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What Value Do You and Your Audit Department Deliver?
Is internal audit a respected function within your company? Do you have the support of the audit committee? What do your stakeholders think of internal audit? What is the perception of the value of your work? When your quality assessment review was completed, how were you rated? Do senior management and your audit clients in the business rely on you for consulting and governance advice?
If your answer to any of these questions is less than positive, you have an opportunity to advocate for internal auditing. May is Internal Audit Awareness Month, which provides an opportunity for you to look for advocacy opportunities within your company and within the community. The IIA defines “advocacy” as “instilling pride in the internal audit profession, encouraging change, and building relationships with organizations and stakeholders that impact the profession globally.”
So what can you do to promote the internal auditing profession? - Perform your audit responsibilities competently by following The IIA’s International Professional Practices Framework.
- Work with your chief audit executive to build awareness about the value of the internal audit function in your workplace.
- Create a marketing plan to increase awareness of your role. You can publicize your message on pay stubs, the company website, or by offering a “lunch and learn.”
- Leverage your time with audit committee members and help educate them about the value of internal auditing outside of typical assurance work.
- Present at college campuses or participate in a panel discussion to let students know that internal auditing is a great career option.
- Volunteer with Junior Achievement, which helps educate K-12 students on ethics, integrity, corporate accountability, and financial literacy.
Advocacy is one of the main objectives of The IIA’s strategic plan. This includes advocacy efforts by each of us, efforts at the regional and national level with governments and regulatory bodies, and global efforts with international associations. Increasing the recognition of internal audit’s value is good for each of us from a career perspective, and allows us the opportunity to better contribute to our organization’s success. Feel free to visit The IIA’s website, which has a number of tools and tips for elevating the status of our profession. “A cornerstone of strong governance, internal auditing bridges the gap between management and the board, assesses the ethical climate and the effectiveness and efficiency of operations, and serves as an organization’s safety net for compliance with rules, regulations, and overall best business practices.” (The IIA) With this in mind, who wouldn’t want to support the internal audit function when it is executed correctly by professional, competent people? By Mike Halbach, TCIIA Chapter President, 2010–2011 |
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Service Recognition for Doug Vickers, District Representative  The Twin Cities IIA Chapter and the other chapters of Midwestern Region, District 4 would like to jointly recognize and thank Doug Vickers for his service as our District Representative over the last four years. Doug has served two consecutive two-year terms representing our district. During his tenure, Doug provided leadership and guidance to our Chapter, conducted district leader workshops, assisted in planning the annual Leadership Conference, and served on the Chapter Relations Committee of North America. Prior to serving as our District Representative, Doug served the Twin Cities IIA Chapter as the Vice President of Roundtables from June 2005 to May 2007. Before moving to the Twin Cities from New Orleans, Doug served on the Board, and was the District Director and Regional Director for the South Region. Doug holds his CIA, CCSA, and CFSA certifications. Doug will conclude his service at the IIA Leadership meeting in April. Please join us in recognizing Doug by extending your thanks to him for his efforts. By Mike Halbach, TCIIA Chapter President, 2010–2011 and Terrence Schwagel, TCIIA President-Elect, 2010–2011 |
Academic Outreach Update The Chapter continued its active partnership with three institutions: The University of Minnesota – Twin Cities, the University of St. Thomas, and St. Cloud State University. Visits are planned with representatives of two other institutions, and we have awarded two $500 scholarships to date.  The Twin Cities IIA Board of Governors has recommended that State Cloud State University be considered for The IIA’s Academic Education Partnership Program (IAEP). To become a member of this program, colleges must include courses related to internal auditing in their core curriculum and have strong a commitment from faculty and university administration. St. Cloud State representatives are completing a formal application for the IAEP to be submitted to The IIA for consideration. Currently, there are only 39 universities world-wide that have been designated as IAEP partner institutions and none in our region, so this will be an important milestone once completed. Janine Quitter and staff from Ecolab discussed internal auditing during a class at St. Cloud State late last year, and Ryan Verstraete will be making a presentation to their Accounting Club next month. We have been active advancing our relationship with other institutions as well. A panel discussion on current themes in governance, risk management and internal controls was held in December for Larry Kallio’s internal control class that is part of the Master of Accounting program at the University of Minnesota’s Carlson School of Management. Chapter participants in this event included Troy Duncan, Linda Gilligan, Ralph Herda, Beth Buse, and Jim Van Houten, a member of Beth's governing board. It was a great opportunity for students to hear a variety of perspectives on these topics from the CAE, CFO, accounting services and a board member! We have an active group of CAE advocates for the University of St. Thomas: Phil Popehn, Abby Grenfall, and Leanne Thyken have been working with Professor Diane Matson and the student president of the Accounting Club. They made a presentation last month to the Accounting Club and received very positive feedback from the students. The Twin Cities Chapter will again sponsor the Minnesota CPA’s Minnesota Council of Accounting Educators Conference taking place on April 7-8 at the Crown Plaza West in Plymouth, Minnesota. This conference brings together accounting professors for an evening social and a day-long conference on relevant topics. Linda Gilligan will address the conference to discuss internal auditing as a career path for students and The IIA’s Academic Education Partnership Program.
By Linda Gilligan, TCIIA Academic Relations Committee Co-Chair, 2010-2011
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 CPE Reporting Deadline Approaching on May 31st
It is time to report the Continuing Professional Education (CPE) hours required to keep your IIA certifications active. The deadline for CPE reporting is May 31, 2011 for IIA-certified professionals whose membership or customer identification number ends with an odd number. If you fail to meet the CPE requirements by the deadline, you will automatically be placed in inactive status and may not use your designation and may not receive further communications from the Twin Cities IIA. Reporting Process To report your 2011 CPE for the 2009 and 2010 calendar years, please fill out the online CPE reporting form by logging into your Certification Candidate Management System (CCMS) record and accessing the “Complete a Form” link. The two statuses for reporting (practicing and non-practicing) are based on your work status, and you must meet the requirements for the applicable status in order to report your CPE hours for that status. If you hold more than one certification issued by the IIA, you can use the CPE hours earned for one designation towards your other designations; however, you must submit a separate CPE report for each designation. IIA certification holders who are not members of The IIA are also required to submit a $100 reporting fee per certification. If you are a member, this fee is waived. Maintaining Records Please remember that it is your responsibility to ensure that all CPE information reported is correct and to maintain all supporting documentation regarding your CPE for at least three years after the reporting deadline. The IIA may request copies of your supporting documentation to determine CPE compliance. Additional Information For additional information on CPE reporting, you can visit The IIA’s CPE website. By Kate Jahnke, TCIIA Certifications Chair, 2010-2011 |
Importance of Member Profile Updates
The Twin Cities IIA has completed its transition to Cvent, our new online event management, registration, and communications application. Contact information (e.g., email addresses, phone numbers, addresses) for all of our Twin Cities IIA members has been added into the Cvent database based on the information received from The IIA's global member database. On a monthly basis, the Twin Cities IIA updates the information in the Cvent database with information from The IIA's global member database.
To help ensure you continue to receive communications from the Twin Cities IIA and are able to register for roundtables, events, and training sessions, please keep your profile information up to date in The IIA's global member database... and tell your co-workers. If you've recently changed jobs, received a promotion, or moved, you can update your title, organization, industry affiliation, address, phone, and email address through The IIA's global website. You can easily update your profile information by visiting The IIA's website, logging in with your member ID and password, and clicking on the "Update Your Profile" link in the red bar on the top of the screen, as shown below. 
After you click on the "Update Your Profile" link, you will be able to update your contact information in a screen similar to the one below. You will also have the opportunity to choose your communication preferences at the bottom of this form. Remember to click "Save" at the end of the form and the Twin Cities IIA will receive your updated information at the beginning of the next month.
Please note that if you have transferred to the Twin Cities IIA Chapter from another IIA Chapter, you will need to contact The IIA's Customer Relations group at 407.937.1100 or via email at CustomerRelations@theiia.org to update your Chapter information. Currently, Chapter affiliations cannot be updated online or through the Twin Cities IIA office. Thank you for helping us keep our member database current so we can keep you informed of all the roundtables, training courses, and events we have planned for 2011!
By Nicole Weber, TCIIA Vice President – Communications, 2010–2011
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 Chapter of Excellence Recognition
The Twin Cities Chapter will be recognized as a Chapter of Excellence at the upcoming IIA Leadership Conference in April for its promotion of The IIA's CIA Learning System Self-Study Materials. Click here to learn more about The IIA’s CIA Learning System or to order materials to study for the CIA exam. By Kate Jahnke, TCIIA Certifications Chair, 2010-2011 |
Upcoming Training Opportunities The Twin Cities Chapter continues with its mission of providing members with affordable and relevant training opportunities throughout the year. This spring the Chapter will host the following training events. Advanced Analytics & Statistical Sampling (Instructor: Dr. Dan Kneer) When: Tuesday, April 5, 2011 8:00 AM - Thursday, April 7, 2011 5:00 PM
Where: Health Partners in Bloomington
CPE: 24 CPE Hours
Click here for the event invitation The Advanced Analytics & Statistical Sampling offering will be instructed by Dr. Dan Kneer. His energetic and enthusiastic instructional style will engage you and inspire you to “audit smarter; not harder.”
CIA Review Courses (Parts 1-4) When: Saturdays starting April 16 through May 21
Where: SUPERVALU East View Store Support Center in Eden Prairie
CPE: 8 CPE Hours per Saturday session
Click here for the event invitation
By popular demand the Twin Cities IIA is bringing back the CIA Review Courses, covering Part 1 through Part 4 of the CIA Exam. The course is not just an exam review course, it's a valuable immersion course for auditors, managers and directors that are new to internal audit. It's also a great refresher course for internal auditors. The course fee includes discounted CIA Learning System review materials, which will be provided at the start of each session. The courses are available individually by CIA Exam Part or can be combined to cover the entire CIA Exam for a reduced fee. Skills for the New Internal Auditor (Instructor: James Roth)
When: April 18-20, 2011 (8:30 AM – 4:45 PM) – Training Session is FullWhere: 3M Clubhouse
On April 18-20, 2011, the Chapter will offer the Skills for the New Internal Auditor training course, taught by Dr. James Roth. Dr. Roth is a highly regarded instructor and internal audit knowledge leader who has been teaching local internal audit talent for many years. Currently this training session is full, but we do plan to offer Skills for the New Internal Auditor later in 2011.
Internal Audit Quality Assessments (Instructor: Basil Woller)
When: Monday, May 23, 2011 8:00 AM - Wednesday, May 25, 2011 12:00 PM
Where: Deluxe in Shoreview
CPE: 19.5 CPE Hours
Click here for the event invitation Our Internal Audit Quality Assessments offering will help get your audit shop geared up for its next external assessment as stipulated by Standard 1312. Basil Woller is a highly regarded IIA quality assessments instructor. The Twin Cities IIA is developing its training schedule for fall 2011. If there are training topics that you would like the Twin Cities IIA to offer, please do not hesitate to let us know. You can send your requests to Aaron Scanlan at Aaron.Scanlan@mpls.frb.org. To view further details on training opportunities and upcoming roundtables, visit the Events tab on the Twin Cities IIA website. By Aaron Scanlan, TCIIA Vice President - Programs, 2010-2011 |
Plan now to attend the 70th annual International Conference in 2011 as The IIA brings its world-class professional development event to Kuala Lumpur, Malaysia. You will stand tall in the profession as you participate in powerful keynote speaker sessions, engage in peer-to-peer networking, and interact with professional service firms and vendors in the most up-to-date exhibit hall experience. For more information on The IIA’s International Conference, please view or download a copy of the e-Brochure, which includes details on speakers, conference sessions, and information on how to register. |
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Upcoming Roundtables New Audit Manager Roundtable
When: March 29, 2011 (8:00 AM – 10:00 AM)
Where: SuperValu Corporate Headquarters CPE: 2.0 CPE Hours (non-NASBA) Business Continuity Auditing Techniques
When: March 31, 2011 (8:00 AM – 10:00 AM)
Where: Lurie Besikof Lapidus & Company, LLP CPE: 2.0 CPE Hours (non-NASBA) CPE: 2.0 CPE Hours (non-NASBA) Best Practices for Using Surveys In Internal Audits
When: April 13, 2011 (8:30 AM – 10:30 AM)
Where: Jostens CPE: 2.0 CPE Hours (non-NASBA) Fraud Risks In Today’s Economic Environment
When: April 26, 2011 (8:00 AM – 10:00 AM)
Where: FourPoint Partners, LLC CPE: 2.0 CPE Hours (non-NASBA) Click here for the event invitation In addition to the session above, be on the lookout for invitations to the following roundtables:
The Dodd-Frank Act When: April 21, 2011
Where: TBD Auditing Acquisitions When: April 29, 2011
Where: TBD Social Media – The Good, The Bad, and the Ugly When: May 2, 2011
Where: TBD Please contact chris.jeffrey@bakertilly.com if you are interested in volunteering as a Roundtable Champion or have suggestions for roundtable topics. By Chris Jeffrey, TCIIA Vice President – Roundtables, 2010-2011 |
Annual Roundtable Participation Fees
The Twin Cities Chapter of The IIA offers approximately thirty roundtables to its members during the Chapter Year between September 2010 and May 2011. Roundtables cover a variety of topics in the following categories:
Financial Services Manufacturing Healthcare Fraud Best Practices Small Audit Shops International Auditing
Payment of the Annual Roundtable Participation Fee entitles the Chief Audit Executives and Audit Staff the following benefits throughout the Chapter Year:
Chief Audit Executive attendance at the CAE Roundtables (approximately three per year) Attendance at any of the roundtables offered by the Twin Cities IIA, space permitting (approximately thirty per year) Attendance at ISACA-MN roundtables, space permitting
The Annual Roundtable Participation Fees for the 2010-2011 Chapter Year are detailed below.
Members in
Audit Department
1 - 4 Members
5 - 9 Members
10+ Members | Annual Roundtable
Participation Fee
$75.00 Each
$375.00 Total
$500.00 Total |
Please confirm with your Chief Audit Executive that the Annual Roundtable Participation Fees have been paid for the 2010-2011 Chapter Year prior to registering for roundtables.
If the 2010-2011 Annual Roundtable Participation Fee has not been paid and you would like to attend one of the scheduled roundtables, please complete the required information and submit your payment to the Twin Cities IIA.By Chris Jeffrey, TCIIA Vice President – Roundtables, 2010-2011 |
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 Junior Achievement bigBOWL Event
Hit the lanes and bowl! The Twin Cities Chapter of The IIA is excited to sponsor two bowling teams for Junior Achievement’s 26th annual bigBOWL event! Join us on Friday, April 1, 2011 to mix, mingle, and bowl with bowlers from over 50 Twin Cities companies committed to the financial literacy of local youth! The Twin Cities IIA continues to support the community involvement of its members by sponsoring two bowling teams (5 people on each team) for Junior Achievement’s bigBOWL event at Flaherty’s Arden Bowl in Arden Hills and Brunswick Zone in Eden Prairie. All participants on the sponsored teams must be current Twin Cities IIA members. If you would like to bowl with a specific group of IIA members, please specify your preference when completing the registration questions. We will do our best to pair with you with your preferred team members. Bowling teams will meet at one of the following locations: 1273 West County Road E Arden Hills, MN 55112 12200 Singletree Lane The IIA’s Partnership with Junior Achievement
In 2005, The IIA developed a partnership with Junior Achievement (JA) Worldwide in support of good governance and strong ethics in the business community. This partnership is helping to educate K-12 students on business issues such as ethics, integrity, corporate accountability, and financial literacy. Through age-appropriate curricula, JA programs begin at the elementary school level, teaching children how they can impact the world around them as individuals, workers, and consumers. The Twin Cities Chapter of The IIA is helping to support the programs offered through Junior Achievement by donating $250 and sponsoring two bowling teams (5 people on each team) for the 2011 Junior Achievement bigBOWL event. Junior Achievement Volunteer Opportunities and Support If you’re interested in volunteering with the Upper Midwest Junior Achievement program, visit the Volunteer Opportunities page or contact Lorraine Anderson (Lorraine.M.Anderson@wellsfargo.com) for more information. Why Volunteer? - The students need you! You can make a difference by helping shape someone's future.
- It is a chance to mentor young people who will soon be part of the work force.
- It is an opportunity to share your experiences and personal stories with young people.
- You can contribute something of value to your community.
- It can be a learning and self-development experience for you, too.
- Your profession needs you! You can explain to tomorrow's professionals what internal auditors do and illustrate the value they bring to an organization.
By Lorraine Anderson, TCIIA Vice President - Membership, 2010–2011 |
Spring Recognition and Networking Event - Coming Soon! The Twin Cities IIA Chapter hosts a recognition and networking event each spring and fall to recognize individuals who recently earned a certification and provide members with an opportunity to network. We have started to plan our Spring Recognition and Networking Event! This year we are going to try something different by holding the event in the morning and having a breakfast style buffet. The event will be held at Jax Café at 1928 University Avenue NE in Minneapolis.
Those of you who know or work with me know that I am partial to breakfast meetings! I am a firm believer that it is the most important meal of the day. In addition, I have received several testimonials that the breakfast at Jax Café is fabulous so this has definitely raised my interest.
I hope you will join me and the rest of the Twin Cities IIA board members on June 7th from 7:30 AM to 9:30 AM. We will be recognizing our newest certification recipients, key anniversary members, and if all goes according to plan, hearing from a keynote speaker. Your invitation with additional details will be sent in early May. By Lorraine Anderson, TCIIA Vice President - Membership, 2010–2011 |
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Job Opportunities
Your organization can have a job opportunity posted on the TCIIA website and included in this newsletter. The cost to have the opportunity posted on the website for 4 weeks is $100 for member companies and $125 for non-member companies. Please contact Barb Grondahl at iiatc@isd.net if you are interested in posting a job opportunity.Visit the News tab on the TCIIA website for current job opportunities in the Twin Cities area. For global employment opportunities, visit the IIA's Audit Career Center. |
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Twin Cities IIA Newsletter Archive
Prior versions of the Twin Cities IIA newsletters are available by clicking on the links below. |
The Twin Cities Chapter Officers for the 2010-2011 Chapter Year | President: | Mike Halbach | President-Elect: | Terry Schwagel | Vice President - Communications: | Nicole Weber | Vice President - Membership: | Lorraine Anderson | Vice President - Programs: | Aaron Scanlan | Vice President - Roundtables: | Chris Jeffrey | Treasurer: | Ryan Marschke |
IIA Vision
The IIA will be the global voice of the internal audit profession: advocating its values, promoting best practice, and providing exceptional service to its members.IIA MissionThe mission of The Institute of Internal Auditors is to provide dynamic leadership for the global profession of internal auditing. Activities in support of this mission will include, but will not be limited to: Advocating and promoting the value that internal audit professionals add to their organizations; Providing comprehensive professional educational and development opportunities; standards and other professional practice guidance; and certification programs; Researching, disseminating, and promoting to practitioners and stakeholders knowledge concerning internal auditing and its appropriate role in control, risk management, and governance; Educating practitioners and other relevant audiences on best practices in internal auditing; and Bringing together internal auditors from all countries to share information and experiences.
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Editor's Note
If you have an article or any other item that you would like to include in the newsletter, please submit your information to Nicole Weber at N_M_Weber@hotmail.com. |
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