davidson and Filomarino are in different stages of their careers but share the same goal – becoming a CIA. Davidson, a career internal auditor, firmly believes that, “the CIA says something about the quality and credibility of my work and my department.” Filomarino chose to pursue the CIA, “to make myself

more marketable. But,” he adds, “I’ve gotten much more out of it than that. Studying for the exams has already made me more knowledgeable and effective in my job. I have made process improvements and am confident that my team is following correct procedures.” Both Davidson and Filomarino chose The IIA’s CIA Learning System™ to help them prepare for the CIA exam. In explaining why he chose this avenue to prepare, Filomarino said, “I looked into other review materials, but the Learning System offered the best value and the flexibility I needed. With kids at home and a busy work schedule, the self-study books and online tools allowed me to study whenever I had the time.” Davidson was looking for a review course that offered both self-study materials and live courses. “The quality of materials

and variety of classes offered by The IIA’s Learning System made it the best choice for me,” he said. As their CIA goal approaches, both candidates credit a great deal of their exam success to the CIA Learning System. “The entire course is clear and concise and helps you understand the key concepts while building confidence. It makes reviewing for the CIA exam easier and provides a great experience,” says Davidson. Filomarino feels that the program exceeded his expectations. “I am actually surprised at how much I’ve enjoyed studying. The books are laid-out well and relate directly to the exam. The online questions and study tools not only helped me understand the material but also prepared me for how the CIA questions are asked.”

THE IIA’S CIA LEARNING SYSTEM Interested in learning more about The IIA’s CIA Learning System? You can try the online study tools, read pages from the course materials, or take a guided tour by visiting www.LearnCIA.com/free-demo.

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May 2010

SPECIAL FEATURE

FORMER IIA LEADER JOHN HARMON ENVISIONED TODAY’S IIA FROM CERTIFICATIONS TO GLOBAL RELATIONS: HARMON LED THE WAY

IIA Today recently had the opportunity to interview John E. Harmon, the third administrative leader of The IIA. Harmon was hired as executive vice president (equivalent to the current title of president and CEO) of The Institute of Internal Auditors on June 1, 1972. This was also when The Institute moved its headquarters from New York to Winter Park, FL. His tenure from 1972 until 1978 was an exciting time of growth, progress, and achievement for The IIA. Harmon, who was not an internal auditor himself, provided a different sort of administrative leadership. He was a professional association executive who was an experienced manager of organizations like The IIA. His finesse and expertise perfectly complemented the strong, knowledgeable Board, staff, and volunteers. Together they achieved remarkable accomplishments that remain the cornerstones of today’s IIA. During his first year as The IIA’s leader, the Common Body of Knowledge (CBOK) was adopted. This subcommittee was headed by Robert Gobeil who worked hard to bring this project to life. Then, in 1973, the first CIA Board of Regents was appointed and the Certification program was established largely due to the efforts of William S. Smith. That year 8,000 CIAs were entered into the program. The year 1974 was also a year of “firsts….”

TO READ THE COMPLETE ARTICLE, VISIT WWW.THEIIA.ORG/IIATODAY AND CLICK ON “FEATURED IN IIA TODAY!”

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2010 Outlook The road ahead While it was not too hard to say goodbye to 2009, 2010 will present its own challenges — and ample opportunity. As the recession wanes, recovery probably won’t follow a familiar pattern, and organizations will need to contend with a new and more competitive marketplace. Explore our collection of industry and topical outlooks to learn more.

www.deloitte.com

About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.