January 2015 Your Career Compass

Your Career

Ja n u a r y 2 0 1 5

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CBOK: The Largest Global Study About the Profession is Coming

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Finding and Connecting with Your Future Leaders in Colleges and Universities

QIAL Spotlight How to Retain Talent: The IIARF Job Satisfaction Report

OUR PRINCIPAL PARTNERS MAKE A DIFFERENCE The IIA acknowledges the ongoing support from our Principal Partners, who help enhance the internal audit profession by sharing their resources and knowledge with our most valuable asset – our members. These partners actively serve as members and volunteers within The IIA, participate in the introduction of new guidance, develop world-class training, and show their commitment in many other ways in an effort to advance the internal audit profession.

The IIA encourages you to tap into the expertise of our Principal Partners in 2015!

Your Career

Your Career Table of Contents The Largest Global Study About the Profession is Coming.........................4 IIA News...................................................6 Seminar/eLearning Calendar.................10 QIAL Spotlight........................................12 Fraud.....................................................14 GRC........................................................18 Internal Audit Practice...........................24 IT............................................................30 How to Retain Talent — The IIARF Job Satisfaction Report...........34 Train Your Way........................................38 Local News.............................................40 Certification Corner................................42 Finding and Connecting with Your Future Leaders in Colleges and Universities.....................................44

Learn more about Career Compass at www.theiia.org/goto/CareerCompass.

We welcome comments, questions, and feedback at CareerCompass@theiia.org.

Connect with us on: Twitter Facebook LinkedIn Group www.theiia.org/goto/connect

Dear Friends: As we usher in 2015, we welcome back The IIA Research Foundation’s (IIARF’s) Global Common Body of Knowledge (CBOK) Study. The CBOK Study is one of the most important initiatives we, as a profession, undertake. It not only provides insights into how internal auditing is practiced around the world, but it provides invaluable feedback about how our stakeholders perceive us and how we can better serve their needs. In this issue, you’ll discover what you can expect from the 2015 study and how you can help make it a success.

While you’ll continue to hear more about the 2015 CBOK Study throughout the year, I invite you to explore other upcoming IIARF releases, including Job Satisfaction for Internal Auditors: How to Retain Top Talent, which is featured in this issue. Additional reports slated for release include: ■■ The Politics of Internal Auditing: How Effective Chief Audit Executives Manage Political Pressure ■■ The Many Roles of the CAE ■■ Master Data: Best Practices and New Challenges for Internal Auditors ■■ COSO 2013 in Action: Implementation Examples and Guidelines As The IIARF works to bring these projects to fruition, it’s important to remember that its work is dependent on donations made by individuals, chapters, institutes, and organizations and not membership dues. I hope you enjoy this issue and I hope you will consider donating to The IIARF because when we invest in our profession, we invest in ourselves.

Sincerely, Frank M. O’Brien, CIA, QIAL IIARF President Vice President, Internal Audit, Business Ethics and Integrity, Olin Corp.

The Institute of Internal Auditors 247 Maitland Ave. Altamonte Springs, FL 32701-4201 USA +1-407-937-1100 www.theiia.org All contents copyright ©The Institute of Internal Auditors (IIA) 2015.

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The Largest Global Study

ABOUT THE PROFESSION is

COMING

New Tools and Reporting

HOW YOU CAN TAKE PART

Your opportunity to participate in the 2015 Global Internal Audit Common Body of Knowledge (CBOK) Practitioner Survey is just around the corner. The survey launches February 2 and closes March 27. It is a core component of the Global Internal Audit CBOK Study, the most comprehensive study of the internal audit profession ever conducted that captures the global state-of-the-profession and explores the most relevant issues facing it.

CBOK 2015 co-chair Jean Coroller explains, “CBOK 2015 is a huge, strategic effort for The IIA Research Foundation that is designed to bring the latest thinking on the profession to internal auditors across the globe.” Adds co-chair Dick Anderson, “With that overall objective in mind, we need IIA members to not just be aware of the study, but to actively participate in both the survey and in using the resulting reports.”

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The study has advanced significantly since its inception. A database was built in 2006 allowing the study’s architects to begin trending data across studies. The 2015 study will bring several additional advancements with more user-centric content: ■■ Survey questions have been refreshed and updated.

■■ Survey questions that trend to the 2010 and 2006 studies will be graphically represented in reports so readers get a quick snapshot of key trends over those years.

■■ Survey data will be available for future use by approved IIA institutes, chapters, researchers, and academics.

■■ Report formatting continues to evolve to empower readers to quickly access the information that matters most to them: • 2006: One 300-page report • 2010: Five 100-page reports • 2015: 30-40 reports ranging from 4 to 20 pages in length The study will deliver five core reports on key topics that include the future of the profession, risk, talent, internal audit management, and technology: ■■ Embracing the Future of Internal Audit: 10 Imperatives for Innovation ■■ Who Owns Risk? A Look at Internal Audit’s Changing Role ■■ Core Competency Levels for Internal Auditors Around the World ■■ Maturity Levels for Internal Audit Departments Around the World ■■ Auditing Technology Risks

Each of the core reports will be supported by niche reports, categorized as Infographic, Closer Look, and Fast Facts reports that allow readers to get additional insights on a specific item within the larger topic areas.

Another core component will be the Stakeholder Survey. This survey captures perceptions and best practices of internal audit’s key stakeholders, the audit committee/board members, and members of executive management. In 2010, the survey was limited to North America. In 2015, The IIARF is partnering with Protiviti Inc. to expand this component globally. Brian Christensen, executive vice president, Global Internal Audit and Financial Advisory Solutions Leader for Protiviti and a member of The IIARF’s Board of Trustees, is leading the team responsible for the survey. “We’re looking to not only identify the stakeholder needs of today, but learn how we can serve them tomorrow,” Christensen said. To begin gathering data, the Protiviti team will work with IIA institutes in Japan and France to launch two pilot surveys. “There are a lot of cultural nuances that have to be considered, so we are relying

heavily on our IIA members in each institute to connect us with the right people, to help us navigate those nuances, and to build excitement and support for the survey so that the data we receive is robust and reliable.”

While there will be many changes coming in 2015, the need for participation from as many practitioners as possible remains unchanged.

The 2010 CBOK Study reflected the responses of more than 13,500 internal auditors from 107 countries, capturing 8 percent of The IIA’s global membership. In 2015, the hope is to increase that to 10 percent with a healthy representation from all staff levels, industries, and regions.

Keep your eyes open for your chance to participate beginning in February and encourage your colleagues to do the same. With your support, the 2015 CBOK Study can make history and be the most impactful study to date. For more information on the CBOK Study, please visit the CBOK Resource Center at www.theiia.org/CBOK.

The CBOK 2015 Survey Opens Feb. 2, 2015 • Calling all practitioners to participate in the largest study on the internal audit profession.

• Plan 30 to 60 minutes to complete the survey, depending on your professional role.

• Respond by March 27, 2015.

• Access survey at www.theiia.org/CBOK. First report releases at the 2015 International Conference in Vancouver in July.

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News IIA Fall Conferences Provide Insights Into Emerging Trends and Hottest Topics Canadian National Conference Addresses Reputational Risks More than 700 delegates came together in Ottawa, Oct. 5-8 for an array of exceptional speakers, networking activities, and over 25 exhibitors. Rick Hillier, former chief of defense of the Canadian Forces, kicked off the conference with a powerful message about everyone needing to step up and be a leader when there is a void or a need. Ninety-five CAEs and audit committee members attended a special sold-out event focusing on reputational risk of organizations.

Northeast Regional Conference Delves Into Financial Services, GRC, and CAE Needs More than 300 attendees, volunteers, and exhibitors gave a 92 percent satisfaction rating on the value of training and what they paid for at the Northeast Regional Conference held in Brooklyn, NY, Sept. 8-10. Recognized industry leaders delved into topics such as financial services; IT; CIA review; governance, risk, and control; and CAEs. This successful event laid the foundation for the 2016 International Conference in New York City.

ITAC Tackles SAP, APT, and VB ITAC 2014 welcomed more than 200 professionals from across the country in September for three days of sessions devoted to managing IT risks in today’s information on-demand world. Attendees took a technical dive into SAP security controls and best practices, reviewed the best way to deal with APTs, caught a glimpse into utilizing VB scripting for automated data collection through the eyes of an organization that has already done it, and much more.

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All Star Conference Rallies the Year’s Best Topics/Speakers More than 600 delegates — a record-breaking attendance — helped celebrate The IIA’s 10th annual All Star Conference in Las Vegas, Oct. 28-30, featuring the highest-rated presenters to provide cutting-edge insights on issues impacting the internal audit environment and beyond. Conference delegates were the first to hear about The IIA’s newest member benefit, IIA Career Map™. The two-and-a-half day conference included four keynote sessions and 32 concurrent sessions focusing on topics ranging from Auditors as Leaders to The Psychology of Fraud and Auditing IT Governance.

Your Career

LATEST GUIDANCE RELEASES

Practice Guide: Assessing Organizational Governance in the Public Sector

Recognizing that public sector auditors face unique challenges that require tailored guidance, The IIA released the first International Professional Practices Framework (IPPF) practice guide specifically for government auditors. The guide provides public sector auditors with direction on how to assess governance activities and processes and make appropriate recommendations for improving them.

Practice Guide: Business Continuity Management Business continuity management (BCM) is a risk management approach based on business value.

This practice guide specifically discusses the definitions of BCM and crisis management; the activities that may be performed by internal audit before, during, and after a crisis; and internal audit’s evaluation of key BCM elements.

Global Public Sector Insight: Policy Setting for Public Sector Auditing in the Absence of Government Legislation This report is intended to assist government organizations for which legislation has not been developed in relation to audit activities or is relatively narrow in scope.

It navigates audit practitioners and their key stakeholders in a practical way to develop suitable policies and procedures for the entire organization in the absence of government legislation. Access this guidance at www.theiia.org/guidance.

Career Map Debuts at All Star Conference with a Bang — Thousands of Members Leverage the Free Career Development Tool IIA President and CEO Richard F. Chambers announced the launch of IIA Career Map at The IIA’s All Star Conference. “IIA Career Map provides internal auditors with a comprehensive tool to evaluate their professional strengths and development needs in key areas such as communications and critical thinking, and build a personalized, detailed plan that guides them in reaching the next level in their career,” Chambers said.

The debut of IIA Career Map comes as businesses are relying on internal audit for an increasingly wide array of needs, from emerging risks such as IT and cybersecurity issues to the growing burden of regulatory compliance.

This free online tool provides internal auditors a powerful means to evaluate their professional competencies and plot their careers by creating a personalized learning plan that recommends training, publications, and other professional resources to address proficiency gaps. Thousands of members have enrolled to date and are taking action to develop their plans for 2015.

Start your development plan today at www.theiia.org/careermap.

The IIA’s Audit Executive Center will be releasing a complimentary tool in early 2015 — IIA Career Map: Team Builder™. This tool is designed to help CAEs evaluate staff competencies and development needs. Team Builder also will help identify the skills needed to round out teams, either through recruiting or development of existing staff.

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COSO to Update Enterprise Risk Management-Integrated Framework In October, The Board of The Committee of Sponsoring Organizations of the Treadway Commission (COSO) announced a project to update the 2004 Enterprise Risk Management–Integrated Framework (Framework). The goal is to enhance the Framework’s content and relevance in an increasingly complex business environment so that organizations worldwide can attain better value from their enterprise risk management programs. Get the latest information at www.theiia.org/goto/COSO.

COSO IC-IF Implementation Deadline Passes Dec. 15, 2014, marked the implementation deadline for the 2013 Updated Internal Control-Integrated Framework.

The previous Framework is now considered superseded by the 2013 Framework. Implementation tools and resources are still available through The IIA COSO Resource Center at www.theiia.org/goto/COSO.

New Practice Exams Available for CIA Candidates The IIA has developed new per-part CIA practice exams for candidates to demonstrate internal audit knowledge, assess readiness, and get exposure to the CIA exam format. Questions are based on past CIA exams and are available on a candidate’s preferred timetable. The investment is US$50 per part for a one-time-only exam practice experience. Visit www.theiia.org/goto/practice for more details or to begin.

Extend Your Certification Eligibility Certification candidates who are nearing the end of their four-year program eligibility window now have an opportunity to apply for an extension before their exam parts expire. This extension allows participating candidates who haven’t yet successfully completed their exam(s), or who have been accepted into the program but have not yet taken their exam(s), an opportunity to extend their program eligibility for up to12 months. The cost is US$250 per applicant and applies to all IIA certifications. Visit the www. theiia.org/Certification for candidate eligibility extension information.

IPPF Update to Proposed Changes The IPPF Task Force thanks respondents to the recent IPPF exposure draft. Nearly 850 survey responses and 47 comment letters were received during the exposure period. The Task Force is currently analyzing the results and comments. Plans to finalize recommendations, submit for board review, and the effective date for implementation of approved changes is expected to be communicated in early 2015. Questions, contact IIA-Exposure@theiia.org or visit www.theiia.org/NewFramework.

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LATEST ADVOCACY EFFORTS

Anti-Fraud Collaboration Report Offers Help to Build a Fraud-resistant Organization

A new report from the Anti-Fraud Collaboration examines best practices for fraud deterrence and detection. The Fraud-Resistant Organization: Tools, Traits, and Techniques to Deter and Detect Financial Reporting Fraud offers valuable information about the conditions that might make an organization more susceptible to fraud — and how to mitigate them. You can access and download at www.antifraudcollaboration.org and attend the free Jan. 8 webinar highlighting key findings.

IIA President and CEO’s “Lessons Learned” on C-SPAN.org Recorded by C-SPAN during The IIA Washington, D.C., Chapter’s Government Auditing Conference in September, Richard F. Chambers talks about his nearly 40-year career as an auditor for both business and the government. It’s available online at http://www.c-span.org.

Chambers also recently authored an article on effective risk management and control in NACD’s Director magazine and an op-ed on inspector general independence in The Hill’s Congress Blog.

U.N. Hosts IIA Global Chairman at Oversight Office Anniversary and Speaks at World Congress of Accountants in Rome IIA Global Chairman Anton van Wyk recently was part of a distinguished panel at the United Nations’ Office of Internal Oversight Services (OIOS) 20th Anniversary celebration. Van Wyk was the only non-U.N. executive to participate in the high-level discussion on the OIOS mandate to provide independent and objective internal oversight services to the United Nations.

He also spoke to a gathering of more than 4,000 at the World Congress of Accountants on Nov.12 in Rome as part of an international panel of experts about the critical role audit committees play as conduits among boards, internal auditors, and external auditors.

For more information on all advocacy efforts, visit www.theiia.org/advocacy.

IIRC Partnership Update As a member of the International Integrated Reporting Council (IIRC), The IIA submitted a comment letter on the IIRC’s Discussion Paper: Assurance on Integrated Reporting. In this response, The IIA emphasized internal audit as an obvious choice to provide key forms of assurance. Internal audit can provide the third line of defense in effective risk management and controls for value creation and integrated reporting, inasmuch as it already provides the third line of defense for an organization’s other strategic, operational, and reporting objectives.

For the full response visit: www.theiia.org/advocacy. www.theiia.org

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2015 SEMINAR COURSE MATRIX

San Antonio -TX Mar. 2 - 5

Los Angeles - CA Mar. 24 - 27

New York - NY Apr. 14 -17

Mar. 24 - 27

Apr. 14 -17

Chicago - IL May 11 - 14

Four Day Courses Audit Manager Tools and Techniques Auditor-in-charge Tools and Techniques

Mar. 2 - 5

Beginning Auditor Tools and Techniques

Mar. 2 - 5

Communication Skills for Auditors Leadership Skills for Auditors

May 11 - 14 Mar. 24 - 27

Apr. 14 -17

Mar. 24 - 27

May 11 - 14 May 11 - 14

Mar. 2 - 5

Apr. 14 -17

Analyzing and Improving Business Processes

Mar. 4 - 5

Apr. 14 -15

Assessing Risk: Ensuring Internal Audit's Value

Mar. 4 - 5

Audit Report Writing

Mar. 2 - 3

Core Curriculum–Courses Under Four Days May 11 - 12 May 13 - 14

Auditing Contracts : From Planning to Reporting Building a Sustainable Quality Program

Mar. 24 - 25

CIA Learning System Prep Course, 1-Day Instructor-led — Part 1

Mar. 24

CIA Learning System Prep Course, 1-Day Instructor-led — Part 2

Mar. 25

CIA Learning System Prep Course, 2-Day Instructor-led — Part 3

Mar. 26 - 27

Construction Activity: Audit Strategies

May 13 - 14

Control Self-assessment: An Introduction Control Self-assessment: Facilitation Skills COSO 2013: Implementing the Framework COSO-based Internal Auditing

Mar. 24 - 25 Mar. 4 - 5

Mar. 26 - 27

Apr. 16 -17

Enterprise Risk Management: An Introduction

Mar. 24 - 25

Apr. 14 -15

Essential Skills for Today's Internal Auditor

Mar. 24 - 25

Creative Problem-solving Techniques for Auditors

Financial Auditing for Internal Auditors

Mar. 2 - 3

Apr. 14 -15

Fraud Detection, Deterrence, and Incident Response for Internal Auditors Fundamentals of IT Auditing

Mar. 2 - 3

Lean Six Sigma Tools for Internal Audit Fieldwork

Mar. 4 - 5

Apr. 16 -17

Lean Six Sigma Tools for Internal Audit Planning Operational Auditing: Influencing Positive Change Performing an Effective Quality Assessment

Apr. 14 -15 Mar. 2 - 3

Apr. 16 -17 Mar. 26 - 27

Project Management Techniques Risk Based Auditing: A Value Add Proposition Risk Management Assurance: Developing Your Internal Audit Strategy

May 11 - 12 Mar. 26 - 27

Statistical Sampling for Internal Auditors

May 11 - 12

The Effective Auditor: Understanding and Applying Emotional Intelligence The Social Media Audit: Strategies, Risks, and Controls Value-Added Business Controls: The Right Way to Manage Risk Deloitte Public Offerings - Courses Under Four Days Critical Thinking for Internal Auditors

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Apr. 14 -15 Mar. 26 - 27

Apr. 16 -17

May 13 - 14

Your Career Dallas - TX May 18 - 21

Boston - MA Jun. 9 - 12

Las Vegas - NV Jun. 15 - 18

May 18 - 21

Jun. 9 - 12

Jun. 15 - 18

May 18 - 21

Jun. 9 - 12

Jun. 15 - 18

May 18 - 21

2015 ELEARNING COURSES

Jun. 9 - 12 Jun. 15 - 18

Jun. 17 - 18

Jun. 9 - 10 Jun. 9

Feb. 3–6, March 2–11 COSO 2013: Implementing the Framework

Jun. 10 May 18 - 19

Jan. 13–22, April 14-23 Audit Report Writing Feb. 2–27 CIA Learning System Comprehensive Instructor-led Course - Part 3

May 20 - 21 May 18 - 19

Jan. 5–23 CIA Learning System Comprehensive Instructor-led Course - Part 1

Jun. 11 - 12

Feb. 3–12, April 20–29 Performing an Effective Quality Assessment

May 18 - 19 May 20 - 21

Feb. 9–18, May 19–28 Enterprise Risk Management: An Introduction Jun. 9 - 10

Jun. 15 - 16

May 18 - 19 May 18 - 19

Jun. 15 - 16

Feb. 17–26, April 27–30 Assessing Risk: Ensuring Internal Audit's Value Feb. 23–26, June 16–25 Lean Six Sigma Tools for Internal Audit Planning

May 18 - 19

March 3–26 CIA Learning System Comprehensive Instructor-led Course - Part 2

May 20 - 21 May 20 - 21

Jun. 17 - 18 Jun. 11 - 12

March 18–19 Data Analysis for Internal Auditors March 23–25 Operational Auditing: Evaluating Procurement and Sourcing

May 18 - 19

Access a complete elearning listing at www.theiia.org/elearning May 20 - 21

Jun. 11 - 12 Jun. 15 - 16

May 20 - 21

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QIAL Spotlight QIAL SPOTLIGHT

ALDRIN SEQUEIRA, QIAL Chief Internal Audit Officer Jumeirah Group, member of Dubai Holding Member, IIA–Australia and IIA–UAE

1. What have you gained from this experience of earning the Qualification in Internal Audit Leadership (QIAL)?

The QIAL program is a great platform to assess and recognize experienced leaders (and future leaders) in the internal audit profession. For me, the QIAL program not only assessed that I had a sound knowledge and application of the International Professional Practices Framework (IPPF) but it also tested how I practically applied the International Standards for the Professional Practice of Internal Auditing (Standards) in various scenarios.

2. What are the skill sets you think are most important for an internal audit leader? And how does the QIAL assess those skill sets?

I believe a combination of technical skills, practical experience, and excellent interpersonal and communication skills are important for any internal audit leader. The case studies and panel interviews assess each candidate’s competency in the practical application of technical knowledge under different scenarios.

3. In what ways does the QIAL develop leaders? What defines a great internal audit leader?

The QIAL syllabus specifically covers ethical, organizational, internal audit, and innovation/change leadership to ensure every candidate has the knowledge, skills, and a broad understanding of what is required to head an internal audit function (irrespective of size or specialization), to manage an outsourced/cosourced audit function, and exert appropriate influence across an organization.

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4. How did you prepare for the QIAL (panel interview and case studies)?

I started with the syllabus overview and learning outcomes provided and then researched and read through the suggested reading and reference list. Theory should be combined with practical experience to successfully pass each case study and the panel interview.

5. How does having QIAL set you apart from your noncredentialed peers?

The QIAL certification provides recognition and enhances the status of any senior internal auditor and CAE. To me, it signifies excellence and recognition as it further enhances my status in the field of internal auditing.

Completing the QIAL also provided me with the professional development I was seeking.

6. What advice do you have for other aspiring internal auditors who are seeking this credential?

I would highly recommend any aspiring internal auditor or head of audit to get this credential. The QIAL program is a rigorous program and requires commitment. However, once successfully completed, it will set you apart from your peers.

About QIAL Today, growth and change in the internal auditing field is demanding a new type of leader — one who drives a high performing audit team while delivering value by consistently addressing stakeholder needs, top-down risks, and expectations of an evolving marketplace. The IIA has developed the Qualification in Internal Audit Leadership™ (QIAL™) to support leaders on this journey to be the next generation of visionaries for the profession.

QIAL Eligibility Update Recently, The IIA’s Professional Certification Board approved a reduction in the years of experience an active-status Certified Internal Auditor (CIA) holder needs for certain QIAL pathways. This reduces the “years of experience” requirement to be eligible to certain pathways.

Find out which QIAL pathway you qualify for at www.theiia.org/goto/qial.

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FRAUD According to the ACFE’s Report to the Nations on Occupational Fraud & Abuse, the typical organization loses 5 percent of its revenues to fraud each year. Although it is management’s responsibility to design internal controls to prevent, detect, and mitigate fraud, internal auditors are the appropriate resource for assessing the effectiveness of what management has implemented. The IIA has a host of resources to ensure that you, as an internal auditor, are equipped to do just that.

TRAINING RESOURCES

Onsite Training

Learn more about these courses at www.theiia.org/training.

Get your entire team up to speed on techniques to tackle fraud-related issues. Have our On-site Training team schedule any of the courses on the previous pages or additional courses for your team of five or more at your location.

• Detecting, Preventing, and Reporting Internal and External Fraud • Developing a Fraud Risk Management Program for Your Organization • Evaluating Organizational Ethics • Financial Statement Fraud Detection for Internal Auditors • Fraud Auditing Using ACL • Fraud Awareness for CAEs and Management • Fraud Detection and Investigation for Government Auditors • Fraud Detection and Investigation for Internal Auditors • Fraud Investigation Tools and Techniques • Internal Auditing for Fraud

Data Analysis for Internal Auditors Are you seeking to improve the effectiveness of your audit planning and to ensure whether or not your results can be generalized to total populations? This course provides the opportunity to learn about the analysis of large data sets, particularly how to summarize and display data, and determine the appropriate measures for describing data.

March 18–19, eSeminar June 10-11, eSeminar CPE Hours Available: 8

Fraud Detection, Deterrence, and Incident Response for Internal Auditors For many auditors, management’s anti-fraud expectations exceed the audit team’s capability to deliver.

Result: a challenging gap to fill and, many times, disappointing results. This program shows exactly how to close that gap and learn a comprehensive anti-fraud response that will fit in any business setting, and how to build a tailored battle plan for fighting fraud.

Explore more benefits of On-site Training by visiting www.theiia.org/onsite or contact The IIA’s On-site Training Department by e-mail at GetTraining@theiia.org or call +1-407-937-1388.

May 18-19, Dallas, TX July 16-17, Washington, DC CPE Hours Available: 16

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SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

Your Career

FRAUD eLEARNING

International Conference July 5–8, 2015 / Vancouver, BC, Canada

The IIA’s wide variety of webinars, eSeminars, on-demand self-study courses, and eWorkshops mean you can spend less time traveling and more time learning.

eSeminars

2015 Governance, Risk, and Control Conference (An IIA and ISACA Collaboration)

Mar. 18–19: Data Analysis

August 17–19, 2015 / Phoenix, AZ

June 10–11

Members-only Webinars Members-only webinars offer free CPE opportunities. See the full schedule here: www.theiia.org/goto/MOW: Jan. 20: Industry Outlook July 21: Data Privacy Oct. 20: Financial Statement Fraud

Learn more about these training opportunities at www.theiia.org/elearning.

CONFERENCES Conferences offer a great way to delve into educational sessions focusing on fraud issues with and networking with peers who are facing the same tough challenges.

General Audit Management Conference March 9–11, 2015 / Aria / Las Vegas, NV •

The Role of Internal Audit With Corporate Compliance Imperatives: Auditing Anti-bribery & Corruption Programs

Your Master Key to Career Success – IIA Global Certifications and Qualifications Whether you are mastering the fundamentals of internal audit or moving into audit management, you owe it to yourself and your organization to pursue the Certified Internal Auditor® (CIA®), the only globally recognized internal audit credential and standard for excellence within the profession.

Earning the CIA demonstrates your commitment to the profession and your career. Achieving it will increase your confidence, serve as an example for current or future staff, and build credibility with internal audit clients.

Visit www.theiia.org/certification to review the exam syllabi and eligibility requirements, explore preparation resources, and to start your application or register for the CIA, QIAL, or one of The IIA’s specialty designations.

Gaming Conference April 8–10, 2015 / Las Vegas, NV •

Reading the Players Like a Book

•

Forensic Investigations

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FRAUD BOOKS AND EDUCATIONAL PRODUCTS Bribery: Identify Hidden Risks in Your Organization (eBook) Bribery in business likely predates recorded history and continues to be a pervasive challenge in industries, governments, and organizations around the world. While it is not a new crime, bribery has remained one of the most difficult things for auditors to identify and prevent. Bribery: Identify Hidden Risks in Your Organization is a quickread reference that should be part of every internal auditor’s library to prepare you to combat the issue.

The book provides broad overviews of issues related to bribery, including: • Anti-bribery controls over an organization’s expenditures, revenue, assets, and liabilities.

• Bribes that take place off the books that tend to be difficult to prevent and detect.

• International law and pertinent regulations.

• The risks and related internal controls for bribes that pass through an organization’s books.

Item No.: 1155.ep Member Price: US$35.00 / Nonmember Price: US$45.00

Order your copy through The IIA Research Foundation Bookstore: www.theiia.org/Bookstore

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GUIDANCE RESOURCES Practice Guide: Auditing Anti-bribery and Anti-corruption Programs The IIA’s new Practice Guide, Auditing Anti-bribery and Anti-corruption Programs, offers internal audit practitioners insight on the nature of bribery and corruption in organizations throughout the world. It discusses the current business landscape and stresses that no organization — regardless of whether it is public, private, large, or small — is immune to the devastating impacts bribery and corruption bring.

GTAG 13: Fraud Prevention and Detection in an Automated World This GTAG aims to inform and provide guidance on how to use technology to help prevent, detect, and respond to fraud through a step-by-step process for auditing a fraud prevention program, an explanation of the various types of data analysis to use in detecting fraud, and a technology fraud risk assessment template.

Your Career

FRAUD Practice Guide: Evaluating Ethics-related Programs and Activities This guide strives to put a firm structure around a subject that has traditionally been viewed as too soft, and thereby challenging, to evaluate. A strong ethical climate and an organization’s ability to maintain an ethical culture is the foundation for good governance. A framework for a robust ethics program is included.

Consult these guidance resources, part of the IPPF, at www.theiia.org/guidance.

THOUGHT LEADERSHIP AND RESEARCH Internal audItor

December 2014

INTERNALAUDITOR.ORG

The business-minded Auditor

DEcEmbER 2014

chambers: Invest in Your career Success Driving change Through Innovation The essentials of encryption

Internal Auditor Magazine: “Plot to Defraud”

FUTURE OF THE PROFESSION

The general manager of a real estate development company embezzled nearly US$47,000 Internal audIt: the Year ahead by taking advantage of missing internal controls and his position of trust. Several lessons can be derived from this scheme, including the importance of maintaining documentary review evidence and appropriate segregation of duties. www.InternalAuditor.org

The Fraud-Resistant Organization: Tools, Traits, and Techniques to Deter and Detect Financial Reporting Fraud This report offers valuable information about the conditions that might make an organization more susceptible to fraud — and how to mitigate them. Access now at www.antifraudcollaboration.org.

AuditChannel.tv Watch leading fraud experts share insights regarding current fraud topics: • When the Whistle Is Blown, All Lines of Defense Have Failed • Anti-Fraud Collaboration: An Evergreen Alliance • Closing the Expectation Gap • The Fraudit • And more.

Growing use of analytics and meeting stakeholder expectations top the list of challenges facing the profession in the next 12 months.

Are your skills up-to-date with industry standards? Self-assess your skills today with IIA Career Map. Free for IIA members! www.theiia.org/careermap

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GOVERNANCE, RISK, AND CONTROLS As an internal auditor, you are called upon to assess and make appropriate recommendations for improving the governance process, evaluate the effectiveness and contribute to the improvement of risk management processes, and assist the organization in maintaining effective controls by evaluating their effectiveness and efficiency and by promoting continuous improvement. As the professional association established to support you, the internal auditor, we have developed a host of resources to assist you in achieving those objectives.

TRAINING RESOURCES

COSO-based Internal Auditing

Learn more about these courses at www.theiia.org/training.

This course provides internal auditors an opportunity to deepen their understanding of the COSO internal control and ERM integrated frameworks required to carry out their roles and responsibilities. Through interactive exercises, participants will explore how to leverage the frameworks in their audit process.

Assessing Risk: Ensuring Internal Audit’s Value This course provides practical insights relating to contemporary best practices of risk assessment activities and allows participants to apply what they have learned so they can implement risk assessment activities in their organization. Covers fundamentals and nuances such as audit universe, risk appetite, fraud, and the challenges of implementation. It also addresses skill gaps many internal auditors struggle with such as how to develop their own risk assessment frameworks and how to select or construct a risk ranking system.

Upcoming Offerings: Feb. 17–26, eSeminar

March 4–5, San Antonio, TX

April 27–30, eSeminar

May 13–14, Chicago, IL

CPE Hours Available: 16

Upcoming Offerings: March 4–5, San Antonio, TX

March 26–27, Los Angeles, CA

April 16–17, New York, NY

CPE Hours Available: 16

Enterprise Risk Management: An Introduction Through facilitator presentations, case studies, group discussions, practical exercises, self-assessments, and facilitator feedback, participants will improve their understanding of ERM and the COSO ERM framework, while getting up-to-speed with current issues, challenges, and emerging practices regarding risk management, control, and governance processes.

Upcoming Offerings: Feb. 9–18, eSeminar

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March 24–25, Los Angeles, LA

Consult the course matrix on pages 10–11 for offering dates and locations.

April 14–15, New York, NY

May 18–19, Dallas, TX

May 19–28, eSeminar

Learn more about any of the above courses and register today at www.theiia.org/training.

CPE Hours Available: 16

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The Institute of Internal Auditors

SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

Your Career

GOVERNANCE, RISK, AND CONTROLS Risk-based Auditing: A Value Add Proposition Through case studies, group discussions, round tables, and facilitator presentations, this course will help audit team leaders align their organizations’ strategies, visions, and values with the internal audit process. Participants will come to understand the importance of corporate governance and ERM while learning to identify risks, perform risk assessments, develop a risk-based assurance plan, understand entitywide controls, and plan a risk-based engagement.

Members-only Webinars Save the dates for this line-up of members-only webinars addressing governance and risk-related issues. Learn more about these free CPE opportunities at www.theiia.org/goto/MOW. All members-only webinar topics and speakers are subject to change without notice.

March 19: Quality Assurance & Improvement Programs June 16: Auditing Strategic Risk

Specialty Group Webinars American Center of Government Auditing

Upcoming Offerings: May 11–12, Chicago, IL

March 19: Green Book & COSO

June 1–10, eSeminar

CPE Hours Available: 16

Financial Services Auditor Group Jan. 8: COSO 2013 Update: Where Are You With Your Integration and

eLEARNING

Where You Should Be By Now Feb. 5: Hot Topics in IT March 5: Vendor and Third Party Service Risk Management

The IIA’s wide variety of webinars, eSeminars, on-demand self-study courses, and eWorkshops are available conveniently whenever and wherever you are. www.theiia.org/elearning

eSeminars Feb. 3–6, March 2–11: COSO 2013: Implementing the Framework Feb. 3–12, April 20–29: Performing an Effective Quality Assessment

CONFERENCES Conferences offer a great way to gain additional information to assist you in managing your role addressing governance, risk management, and controls issues. Check out these upcoming sessions at conference events:

Feb. 9–18, May 19–28: Enterprise Risk Management: An Introduction Feb. 17–26, April 27–30: Assessing Risk: Ensuring Internal Audit’s Value

General Audit Management (GAM) Conference March 9–11, 2015 / Las Vegas, NV

March 18–19, June 10–11: Data Analysis for Internal Auditors

•

Risk Management Is Dead, Long Live Risk Management

June 1–10: Risk-Based Auditing: A Value-Add Proposition

•

Auditing Third-party Risk: A Practical Approach

June 15–24: Value-Added Business Controls: The Right Way to

•

Leveraging COSO Across the Three Lines of Defense

Manage Risk

www.theiia.org

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Your Career

GOVERNANCE, RISK, AND CONTROLS Gaming Conference

QIAL

April 8–10, 2015 / Las Vegas, NV •

Internal Controls: A Compliance Auditor’s Best Tool

•

COSO 2013: What Happened?

•

PCI Compliance: Solving It the Right Way

International Conference July 5–8, 2015 / Vancouver, BC

Governance, Risk, and Control Conference (An IIA and ISACA Collaboration) August 17–19, 2015 / Phoenix, AZ

Visit www.theiia.org/conferences for more info.

Today, growth and change in the internal auditing field is demanding a new type of leader — one who drives a high-performing audit team while delivering value by consistently addressing stakeholder needs, top-down risks, and expectations of an evolving marketplace. The IIA has developed the Qualification in Internal Audit Leadership™ (QIAL™) to support you on this journey to be the next generation of visionaries for the profession.

Visit www.theiia.org/goto/qial for more information or to apply.

BOOKS AND EDUCATIONAL PRODUCTS The Balanced Scorecard: Applications in Internal Auditing and Risk Management (eBook)

CERTIFICATIONS AND QUALIFICATIONS CRMA Find the Key to Your Success with the Certification in Risk Management Assurance® (CRMA®) Designation.

The CRMA is designed for internal auditors and risk management professionals with responsibility for, and experience in, providing risk assurance, governance processes, quality assurance, or control self-assessment.

It demonstrates your individual ability to evaluate the dynamic components comprising an organization’s governance and enterprise risk management program and provide advice and assurance around these issues.

The Balanced Scorecard performance management system has become an essential framework for strategy execution throughout the world. Its popularity and effectiveness is what led Mark L. Frigo to refresh his 2002 book. The book provides an overview of concepts and terminology of the framework to begin developing it as a strategic leadership skill, and will help readers to: • Use the Mission-Driven Strategy framework to develop a strategy for internal audit.

• Connect internal audit strategy to enterprise strategy.

• Facilitate continuous improvement in the internal audit function.

Item No.: 1153.ep Member Price: US$35.00 / Nonmember Price: US$45.00

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The Institute of Internal Auditors

Your Career

GOVERNANCE, RISK, AND CONTROLS Mergers, Acquisitions & Sales: How Internal Audit Adds Value and Effectiveness Whether seasoned or a novice, you will benefit from the latest on auditing the mergers, acquisitions, and sales process. This book addresses global best practices providing practical advice and support aids for what can be the greatest strategic risk or opportunity for an organization.

Item No.: 1157

•

Using the Risk Management Process in Internal Audit Planning

•

Assurance Maps

•

Reporting to Senior Management and the Board

•

Governance: Relationship With Risk and Control

•

Assessing the Adequacy of Risk Management Processes

•

Managing the Risk of the Internal Audit Activity

•

Assessing the Adequacy of Control Processes

•

Evaluating an Organization’s Privacy Framework

Consult these guidance resources in the IPPF at www.theiia.org/guidance.

Member Price: US$55.00 / Nonmember Price: US$65.00

THOUGHT LEADERSHIP AND RESEARCH

GUIDANCE RESOURCES

Cybersecurity: What the Board of Directors Needs to Ask

Practice Guides Covering GRC: •

Auditing Anti-bribery and Anti-corruption Programs

•

Assessing the Adequacy of Risk Management Using ISO 31000

•

Assessing Organizational Governance in the Private Sector

•

Assessing Organizational Governance in the Public Sector

•

Auditing Privacy Risks, 2nd Edition

•

Auditing the Control Environment

•

Business Continuity Management

•

Coordinating Risk Management and Assurance

Practice Guides – GTAGs Covering GRC:

Boards need to take a more proactive role in cybersecurity or face the possibility of lawsuits in the event of a security breach. The IIA Research Foundation, in partnership with ISACA, commissioned the research report. It also outlines the NACD’s five principles for the Board, and provides a list of top questions every board needs to ask.

Tone at the Top: Cybersecurity: They’re in. Now what?

For many organizations, it’s no longer a matter of when a cybersecurity breach will occur. It likely already has, but it just hasn’t been discovered, yet.

Access now at www.globaliia.org/Tone-at-the-Top.

•

GTAG 17: Auditing IT Governance

•

GTAG 10: Business Continuity Management

•

GTAG 7: Information Technology Outsourcing, 2nd Edition

AuditChannel.tv

•

GTAG 2: Change and Patch Management Controls

Hear the latest insight on governance, risk, and control: • Auditing at the Speed of Risk • Closing the Expectation Gap • COSO: Helpful Hints on Implementation • And more!

Practice Advisories Covering GRC: •

Board Interaction

•

Linking the Audit Plan to Risk and Exposures

www.theiia.org

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Your Career

Leverage the Insights of

Respected CAEs… The IIA’s Premier CAE Development Program Whether you’re a CAE who has moved up through the audit ranks or one who has parachuted into the role, Vision University (VU) is where your path to CAE success begins.

Our highly skilled and experienced facilitators fully appreciate what’s required of CAEs and understand the unique challenges CAEs will likely encounter, sharing key insights to what makes a CAE successful.

You’ll walk away from VU with tools, techniques, and strategies to implement a clear action plan incorporating the key aspects of the CAE Strategic Framework and: ■■ An Audit Executive Center full-year membership at the Professional level (US$895 value). Check out the benefits of AEC membership on the next page.

■■ A one-year complimentary IIA membership for nonmembers (US$240 value), including a subscription to the award-winning Internal Auditor magazine and accompanying smartphone app.

■■ US$500 gift certificate to The IIA Research Foundation Bookstore.

■■ US$100 off your next General Audit Management (GAM) Conference registration.

2015 Vision University Offerings May 11–14 W Lakeshore Chicago

Sept. 14–17 Renaissance Baltimore Harbor Place Baltimore

Nov. 2–5 Hyatt Fisherman’s Wharf San Francisco

20.5 CPE. Admission is limited to 25 participants and by application only.

To ensure your placement, apply today at www.theiia.org/VisionU or call +1-407-937-1342 for more details.

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Your Career

And Then Get the Support

You Need to Succeed.

An Exclusive Membership Program Designed With The CAE In Mind Your complimentary 12-month membership with a Vision University registration makes you one of more than 700 CAEs worldwide who benefit from the Audit Executive Center’s thought leadership, benchmarking studies, tools, networking opportunities, and more.

This exclusive, membership-based resource empowers its members to perform through delivering unparalleled access to: ■■ A robust members-only website, featuring a growing Knowledge Center of nearly 950 pieces of thought leadership and more than 1,200 tools, templates, and planning resources.

■■ A convenient, economical, and flexible way of connecting with current events, emerging trends, and best practices.

■■ Exclusive peer-to-peer knowledge sharing opportunities including round tables, networking events, and exclusive Center webinars with CPE eligibility.

■■ Coming soon! IIA Career Map: Team Builder™ evaluates the proficiency of your team’s core skills, applies The IIA’s Competency Framework and benchmarks, identifies opportunities, and develops an action plan.

The Center keeps CAEs empowered, connected, and relevant — and better equipped to handle today’s challenges.

Learn more about how the Center can support your needs. Please visit www.theiia.org/cae or contact us directly at cae@theiia.org / +1-407-937-1111.

www.theiia.org

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INTERNAL AUDIT PRACTICE Whether you are just starting your career, coming into internal audit midway through your career, or needing to enhance your skill sets with latest best practices, here are resources to support your internal audit expertise to make an impact and maintain relevancy with your colleagues, superiors, executive leadership, board, and audit committee.

TRAINING RESOURCES

Audit Report Writing

Learn more about these courses at www.theiia.org/training.

This is a hands-on course that focuses on the organization and structure of audit reports, and includes case study activities for practicing the basics of audit report writing. This course provides the foundation for more advanced audit report writing courses.

Analyzing & Improving Business Processes This course provides participants with tools and techniques that can be used in any process analysis engagement and includes opportunities to apply learnings in real-world scenarios. The best way to build business process analysis skills is by doing the work, and this course is full of hands-on applications using case studies and the participants’ understanding of their own processes to do that.

Upcoming Offerings: Jan. 13–22, eSeminar

March 2–3, San Antonio, TX

April 14–23, eSeminar

CPE Hours Available: 16

Auditor-in-charge Tools and Techniques Upcoming Offerings: March 4–5, San Antonio, TX

April 14–15, New York, NY

May 11–12, Chicago, IL

CPE Hours Available: 16

Audit Manager Tools and Techniques Through practical exercises and case studies, participants will learn how to manage the roles and relationships of the diverse parties involved in the auditing process, how to maintain lines of communication with the CAE and executive management, and problem solve while motivating a team and delegating tasks.

Upcoming Offerings: March 24–27, Los Angeles, CA

April 14–17, New York, NY

May 18–21, Dallas, TX

Whether you are a recently promoted auditor-in-charge, just assuming the role, or seeking a refresher, this informative session covers the organizational, time management, and problem-solving skills necessary to manage a successful team. Through the use of a case study that is woven into the course, participants will learn about the roles and responsibilities of an auditor-in-charge for the phases of an internal audit.

Upcoming Offerings: March 2–5, San Antonio, TX

May 11–14, Chicago, IL

May 18–21, Dallas, TX

June 9–12, Boston, MA

June 15–18, Las Vegas, NV

CPE Hours Available: 32

CPE Hours Available: 32

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The Institute of Internal Auditors

SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

Your Career

INTERNAL AUDIT PRACTICE Beginning Auditor Tools and Techniques

COSO 2013: Implementing the Framework

To become a successful auditor, a strong knowledge base and an understanding of basic audit skills are essential. With this program, new auditors, as well as nonauditors with internal control responsibilities, can learn the ins-and-outs of an audit from beginning to end. Through team exercises, group discussion, and facilitator presentations, attendees will gain a foundation of knowledge that will allow them to prepare appropriately for, and conduct, a successful audit.

This course examines how a principles-based approach can be used to design, implement, and evaluate a system of internal controls. You will have an opportunity to discuss the implications that the updated COSO Framework presents to the internal audit profession and to individual internal audit activities. You will also identify opportunities for utilizing the updated Framework in your internal audit process and increase the value of your assurance and consulting services.

Upcoming Offerings: March 2–5, San Antonio, TX

Upcoming Offerings: Feb. 3–6, eSeminar

March 24–27, Los Angeles, CA

March 2–11, eSeminar

April 14–17, New York, NY

March 24–25, Los Angeles, CA

May 11–14, Chicago, IL

CPE Hours Available: 16

May 18–21, Dallas, TX

June 9–12, Boston, MA

June 15–18, Las Vegas, NV

CPE Hours Available: 32

Communication Skills for Auditors Through facilitator presentations, group discussions, case studies, practical exercises, and individual coaching and feedback, participants will learn to see themselves as others see them — in terms of style and the impressions they create — and increase their ability to reach negotiated agreements.

COSO-based Internal Auditing This course provides internal auditors an opportunity to deepen their understanding of the COSO internal control and ERM integrated frameworks required to carry out their roles and responsibilities. Through interactive exercises, participants will explore how to leverage the frameworks in their audit process.

Upcoming Offerings: March 4–5, San Antonio, TX

March 26–27, Los Angeles, CA

April 16–17, New York, NY

June 9–10, Boston, MA

Upcoming Offerings: March 24–27, Los Angeles, CA

June 15–16, Las Vegas, NV

May 11–14, Chicago, IL

CPE Hours Available: 16

June 9–12, Boston, MA

CPE Hours Available: 32

Consult the course matrix on pages 10-11 for offering dates and locations.

Learn more about any of the above courses and register today at www.theiia.org/training.

SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

www.theiia.org

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Your Career

INTERNAL AUDIT PRACTICE Creative Problem-solving Techniques for Auditors

Risk-based Auditing: A Value Add Proposition

Through facilitator presentations, group discussions, practical exercises, case studies, and self-assessments, this course will help participants define creativity and the dimensions of creative problem solving. Experienced facilitators will demonstrate five strategies for creativity and divergent thinking and explain the ground rules for convergent thinking. By the end of the course, participants will know how to jump-start creative approaches to problems and have new, immediately usable tools for logical problem solving.

Through case studies, group discussions, round tables, and facilitator presentations, this course will help audit team leaders align their organizations’ strategies, visions, and values with the internal audit process. Participants will come to understand the importance of corporate governance and ERM, while learning to identify risks, perform risk assessments, develop a risk-based assurance plan, understand entitywide controls, and plan a risk-based engagement.

Upcoming Offerings: May 11–12, Chicago, IL

Upcoming Offering:

May 18–19, Dallas, TX

June 1–10, eSeminar

CPE Hours Available: 16

CPE Hours Available: 16

Financial Auditing for Internal Auditors

Statistical Sampling for Internal Auditors

Taking on such topics as “common recipes for cooking the books,” covering information flow from business process to financial statement, and more, this course will help participants understand how key business processes relate to financial statements, as well as the impact of IT on financial statements.

The course includes different methods of random sampling and nonrandom sampling, explains how to calculate sample size and adjust for population size and resource constraints, and examines the concept of strategic sampling to get the most information for minimum cost — including how to combine results, extrapolate, and what to report.

Upcoming Offerings: March 2–3, San Antonio, TX

Upcoming Offerings: April 7–10, eSeminar

April 14–15, New York, NY

CPE Hours Available: 16

May 11–12, Chicago, IL

CPE Hours Available: 16

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SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

Your Career

INTERNAL AUDIT PRACTICE The Effective Auditor: Understanding and Applying Emotional Intelligence

eLEARNING

Research indicates approximately two-thirds of the difference between top and average performance is attributed to emotional competence. Improve your effectiveness with others by enhancing your emotional intelligence in this hands-on 2-day course.

The IIA offers a wide variety of webinars, eSeminars, on-demand self-study courses, and eWorkshops. www.theiia.org/elearning.

eSeminars Jan. 5–23: CIA Learning System Comprehensive Instructor-led

Upcoming Offerings: May 20–21, Dallas, TX

Course – Part 1

June 11–12, Boston, MA

CPE Hours Available: 16

Jan. 13–22 and Apr. 14–23: Audit Report Writing Feb. 2–27: CIA Learning System Comprehensive Instructor-led Course – Part 3 Feb. 3–6 and March 2–11: COSO 2013: Implementing the Framework March 3–26: CIA Learning System Comprehensive Instructor-led Course – Part 2 April 7–10: Statistical Sampling for Internal Auditors

Members-only Webinars Are your skills up-to-date with industry standards? Self-assess your skills today with IIA Career Map. Free for IIA members! www.theiia.org/careermap

Save the dates for this lineup of members-only webinars. Learn more about these free CPE opportunities at www.theiia.org/goto/MOW. All members-only webinar topics and speakers are subject to change without notice.

Jan. 20: 2015 Industry Outlook with Richard Chambers Feb. 17: Talent Management Strategies

Specialty Group Webinars* American Center for Government Auditing March 19: Green Book & COSO Financial Services Auditor Group Jan. 8:

COSO 2013 Update: Where Are You With Your Integration and Where You Should Be By Now

Consult the course matrix on pages 10–11 for offering dates and locations.

Feb. 5:

Learn more about any of the above courses and register today at www.theiia.org/training.

* Specialty group membership required.

SEMINARS

eLEARNING

ON-SITE TRAINING

Hot Topics in IT

March 5: Vendor and Third Party Service Risk Management

CONFERENCES

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Your Career

INTERNAL AUDIT PRACTICE CONFERENCES

CERTIFICATIONS Your Master Key to Career Success – IIA Global Certifications and Qualifications

Check out these upcoming conference sessions focused on internal audit best practices:

General Audit Management (GAM) Conference March 9–11, 2015 / Las Vegas, NV •

We’re All in This Together: Working with the Audit Committee and the External Auditors

•

Strategy Implementation Capability: The Competitive Edge

•

Audit Committee Reporting: Trends and Best Practices

Gaming Conference April 8–10, 2015 / Las Vegas, NV •

Setting KPI for Internal Audit

•

Lessons Learned From Non-gaming Hotel Internal Audit Departments

•

Top Ten Areas to Target in Your Next BSA Audit

International Conference July 5–8, 2015 / Vancouver, BC

Governance, Risk, and Control Conference (An IIA and ISACA Collaboration) August 17–19, 2015 / Phoenix, AZ

Visit www.theiia.org/conferences.

Whether you are mastering the fundamentals of internal auditing or moving into audit management, you owe it to yourself and your organization to pursue the Certified Internal Auditor (CIA), the only globally recognized internal audit credential and standard for excellence within the profession.

Auditors who specialize can further distinguish their expertise by pursuing The IIA’s specialty certifications and qualifications, including: • Certification in Control Self-Assessment® (CCSA®) • Certified Financial Services Auditor® (CFSA®) • Certified Government Auditing Professional® (CGAP®) • Certification in Risk Management Assurance® (CRMA®) Visit www.theiia.org/certification to start your journey.

BOOKS AND EDUCATIONAL PRODUCTS The IIA’s CIA Learning System This comprehensive and interactive CIA review program teaches and reinforces the entire global CIA exam syllabus in a flexible, on-demand format. It combines printed and eReader materials with online tests and study tools to ensure you’re prepared to pass the CIA exam and are armed with critical tools and knowledge to excel in your internal audit career.

Item No.: 1150 Member Price: US$795.00 / Nonmember Price: US$895.00

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Your Career

INTERNAL AUDIT PRACTICE Become a Strategic Internal Auditor: Tying Risk to Strategy

THOUGHT LEADERSHIP AND RESEARCH

Businesses today are spending more time on strategic issues and seeking more help from those with strategic capabilities. This has created a unique opportunity for internal auditors to help their organizations both manage their risks and achieve their strategic goals.

Internal Auditor Magazine: The Year Ahead

Discover how to: • Stay connected to the business and become involved with more strategic initiatives.

• Get involved earlier in the life cycle of the project or strategic initiative.

• Use ERM to raise risk and strategy questions.

• Use leading-edge risk assessments to gain knowledge for strategic initiatives.

• Identify new skill sets needed to engage in strategic planning.

What are the emerging issues affecting internal audit, and what can practitioners expect in 2015?

Several thought leaders share their views on the current state of the profession and predict the challenges auditors may face in the coming year. www.InternalAuditor.org

Internal Audit Around the World CBOK RESEARCH

Member Price: US$40.00 / Nonmember Price: US$50.00

Internal Audit Around the World taps into the power of The IIA’s Common Body of Knowledge (CBOK) database that was developed in recent years to allow researchers to glean insights from a longitudinal study of the profession. The report reviews the data from both the 2006 and the 2010 CBOK surveys to provide in-depth analysis of the factors and rationale behind the development of the profession and its different facets.

Financial Planning and Budgets: Understanding the Auditing Process

AuditChannel.tv

Item No.: 5033

Financial Planning and Budgets is a comprehensive reference guide designed to help experienced audit managers and internal auditors plan, organize, perform, and report on the financial planning and budgeting processes. A strong risk management capability is important in today’s automated, fast-paced business world. This book discusses identifying key risks in the external or internal business environment of an organization and how they should be mitigated, avoided, or controlled.

Catch the latest insights into internal audit best practices on www.AuditChannel.tv.

• 5 Things Management is Reluctant to Say to Internal Auditors • The Heights and Depths of Transformational Change • No Sour Notes: Being in Tune with Stakeholders • And more!

Item No.: 1158 Member Price: US$55.00 / Nonmember Price: US$65.00

www.theiia.org

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INFORMATION TECHNOLOGY Technology continues to play an ever-increasing role in internal audit as both an audit tool and audit area. Whether you’re looking for the latest guidance on the use of technology or need to sharpen your IT skills, we have a variety of solutions to fit your ever-changing needs.

Keep Your Finger on the Pulse of Technology with The IIA and Deloitte – an IT audit curriculum created specifically for IT pros, IT novices, and everyone in between. These hands-on courses are taught by skilled instructors with real world experience who make today’s technology issues clear. www.theiia.org/training.

TRAINING RESOURCES

SAP GRC Access Control and Process Control

Introduction to IT Auditing Gain an understanding of the ins and outs of information technology as well as baseline knowledge of general computer control concepts. Knowing how information systems impact the audit environment is the key to doing your job well today and achieving greater success tomorrow.

The curriculum includes lectures, group discussions, case studies, and practical exercises, allowing participants to explore the many ways a SAP GRC implementation impacts internal auditing.

Upcoming Offerings: April 14-17, Costa Mesa, CA

This course provides an essential knowledge base, as well as hands-on learning, for internal audit professionals, including information technology auditors working in a SAP GRC environment, as well as those involved in SAP GRC implementation and configuration. Hands-on learning will be conducted with Access Control and Process Control 10.0.

June 23-27, Boston, MA

CPE Hours Available: 32

Upcoming Offering:

Auditing Oracle Applications

May 5-8, Boston, MA

CPE Hours Available: 32

Acquire a solid understanding of how the implementation and use of Oracle applications will impact your organization. This course includes facilitated discussions, and computer-simulated class exercises.

It provides a thorough overview of Oracle security basics, network and operating system security, data conversion and interfaces, and much more.

SAP Implementation and Process Auditing This course covers the structural elements and technical features of SAP ERP, SAP ERP security, the internal control features and functions of the various SAP ERP business processes, and the SAP GRC suite of tools formerly known as Virsa.

Upcoming Offering: April 28 – May 1, Dallas, TX Upcoming Offering:

CPE Hours Available: 32

April 21–24, Chicago, IL

CPE Hours Available: 32

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The Institute of Internal Auditors

SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

Your Career

INFORMATION TECHNOLOGY Fundamentals of IT Auditing

eLEARNING

This course will provide attendees with an introduction to IT auditing, emphasizing the concepts through exercises and case studies. Internal audit professionals will develop knowledge of basic IT audit concepts that can be used to facilitate integrated audit efforts within their organization.

The IIA’s wide variety of webinars, eSeminars, on-demand self-study courses, and eWorkshops mean you can spend less time traveling to training and more time learning. www.theiia.org/elearning.

eSeminars The course will also provide attendees the opportunity to perform an audit of IT applications supporting key business processes, coordinate the assessment of IT risk with the evaluation of IT general controls, and perform a risk assessment and evaluation of controls over end user computer applications.

March 2-3, San Antonio, TX

Apr. 7–10: Statistical Sampling for Internal Auditors

Members-only Webinars Learn more about these free CPE opportunities at www.theiia.org/goto/MOW. All Members-only Webinars topics and speakers are subject to change without notice.

CONFERENCES

CPE Hours Available: 16

Visit www.theiia.org/training for more information on these courses and to register.

Conferences offer a great way to delve into information technology and network with your peers who are facing the same tough challenges:

On-site Training With ever-increasing cybersecurity risks, all internal auditors must be up to date with the latest technology threats and tendencies. Make sure your internal audit group is ready for these challenges with our newest cybersecurity courses: • Cyberaudits of Identity and Access Control Management • Cybersecurity and Audit of Payment Card Systems • Cybersecurity Audits for Modern Web Applications • Auditors’ Guide to Cybersecurity Vulnerability and Penetration Testing Explore more benefits of On-site Training by visiting www.theiia.org/onsite or contact The IIA’s On-site Training Department by e-mail at GetTraining@theiia.org or call +1-407-937-1388.

General Audit Management Conference March 9–11, 2015 / Las Vegas, NV •

Harnessing Technology to Streamline Audit Processes

•

Cybersecurity: Is There a Disconnect Between Internal Audit and Stakeholders?

•

Stakeholder Perspectives on Emerging Technology Risk and Internal Audit’s Role

Gaming Conference April 8–10, 2015 / Las Vegas, NV •

The Risks of Gambling in the Shadows (of Your IT Cloud)

•

Tangling With Technology

International Conference July 5–8, 2015 / Vancouver, BC

SEMINARS

eLEARNING

ON-SITE TRAINING

CONFERENCES

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INFORMATION TECHNOLOGY Governance, Risk, and Control Conference (An IIA and ISACA Collaboration) August 17–19, 2015 / Phoenix, AZ

Visit www.theiia.org/conferences for more information.

GUIDANCE GTAG 4: Management of IT Auditing, 2nd Edition This guide takes into account the latest developments in the IT landscape and empowers CAEs to more efficiently and effectively manage their IT audit work by focusing on three core areas: determining where IT audit resources are needed; accurately evaluating IT-related risks; and executing IT audit work.

GTAG: 17: Auditing IT Governance This guide provides public and private sector internal auditors with the knowledge necessary to fulfill their responsibilities in providing assurance and consulting services for IT governance. It covers the different aspects of governance that should be in place to ensure IT supports the organization’s strategies and objectives, and discusses red flags that might signal otherwise.

Consult these guidance resources, including GTAGs that address IT, part of International Professional Practices Framework® (IPPF®), by visiting www.theiia.org/guidance.

GTAG 7: Information Technology Outsourcing, 2nd Edition This guide will help CAEs and their audit teams determine the extent of internal auditor involvement when IT is partially or fully outsourced in their entities by providing information on the types of IT outsourcing (ITO), the life cycle of ITO, and how internal auditors can approach risk in connection with ITO delivery.

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Are your skills up-to-date with industry standards? Self-assess your skills today with IIA Career Map. Free for IIA members! www.theiia.org/careermap

Your Career

INFORMATION TECHNOLOGY BOOKS AND EDUCATIONAL PRODUCTS DEcEmbER 2014 FUTURE OF THE PROFESSION

Information technology is a highly dynamic, rapidly changing environment. IT auditors are expected to stay current with the latest tools, technologies, and trends. This book is designed to help internal auditors take a step back and understand the general process and activities involved in conducting an audit around technology.

Internal audItor

A New Auditor’s Guide to Planning, Performing, and Presenting IT Audits

THOUGHT LEADERSHIP AND RESEARCH December 2014

INTERNALAUDITOR.ORG

The business-minded Auditor chambers: Invest in Your career Success Driving change Through Innovation The essentials of encryption

Encryption technology is essential to establishing strong security and internal controls Internal audIt: in an increasingly wired and the Year ahead privacy-conscious world. Internal audits of an organization’s encryption practices, policies, and procedures are an important step in assessing its ability to protect critical enterprise data. www.InternalAuditor.org Growing use of analytics and meeting stakeholder expectations top the list of challenges facing the profession in the next 12 months.

Tone at the Top: Cybersecurity: They’re in. Now what?

Item No.: 1070 Member Price: US$60.00 / Nonmember Price: US$70.00

Auditing Social Media: A Governance and Risk Guide If you want your business to stay ahead in the game, this one-stop guide will help you navigate through the maze of risks and governance surrounding social media.

Auditing Social Media explains how your organization can thoroughly ensure it has the adequate measures in place to capitalize on social media while protecting itself from excessive risk.

Item No.: 1081

Internal Auditor Magazine: Encryption Essentials

For many organizations, it’s no longer a matter of when a cybersecurity breach will occur.

It likely already has, but it just hasn’t been discovered yet.

Access now at www.globaliia.org/Tone-at-the-Top.

AuditChannel.tv Catch the latest insight into IT audit best practices on www.AuditChannel.tv • 5 Risks of Cloud Computing • Coming to Grips with Cybersecurity • Keys to the Kingdom: Attack and Penetration Testing • And more!

Member Price: US$39.95 / Nonmember Price: US$49.95

Access hundreds of other practitioner-reviewed educational products at www.theiia.org/bookstore.

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Your Career

In

a good, bad, or recovering economy, the importance of retaining top talent remains a constant.

Understanding the common reasons employees leave helps employers improve their workplace environments and increases the odds that talented team members become long-term team members. To provide employers perspective on the issues and attributes that translate to higher job satisfaction levels and lower turnover rates, The IIA Research Foundation (IIARF) recently released the research report, Job Satisfaction for Internal Auditors: How to Retain Top Talent.

The report’s author, Venkataraman Iyer, Ph.D., CPA, a professor at the Department of Accounting and Finance at the University of North Carolina – Greensboro, says he was driven to complete the study to get some handle on the subject, as there has been very little published on the topic. With 1,600 participants from various types of organizations and positions within the internal audit profession, the report includes several key findings about which factors influence job satisfaction levels, as well as how those factors affect the respondents’ level of job satisfaction.

From “It Pays the Bills” to “It Fulfills Me” The study found that “lower staff levels have lower levels of identification with their employers and their profession.” The importance of this finding is tied to the notion that those who are less invested in the profession and the organization are more likely to leave. So, how do employers turn this higher propensity for turnover around?

For Larry Harrington, CIA, QIAL, CRMA, vice president of internal audit at Raytheon Company and the incoming global chairman of The IIA’s Board of Directors, the answer is simple. “Study after study shows the more engaged your team members are in your organization, the more likely they are to stay with an organization,” Harrington says.

“Building strong relationships with your team members and providing the right coaching and training, that’s what engages people. Good leaders understand that each team member is an individual, so they coach them as an individual and they invest in them personally.”

It’s this concept — if you invest in your team members, they will in turn invest in their role and the organization — that immersed Christina Hardy, CIA, manager of internal audit for Blue Cross and Blue Shield of Nebraska, in the profession. Her department wasted no time in getting all newly recruited team members to a local IIA Chapter meeting and supporting them in

Lower staff ranks have lower levels of identification with their employers and their profession.

terms of professional development.

“The support made us feel like we were always bettering ourselves in some way,” she says. “In my current role, I make sure each new staff member is assigned a more senior staff member as a mentor to help ease the on-boarding process.”

Sonia Thomas, CRMA, director of internal audit at First Command Financial Services, Inc., admits that when she started her career in internal audit 10 years ago, she wasn’t fully committed to the profession.

“When I started it was probably just a job,” Thomas says. “But once the light bulb went on and I started to understand what the profession brings to the table, I was all in. I’m not simply an internal auditor. I’m a business developer and a change agent. I share that perspective with my staff and I think it’s incumbent on management to communicate to each team member specifically how their role adds value to the overall goals of the department and the organization.”

Follow the Solid and Dotted Lines The belief that internal auditors have the power to make a real difference could be affected by the solid www.theiia.org

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10% and dotted lines on the organizational chart. “Chief audit executives (CAEs) who report functionally to the audit committee, rather than to management, are more positive about their workplaces, the report found.

It’s a finding that resonates with Mike Joyce, CIA, CRMA, chief auditor and compliance officer for Blue Cross Blue Shield Association.

Joyce, who currently serves as the senior vice chairman for The IIA’s North American Board of Directors and has more than 30 years of experience in the internal audit profession. “Reporting functionally to the audit committee sends a strong message to the organization that internal audit is important,”

of all respondents indicate a sense of conflict between organizational procedures and their professional judgment as internal auditors.

Joyce asserts. “That in turn allows you to be more effective in your role, which ultimately leads to greater job satisfaction.” It’s something he says certainly rings true in his current position. “I’ve got the independence and the corporate visibility that allows me to be successful in my role.”

A Position With a View In today’s workplace it’s having a position with a view rather than an office with a view that is more likely to entice internal audit professionals to not just arrive, but to stay a while.

The report found that “a higher sense of job satisfaction and a lower turnover intention are associated with organizations that use internal audit as a training ground for management.” Among all respondents, 16 percent worked for organizations that had a policy, official or unofficial, of using internal audit as a training ground for management.

It’s a finding that Iyer says was pleasantly surprising.

“There have been some studies that suggest that it shouldn’t be done, one reason behind that conclusion possibly being that it

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could reinforce the idea of a passthrough profession,” Iyer says. “But in actuality, this study produced the opposite results and showed us that using internal audit as a training ground for management does so many positive things.”

Credentials that Create a Connection Many leaders believe that earning professional designations, such as The IIA’s Certified Internal Auditor (CIA), is not just an opportunity, but a professional responsibility. It’s a belief that helps explain another of the report’s findings: Respondents who are CIAs have stronger identification with the internal audit profession.

Bavan Holloway, CIA, CRMA, vice president of Corporate Audit at The Boeing Company and a former member of The IIA’s North Ameri-

CIA Respondents who are Certified Internal Auditors (CIAs) have stronger identification with the internal audit profession.

Your Career

can Board of Directors, says she felt compelled to earn her CIA designation when joining the internal audit profession four years ago. “I entered the profession after having focused my career on accounting as a partner at KPMG,” Holloway says.

“When I was promoted into this role at Boeing, it was an opportunity for me to demonstrate my commitment to my team members. We talk a lot about functional excellence in our department, and I believe earning your profession’s certifications demonstrates a level of proficiency that speaks to that.”

A higher sense of job satisfaction and a lower turnover intention are associated with organizations that use

internal audit as a training ground for management.

For Laura Soileau, CIA, CRMA, CPA, CGMA, CFE, consulting associate director for the consulting division, Control & Risk Advisory Services at Postlethwaite & Netterville, earning her CIA helped lay the foundation for her career. “I went through one of The IIA’s Internal Audit Education Partnership programs, so before my first day on the job, I had already passed the exam.

As a result, when I started at the organization, I was probably more prepared for my role which I believe was one of the catalysts that allowed me to do other things.”

Internal auditors in organizations that

offer bonuses are more positive about their workplaces.

Competing Perspectives

The Common Denominator

As internal auditors move through their careers, the report suggests there is a chance they will have to resolve competing perspectives.

The report found that “10 percent of all respondents indicate a sense of conflict between organizational procedures and their professional judgment as internal auditors.” The report clarifies organizational-professional conflict as “occurring when an employee wants to follow the standards of his or her profession but feels as if the employer wants him or her to behave in a different way.”

While all of the report’s key findings offer unique insights as to how to retain top talent, the common denominator that emerged among the respondent internal audit leaders was communication and relationship building plays a pivotal role in leveraging these insights. Whether you’re trying to instill a sense of professional or organizational identification with your team members, encouraging them to become certified, or bringing resolution to professional-organizational conflict, it is critical that you create an ongoing and meaningful dialogue with each team member that communicates the value they add to the process.

According to Paul McDonald, senior executive director, Robert Half, how you handle the issue can have a direct impact on retention. “If challenges or barriers to success, such as a conflict between organizational procedures and auditors’ judgment arise, internal audit managers must do everything in their power to help their teams overcome these issues. Go to bat for your employees, removing obstacles and sticking up for them if there is a problem,” McDonald says. “They won’t forget your support and will be motivated to help you and the department succeed. Conversely, if you fail to be there for them, they’ll remember that, too, including when it comes time to decide whether they want to stay with your organization.”

Perhaps Harrington captures it best when he says, “The golden rule is to treat everyone like you want to be treated. The platinum rule is to treat everyone as they want to be treated.

To do that, you have to connect with them personally and understand what matters to and motivates them.”

Download the research report, Job Satisfaction for Internal Auditors: How to Retain Top Talent at www.theiia.org/research.

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TRAIN

When you begin with training from your global association solely dedicated to the practice of internal auditing, add peer-reviewed content developed by subject matter experts, and offer multiple delivery options that are flexible and convenient for your members, the result is an opportunity to train your way. Get familiar with the training options available to you with this at-a-glance view.

YourWAY

COMPARISON OF THE IIA’S LEARNING SOLUTIONS TRAINING METHODS eSeminars

On-site Training

Online

X

You choose location

X

Seminars

Conferences

Vision University

X

X

eWorkshops

Self Study

Webinars

X

X

X

X

X

X

X

X

X

X

ACCESSIBILITY On location

X

X

Course variety

X

X

X

Face-to-face instruction

X

X

X

X X

X

ENGAGEMENT Best practice exchange

X

X

X

Network with other participants

X

X

X

Q & A interaction

X

X

X

X

X

X

X

X

X

X

X

X

X

X

X

SCHEDULING FLEXIBILITY Time bound

X

X

Choose time convenient for you

X

Available around the clock

X

X X

X X X

CONTENT NASBA Compliant

X

X

X

X

X

X

X

X

NASBA and IIA CPE Compliant

X

X

X

X

X

X

X

X

Developed by subject matter experts

X

X

X

X

X

X

X

X

Peer reviewed

X

X

X

X

X

X

X

X

X

X

X

X

X

X

N/A

Customizable Based on internal audit member input

X X

X

X

VALUE Economically priced

X

X

X

X

X

X

Group or other discounts available

X

X

X

X

X

X

Several hour sessions over multiple days

X

X

X

X

Several hour sessions over multiple weeks

X

X

Apple- Mac

X

X

X

Microsoft Windows

X

X

X

TIME COMMITMENT/ COURSE DURATION 1-4 Consecutive day training

X

X

X

X

LEARNING DEVICE X X

Tablet

LIMITED

LIMITED

Smartphone

LIMITED

LIMITED

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Your Career

COSO Internal Control – Integrated Framework: 2013 eBook Item No. 6278.ep Member Price: $126 Nonmember Price: $157.50

Lessons Learned on the Audit Trail Item No. 1152 Member Price: $24.50 Nonmember Price: $34.50

2014

COSO Internal Control – Integrated Framework: Turning Principles Into Positive Action

Management’s Guide to Sarbanes-Oxley Section 404: Maximize Value Within Your Organization

Item No. 1135 Member Price: $60 Nonmember Price: $75

Item No. 1151.ep Member Price: $30 Nonmember Price: $40

CRMA® Exam Study Guide, 1st Edition

Quality Assessment Manual for the Internal Audit Activity

Item No. 1130 Member Price: $75 Nonmember Price: $85

Item No. 1131 Member Price: $215 Nonmember Price: $260

Internal Auditing: Assurance & Advisory Services, 3rd Edition

The Balanced Scorecard: Applications in Internal Auditing and Risk Management

Item No. 1133 Member Price: $140 Nonmember Price: $170

Item No. 1153 Member Price: $40 Nonmember Price: $50

International Professional Practices Framework (IPPF), 2013 Edition

The Internal Auditor’s Guide to Risk Assessment – eBook

Item No. 1127 Member Price: $55 Nonmember Price: $75

l0 BEST SELLERS www.theiia.org/bookstore

Item No. 1134.ep Member Price: $105 Nonmember Price: $125

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Your Career

Local News Dr. Juan Alejandro Jr. Appointed Vice President of Governance and Risk and Chief Compliance Officer at Baylor University

The IIA’s Board of Directors and The IIA’s Publications Advisory Committee.

Baylor University President and Chancellor Ken Starr appointed Juan Alejandro Jr., Ed.D. as vice president of governance and risk and chief compliance officer.

“Dr. Juan Alejandro has done outstanding work for more than two decades as director of internal audit and management analysis, and over the past six months, he has demonstrated valuable leadership in the increasingly critical areas of risk assessment and compliance at the University,” Starr said.

“In addition to his years of experience, Dr. Alejandro has a deep appreciation of Baylor, its history and its mission, and we are pleased that he will serve the University in this vital role.”

Eric Patel, ACL board chairman welcomed the two new advisory committee members saying in a company release, “At every level, ACL is on a mission to transform how software empowers and supports GRC professionals, creating a generation who truly add value and are sought after within their own organization. Carolyn and Inder embody this spirit and I can’t think of anyone better to advise us on this journey.”

Dr. Alejandro joined Baylor as director of internal audit and management analysis in June 1994 to direct a comprehensive program of internal auditing at the University.

He previously served as director of internal audit at the University of Iowa and the University of Texas at San Antonio and has been a member of The IIA since 1993.

Two IIA Members Appointed to ACL’s Board of Advisors Carolyn Saint, CIA, CRMA, vice president of internal audit at 7-Eleven and past North American IIA chairman, and Inder Gulati, the head of internal audit at LinkedIn, have been appointed to ACL’s Board of Advisors. Saint and Gulati, both IIA members, will serve alongside four other board members as an independent source of guidance on strategy, product innovation, and industry expertise for ACL. Saint also currently serves on 40

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Southern New England Chapter Celebrates 60 Years On Sept. 26, 2014, the IIA–Southern New England Chapter celebrated their 60th Chapter Anniversary with an evening of fine dining and networking. From the time of their charter in 1954, the chapter has grown to more than 500 members. IIA Global Headquarters congratulates Southern New England on this momentous achievement, and thanks the chapter’s volunteer leaders and members for making this event a great success.

Your Career

California Students Shine When Faced with Fraud The IIA’s Los Angeles Chapter gave students around the area the opportunity to put their internal audit competencies to the test with its Internal Audit Case Study Competition. Held at the Los Angeles Athletic Club on Oct. 23, 2014, the focus of the competition was the Carolina Wilderness Outfitters Case Study, which created a scenario for a potential material fraud at a fictitious company. Nine teams of students from four colleges/universities presented their case for how they would respond.

The study, inspired by the Harvard Business School case study method, was created by the Anti-Fraud Collaboration. The Collaboration represents the efforts of the Center for Audit Quality, Financial Executives International, The Institute of Internal Auditors, and the National Association of Corporate Directors, organizations that actively engage in efforts to mitigate the risks of financial reporting fraud.

The Anti-Fraud Collaboration’s goal is to promote the deterrence and detection of financial reporting fraud through the development of tools and other resources targeted to the roles and responsibilities of participants across the financial reporting supply chain. This is the second case study it has developed.

After all the teams presented their cases, three winners were selected and honored: First Place: Loyola Marymount University Students: Naomi Domkam, Christopher Kilkuts, Sarah Neel Faculty Advisor: Dr. Mahmoud Nourayi Second Place: University of Southern California Students: Gean Qin, Suyuong Min, Julia Lee Faculty Advisor: Professor Rose Layton

Third Place: California State University of Los Angeles Students: Ryan Archuleta, Yun Ha Park, Calvin Lam Faculty Advisor: Professor Canevari Students, judges, and event organizers all walked away winners as the case study served to establish a dialogue about what audit committees, financial executives, and internal and external auditors could do to mitigate the risk of fraud. It’s a discussion the Collaboration hopes will continue with the help of supporters like IIA–Los Angeles.

Have News to Share?

As an organization comprising more than 180,000 members globally, The IIA wants to share the achievements, accolades, and initiatives of our members and chapters. From a member’s promotion to a great chapter program, we want to hear about it and share it through Your Career Compass, IIA Connection, and social media.

Submit at www.theiia.org/newsletter-submission-form.

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CERTIFICATION Corner CIA PROFILE

MIN LI CHAN, CIA, CRMA Manager, Business Risk Services Mid-Tier Accounting Firm IIA–Singapore

1. What prompted you to become certified?

As someone working in the professional services industry, being professionally certified adds credibility to my work. In addition, as I move up the ranks within the firm, I am expected to become certified.

2. If you hold multiple IIA designations, what order did you earn them in and why?

My first IIA designation was CIA followed by CRMA. A large part of my work involves the provision of internal audit services. In recent years, there has been increased interest from owners and management of businesses in risk management. When The IIA launched the CRMA certification in 2013, I took the opportunity to become certified in the field of risk management assurance to gain knowledge and insights in the risk management field.

3. Did your organization fund your exam fees or preparation materials? If yes, was it the corporate culture or did you have to sell the value of certification?

I paid for the exam fees and preparation materials.

4. How many of your colleagues are certified?

There are at least two colleagues who are certified.

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Your Career

5. How does having an IIA certification set you apart from your non-certified peers?

Holding IIA certifications signals to others that not only should I be familiar with the International Professional Practices Framework, I also should be technically sound.

6. How did you prepare for the exam?

The Gleim Review books were useful in my exam preparation. Of course, having a strong desire to pass the exams and earn the certifications definitely helped along the way.

I cannot overemphasize the importance of the internal audit experience I had gained in helping me during the certification process.

7. How has your certification helped your career?

As my name starts to appear in business proposals for risk advisory services, clients feel more confident in my ability to be their service provider when they see my certification.

As I still have a long career path ahead, having the certifications will definitely unlock opportunities as they arise.

8. What advice do you have for others who are seeking certification?

I started the certification process by taking Exam Part 3, as this part is the most technical and, therefore, the most difficult among the three exams needed to obtain the CIA certification. I knew that once I passed Exam Part 3, I would have the confidence to pass Parts 1 and 2.

If you are keen to make internal audit as your career, obtaining the CIA certification is a must.

Min Li Chan is a manager with the Business Risk Services division of a mid-tier accounting firm in Singapore. Her career has focused on the provision of business risk advisory services to listed companies and other services including internal audit, risk assessment, and reviews on the control environment.

Min started her career after graduation as an audit associate with a Big Four accounting firm. After leaving that organization, an opportunity arose to join a mid-tier accounting firm to provide internal audit services to clients. Armed with minimal knowledge of internal audit back then, she took the plunge and has not looked back.

She also had a short stint as a risk specialist at the sales and marketing arm of a polyolefin manufacturer where her main role was to facilitate the risk management process across the organization.

Min received an award from The IIA for earning the highest CRMA score during the 2013 exam year.

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Your Career

Finding &

Connecting with Your Future Leaders in Colleges and Universities When you picture a large group of college students gathering in Florida you probably envision beach volleyball or sunbathing. However, when more than 146 top graduating students, educators, companies, and other leaders convened in Orlando last September for The IIA’s 8th Annual Internal Auditing Education Partnership (IAEP) Leadership and Networking Retreat they had far more ambitious plans for their stay. The three-day event grows in popularity every year for good reason; students gain realworld skills and employers connect with top student talent.

It’s the annual crescendo of The IIA’s IAEP program, which works year-round to help colleges and universities worldwide build awareness of and develop curriculum for the internal audit profession. With 41 participating institutions, it has become the gold standard for internal audit education, helping to fill the

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Your Career

Supporting Future Talent One Donation at Time

pipeline with competent internal audit professionals ready to hit the ground running. Its initiatives are made possible through donations to the Internal Auditing Academic Advancement Fund (IAAAF).

Awareness building also comes from “on the ground” supporters like Leon Sheffield, CCSA, CRMA, CISA, CFE, IIA–Washington, D.C., chapter president and manager of internal audit for the Association of American Medical Colleges. He says connecting with the student population is a natural focus of the D.C. chapter, because more than 300 of its 1,400 members are students.

“And not just first-time students.

We have a heavy concentration of working professionals who are taking their education to the next level.”

Sheffield says.

The IIA–DC chapter took it to the next level with the first tri-chapter student awareness event. Hosted by the IIA–DC, IIA–Baltimore, and IIA–Northern Virginia chapters at the University of Maryland in late September, the event was designed to make students aware of career

opportunities within the profession and the resources offered by The IIA and to connect them with leading local employers. It included a general session, lunch, four break-out sessions and an exposition of local employers. “It was like watching a light bulb go on with many of the students,” Sheffield says. “To see their faces as they discovered the limitless possibilities within internal auditing was invigorating.”

For chapters whose academic outreach efforts are still in their infancy, Joe Keating, managing director for KPMG’s Northeast Service Line Leader and an IAAAF Board of Directors member, recommends starting by visiting the Academic Relations section of The IIA’s website. It provides an overview of the IAEP program and all participating schools, as well as chapter resources to build awareness and recruit students. “We recruit heavily from Bentley University, an IAEP school in our area, so our firm always has a presence at its student nights,” Keating says. “However, we also offer to serve as guest lecturers and we invite faculty to attend our seminars so

Internal audit employers consider recruitment vital to the success of their departments. To help fill the pipeline with graduates ready to hit the ground running, The Internal Audit Academic Awareness Program and the Internal Auditing Education Partnership program were created to support institutions of higher education in creating stellar learning opportunities for those interested in a career in internal auditing. Learn more about the student talent/programs and make your donation today at www.theiia.org/IAAAF.

Meet Internal Auditing’s Future Each month, The IIA will feature an emerging talent that is rising in the academic arena and will be joining the internal audit job force soon. www.theiia.org

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program at Seattle University. It’s a program that is on track to become an IAEP Center of Excellence in less than five years. “I’m a Puget Sound Chapter board member and we had a goal of reconnecting with the academic community,” Vincenti says. “Seattle University’s business school quickly became very passionate about the profession and what it can do for the business community.” This enthusiasm culminated in program development that was so well received that the school had to add another class to accommodate the demand. they can take that information back to the classroom.” KPMG, one of the IAAAF’s biggest supporters, uses this win-win combined approach — which can be used by any chapter — to reach out to the university throughout the year.

It was reaching out to the local university that led Dominique Vincenti, CIA, CRMA, vice president, Internal Audit, for Nordstrom and an IIA Academic Relations Committee member, to help expand the IAEP

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Vincenti, who credits the Seattle University team for the rapid advancement of the IAEP program, sources all of her interns from the university’s IAEP program. “We get the crème de la crème and each of our interns secures a job before the end of the internship. I believe this is because they bring the advantage of having a broader understanding of what running a company is all about, what governance is, and how all the pieces come together.”

2014 IAEP Leadership and Networking Retreat Sponsors Gold Partners: Deloitte & Touche, LLP Liberty Mutual Insurance Group The Vanguard Group Silver Partners: Allstate Insurance Association of Fundraising Professional – Central Florida Chapter Audimation Services Raytheon Company Southwest Airlines TIAA-CREF Bronze Partners: Microsoft Corporation Portland General Electric Company

Regardless of their role, everyone shares the same motivation for reaching out to the student community — evolving the profession.

“It’s about stewardship; leaving something better than you found it,” Keating says. “I’m nearing the end of my career, so I want to leave internal auditing at a place that allows the younger generation to take over.” To that end, Keating says that reaching out to students is one part of it and donating to the IAAAF is the other component. “If you want excellence, there is cost and you have to be willing to invest in the profession.

By donating to the IAAAF, you are doing just that.”

Start your journey today.

Whatever your career aspirations, you can create your route with the IIA Career Map. Chart your own career map today at www.theiia.org/careermap. It’s free for IIA members!

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IIA

Audit Group Membership Join. Save. Succeed.

Strengthen your entire team with an IIA Audit Group membership. Organizations with as few as two auditors can save.

“An IIA Audit Group membership has provided me and my audit team access to cutting-edge training and educational resources in one place with huge savings.”

Maticia Sims, CIA, CRMA

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Chief Audit Executive Blue Cross Blue Shield of North Carolina IIA Group Member Since 2006

To learn more about an IIA Audit Group membership go to www.theiia.org/goto/group.