DECEMBER 2011 IIA NEWSLETTER



New COSO Guidance

In 2012, COSO will be updating their guidance and respective frameworks. To stay on top of the changes, plug into the IIA’s webinar series. The latest live webinar held on January 31st will be archived and available for replay to those who missed it. Check out for recent news on the COSO Exposure Draft. Follow COSO at .

 

Prepare to Pass the CIA Exam with The IIA’s CIA Learning System

If you’ve made the decision to enhance your career by earning the Certified Internal Auditor® (CIA®) designation, we can help you achieve your goals with The IIA’s CIA Learning System™.

The IIA’s CIA Learning System is an interactive print and online self-study review program designed by CIA-certified industry experts to help you learn, review, and apply the key CIA content. This approach will help you build on foundational elements of internal auditing to master key concepts you need to know to pass the CIA exam. This four-part program includes:

• Comprehensive print materials teaching the entire global CIA exam syllabus.

• Interactive online study tools:

• Pre- and post-tests to gauge your starting knowledge and advancements.

• Section quizzes to test your comprehension and retention.

• Flashcards and glossary.

• CIA practice exam to build confidence for the computer-based CIA exam.

For more information or to try a demo, visit overview.

Members save up to US $100! Order today and save!

New CIA Exam Changes in 2013

The Institute of Internal Auditors (IIA) IIA Global Headquarters has announced impending changes to the Certified Internal Auditor® (CIA®) program scheduled for 2013. In response to findings from a Job Analysis Study (JAS) for the CIA program conducted in 2011, The Professional Certifications Board (PCB) and the Board of Directors of The IIA have approved two key changes to the program.

The JAS determined that the body of knowledge related to the profession of internal auditing has changed since the last exam content update in 2004 and therefore needs to be adjusted to reflect those changes.

The first change will impact the exam structure, reducing the program from four to three exam parts. With the reduction in parts, The IIA will be eliminating the recognition credit provision previously applicable to Part 4 of the exam.

The second change consists of a realignment of the exam content outline and question count for each part. Below is a brief overview of the new outline:

|Part 1 Exam: Internal Auditing Basics |Part 2 Exam: Internal Audit Practice |Part 3 Exam: Internal Audit Knowledge Elements |

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|Duration: 2.5 hours |Duration: 2.0 hours |Duration: 2.0 hours |

|Question Count: 125 |Question Count: 100 |Question Count: 100 |

|Topical focus areas include: |Topical focus areas include: |Topical focus areas include: |

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|IIA Mandatory Guidance |Managing the Internal Audit Function |Governance |

|Internal Control and Risk |Managing Individual Engagements |Risk Management |

|Tools and Techniques for Conducting the Audit |Fraud Risks and Controls  |Organizational Structure & Business Processes |

|Engagement | |Communication |

| | |Leadership |

| | |IT/Business Continuity |

| | |Financial Management |

| | |Global Business Environment |

The new content and three-part exam structure are scheduled to be implemented by mid-2013. The IIA is currently working to finalize the transition process for those who are currently in the CIA program and do not complete the program prior to the implementation of the new structure.

New Certification in Risk Management Assurance (CRMA)

The Institute of Internal Auditors (IIA) will offer a new certification allowing audit practitioners to demonstrate their ability to provide advice and assurance to audit committees and executive management on whether key risk management and governance processes in their organizations are in place and effective. The Certification in Risk Management Assurance (CRMA) exam will be offered starting in mid-2013.

 

Beginning in October, qualified individuals with knowledge and experience in risk management assurance can begin applying for the CRMA prior to the exam launch exam through a “professional experience recognition” process. More information on the specifics of this process will be available later this year.

 

In addition to The IIA’s premier CIA designation, the CRMA will complement The IIA’s suite of specialty certifications, which include the Certified Financial Services Auditors (CFSA), Certified Government Audit Professional (CGAP), and Certification in Control Self-Assessment (CCSA). The CRMA exam will ultimately be translated into multiple languages and the designation offered globally. For more information about the new CRMA designation, visit certification/crma.

2011 – 2012 PROGRAM GUIDE

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|The Institute of Internal Auditors |

|Presents |

|Student Night |

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|Free Admission! Free Food! 1 Free CPE! |

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|The Evening’s Speakers will be: |

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|Mike Browning, Parkview Health CFO: Mike will discuss a variety of subjects including developing financial strategy, working with auditors and a day in the |

|life of a CFO. Bring your questions for this unique opportunity! |

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|Andi Shriner, a Field Marketing Specialist for BECKER who will discuss the 2012 changes to the Certified Public Accountant (CPA) exam. |

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|Location: 10501 Corporate Drive., Fort Wayne, IN 46845 (on the new Parkview Campus) |

|Turn onto Parkview Plaza Drive from Dupont Road and then the first left onto Corporate Drive. Use the main entrance in the front of the building. |

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|Questions: Email Christopher.Walda@ |

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|March Meeting |

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|“Negotiation Skills” |

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|Let’s face it, auditing can be tough work. How many times have you been sitting across the table from someone talking about the scope of an audit or discussing |

|an issue and you realize you just aren’t connecting in a productive way? There’s a little tension in air and you can see the other person’s veins are pounding |

|at their temples. Understanding the art and skill of negotiations can mean the difference between an outcome that satisfies all the parties or having a |

|situation that burns bridges and leaves scars for audits to come. Frank Olive, Professor, Manchester College, brings a broad and practical perspective to |

|understanding negotiations. His insights will help you understand how to apply negotiation skills in a way that can improve your interactions with your clients |

|and give you a better overall audit experience. |

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|Frank Olive |

|Professor, Manchester College |

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|Franklin Olive joined the faculty at Manchester College in the Fall of 1999 after teaching for nearly twenty years in New England and at the University of |

|Maryland. Professor Olive has earned Bachelor's and Master's Degrees in both Education and Business Administration. He is also a Certified Public Accountant |

|(MD). Prior to beginning his college teaching career, he served as an officer in the U.S. Navy and later worked as a Budget Analyst at the University of |

|Maryland and as a senior Budget analyst at the American Chemical Society in Washington, DC. He has maintained a private accounting practice, and owned and |

|managed a family real estate business. He has taught Continuing Professional Education courses for CPAs and served as a financial consultant and trainer for |

|both private and public sector companies in New England, Maryland, and Indiana. Professor Olive teaches a variety of courses in the Accounting and Business |

|Department, including his popular Sales course. He has been married for nearly forty years. All of these life experiences, education, and training have provided|

|Prof. Olive with extensive experience in the field of negotiation. |

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|Tuesday, March 13, 2012 |

|(1 CPE credit available) |

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|LOCATION: Lincoln Financial Group, 1C Boardroom |

|(Parking is free in the visitor’s parking lot at the Clinton Street entrance.) |

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|SCHEDULE: BREAKFAST MEETING |

|7:30am - 8:30am Registration and Breakfast |

|8:30pm – 9:30am Presentation |

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|COST OPTIONS: $25.00 Members, $35.00 Non-Members |

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|Make checks payable to “Institute of Internal Auditors – FW Chapter” and present at time of sign-in. Please note that payment is due at this time unless prior |

|arrangements have been made. |

|Registration: To register contact Kevin Gearhart (Kevin.gearhart@ or 260-455-6554) by 03/08/12. At time of registration, please provide your name, your|

|phone number, and your employer’s name. All cancellations require 48 hours notice. Cancellations not received in time will be charged the full cost of the |

|meeting. If you find you cannot attend at the last minute, you may send another employee in your place as long as you notify us of the situation. |

|*** Students: Contact Kevin Gearhart for information regarding discounted student rate. (Note: Students are members or non-members currently enrolled in at |

|least six graduate or undergraduate credit hours at a college or university.) |

|CPE Certificates: CPE certificates are being generated within 30 days of the meeting by the IIA Secretary, Albert Cotton. Please contact Albert at |

|Albert.Cotton@ if you have any questions. |

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|GENERAL PROGRAMMING MEETING INFORMATION |

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|PAYMENT: Make checks payable to “Institute of Internal Auditors – FW Chapter” and present at time of sign-in. Please note that payment is due at this time |

|unless prior arrangements have been made. |

|REGISTRATION: To register contact Kevin Gearhart (Kevin.gearhart@ or 260-455-6554). At time of registration, please provide your name, your phone |

|number, and your employer’s name. |

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|CANCELLATIONS: All cancellations require 48 hours notice. Cancellations not received in time will be charged the full cost of the meeting. If you find you |

|cannot attend at the last minute, you may send another employee in your place as long as you notify us of the situation. |

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|STUDENTS: Contact Kevin Gearhart for information regarding discounted student rate. |

|(Note: Students are members or non-members currently enrolled in at least six graduate or undergraduate credit hours at a college or university.) |

|CPE Credits for Members |

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|18 FREE CPE CREDITS FOR MEMBERS |

|For more than 67 years, Internal Auditor magazine has shared leading practices with internal |

|auditors around the globe. Now in addition to supporting you in your career with print and |

|online news and information, Internal Auditor is helping you earn CPE credit as well. With the |

|release of each bi-monthly edition of the magazine, you have the chance to earn three IIA |

|CPEs to support your IIA designations. Available to members for free, the online quiz takes |

|your experience with the publication to the next level by testing your internal audit knowledge |

|and providing valuable CPE credits.   |

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|CPE REPORTING CHANGES ON THE HORIZON |

|As of January 2011, IIA-certified candidates seeking to report their continuing professional education (CPE) credits will be able to do so in the Certification |

|Candidate Management System (CCMS), rather than on The IIA's website. Reporting CPE credits biennially is a simple step that helps professionals maintain use |

|of their designation. The CPE reporting deadline is determined by an individual's IIA membership or customer ID number. IIA certified professionals whose |

|membership or customer ID number ends with an even number (e.g., 00002) should report their CPE credits in even-numbered years (i.e., 2010, 2012, etc.). Those |

|with odd-numbered IIA membership or customer ID numbers (e.g., 00001) should report in odd-numbered years (i.e., 2011, 2013). The reporting deadline for the |

|prior two years is May 31 of the reporting year (e.g., candidates reporting in 2011 will report on credits earned during 2009–2010). IIA-certified |

|professionals who fail to meet their CPE requirements by the reporting deadline automatically will be placed in an inactive status and may not use their |

|designation. |

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|Members of The IIA can report their CPE credits free of charge. In January 2012, the processing fee for nonmembers will increase to US $100 for each |

|certification. For additional information, such as CPE requirements for IIA certifications, CPE reporting in CCMS, and a list of CPE opportunities, visit |

|certification. |

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|CPE CERTIFICATES |

|For questions about CPE certificates for Chapter programs or to report speaking engagements or other service to the profession in which you have participated, |

|please contact Barry Weybright at barry.weybright@ or at (260) 455-6639. |

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|Going into the 2011-2012 year, the Secretary position has been transitioned to Albert Cotton. Albert will be preparing CPE certificates for the upcoming |

|meetings and can be reached at albert.cotton@ or at (260) 455-2960. |

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|Featured Chapter Member |

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|Todd Buuck |

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|My path to Internal Audit is probably unique compared to most “Internal Audit” professionals nowadays. As I was going to college and working towards completing|

|my Accounting degree at IPFW, I worked for a local boat manufacturer for five years and then started here at Lincoln Financial Group in 1997. I spent the first|

|18 months here at Lincoln in Customer Service operations for what was then a combined call center for the Annuity and Life businesses. I learned a lot about a |

|vast majority of the annuity and life products Lincoln offered, the customer service operations and how to provide excellent customer service to all customers |

|(internal and external). Soon after building this foundation of knowledge, I applied for an open staff auditor position within Internal Audit and was offered |

|and accepted the position in April 1999. From 1999 through most of 2002, I spent time working on the Distribution Audit team that had responsibilities for |

|auditing our Broker-Dealer operations (Lincoln Financial Advisors) and various field offices across the country. Being a part of this team exposed me to |

|operational, financial and compliance-related auditing, which was both interesting and rewarding. While on the Distribution Audit team, I had the fortunate |

|pleasure of learning a lot from Kerri Piekarski and Steve Royse over the course of a 2-3 year time period. I then moved over to the Annuities team under the |

|direction of Barb Phillips and performed operational/financial audits for individual and group annuity operations, producer solutions as well as other project |

|work such as E&Y assistance, board reportable projects, investigations, etc. |

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|After almost 5 years of experience at Lincoln and feeling that I had a good understanding of various operational, functional and financial areas of the company,|

|I felt compelled to seek a more challenging role within the company even though I had a strong liking to internal auditing and my heart was really set on |

|establishing a rewarding career in the auditing profession. Therefore, as a means of gaining more experience, I applied, was offered and accepted a management |

|position with Lincoln’s broker-dealer operations, Lincoln Financial Advisors (LFA). This position was responsible for all incoming/outgoing mail services, the |

|imaging /work distribution center and a producer support team located within the home office. In total, I had approximately 20 entry level individuals |

|reporting to me, which proved to be a very challenging, yet rewarding experience. As one can imagine, the level of stress associated with ensuring that all the|

|duties for these 3 distinct area’s of the broker-dealer was overwhelming at first; however, with my past customer service and auditing experiences, I was able |

|to per se “audit” each function separately and apply best practices where appropriate and suggest control improvements for each area to help reduce |

|inefficiencies, streamline processes and improve overall accuracy and timeliness. |

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|After 1 year in this LFA management position, the economy had turned sour and Lincoln was going through a period of layoffs in late 2003 just as many other |

|companies were both locally and nationally. As a result, I was advised that my position was being eliminated; however, my past hard work and efforts had paid |

|off since I was informed at the same time that my former boss (Barbara Phillips) was in need of a Senior Auditor for her team and the job was mine if I had an |

|interest (duh, no job vs. coming back to internal audit??) There was no question in my mind that I was very fortunate with the timing of such an opportunity; |

|and therefore, I returned to Lincoln’s Internal Audit department in the 4th quarter of 2003. Being the senior on Barb’s team provided me with multiple |

|opportunities to work on various projects, including regular operational/financial audits, review projects, monitoring and consulting projects, E&Y assistance |

|work, Sarbanes-Oxley (SOX), etc. I served in the Senior Auditor capacity on Barb’s team until 2007 when I was promoted to Audit Manager. |

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|As Audit Manager from 2007 to present, I assumed audit responsibilities for the individual and group annuity operations, group protection (employer benefit) |

|operations and some project work for the producer solutions organization. I also participate and engage in our annual risk assessment and audit planning |

|process and my team takes on added workloads when necessary to assist our business clients with process improvement and/or efficiency-related project work. I |

|have a team of 4 highly skilled and experienced auditors that makes my job not only easier, but makes it a joy to come to work each and every day. I have also |

|had the wonderful pleasure to work directly for two tremendous coaches/mentors in Barb Phillips and Kim Moore. Both Barb and Kim have provided leadership and |

|guidance through a varied economic and market landscape that I truly value and embrace. I’ve learned a lot over the past four years managing within internal |

|audit here at Lincoln and I know there is plenty more to learn. As expected and anticipated many years ago, internal audit has turned out to be a very |

|rewarding career choice for me and I’ve always enjoyed the team approach to projects and the variety of work that comes with the auditing profession in the |

|financial services industry. |

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Chapter Communications

CHAPTER WEB SITE

Special thanks are due to Michael Krouse for his excellent work on the Chapter web site!

Visit the site at: fortwayne.

LINKED IN

Check us out on ! Search groups for “Fort Wayne Chapter of Institute of Internal Auditors” and request to join the discussion!

CHAPTER ACHIEVEMENT UPDATE (CAP)

The Chapter Achievement Program (CAP) is designed by the Institute of Internal Auditors to recognize activities that promote the strategic objectives of The IIA. This program provides minimum standards of performance, emphasizes the basic mission of the Chapter, encourages Chapters to perform that mission, and provides Chapters with a means to evaluate their success in accomplishing that mission. We are at 66% of our goal with 1,068 CAP points.

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Additional CAP Information

A chapter must earn the minimum CAP points in each of the three service categories (Service to Members, Service to the Profession, and Chapter Administration) participate in the CAP program. Once the chapter has met or exceeded the minimum CAP Requirements in the three categories, the chapter will have reached the BRONZE performance level. A chapter can advance to SILVER or GOLD levels by accumulating the points noted below - made up of any combination of CAP points from the three service levels (while also meeting the minimums above).

▪ BRONZE - 685 CAP Points

▪ SILVER - 1,060 CAP Points

▪ GOLD - 1,560 CAP Points 

PLATINUM - This is a special level created to recognize chapters that attain GOLD status for 10 of 11 consecutive years. The chapter will continue to be recognized as platinum level each year thereafter it the chapter achieves the Gold CAP level for 10 of 11 consecutive years.

2011 – 2012 OFFICERS

Co-President Eve-Lynn Clarke (260 403-0875 eve-lynn.clarke@

Co-President Barry Weybright (260) 455-6639 barry.weybright@

Vice-President Kevin Gearhart (260) 455-3411 kevin.gearhart@

Secretary Albert Cotton (260) 455-2960 albert.cotton@

Treasurer Mindy Hurley (260) 427-1133 mindy.hurley@ci.ft-wayne.in.us

2011 – 2012 BOARD OF GOVERNORS

Amy Dougal, CIA (260) 455-1861 amy.dougal@

Brooke Gardner (260) 455-6991 brooke.gardner@

Patrick Horden, CIA (260) 455-3411 pat.horden@

Kim Moore, CIA (260) 455-2969 kimberly.moore@

Tracy Neumeier, CIA (260) 427-1119 tracy.neumeier@ci.ft-wayne.in.us

April Pedersen (260) 455-7782 april.pedersen@

Ferril Sorenson (574) 214-8618 ferril.Sorenson@

2010 – 2011 COMMITTEE CHAIRS

Academic Relations Chair Chris Walda (260) 373-7049 christopher.walda@

Public Relations Chair David Bolton david.bolton@

Certification Chair Brittney Heckman, CIA (260) 455-6509 brittney.heckman@

Membership Chair Dan Hines (260) 455-2670 daniel.hines@

Web Site Chair Michael Krouse (260) 455-3599 michael.krouse@

WE WANT TO HEAR FROM YOU!

We are always looking for content for this newsletter and welcome articles, news items, kudos, recent certifications, passing exams, employment opportunities or other items of interest to our membership. Please send your submissions to Barry Weybright at barry.weybright@ or to Eve-Lynn Clarke at eve-lynn.clarke@.

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TABLE OF CONTENTS

PRESIDENT’S MESSAGES 1

News from COSO 2

Certification Focus 2

2011-2012 Program Guide 4

CPE Credits for Members 6

Featured Chapter Member 7

Chapter Communications 9

CAP Update 9

Chapter Officers 10

We Want to Hear From You 10

PRESIDENT’S MESSAGE

Welcome to the January 2012 newsletter! A brand new year brings some changes that we think you should be aware of as you plan ahead.

In this month’s issue you’ll notice several articles regarding The IIA’s CIA certification. If you are planning on take the CIA Exam consider using The IIA's CIA Learning System which combines printed textbooks, interactive online tests, and study tools with optional instructor-led courses to help you prepare to pass the CIA exam. Depending on your timeline; you should be aware of expected changes for the 2013 CIA exam.

Please note the following key points that will take effect in 2013:

1) The IIA CIA Program will be reduced from four to three exam parts.

2) The IIA will be eliminating the recognition credit provision previously applicable to Part 4 of the exam.

3) The IIA will be realigning the exam content outline and question count for each part.

In addition, we are beginning to gear up our programming for the year and will begin with our Annual Student Night on February 16th at Parkview Hospital featuring Mike Browning, Parkview Health CFO. Please see the Program Guide for upcoming sessions. We hope you plan to attend!

Please check out this month’s Featured Member! Todd Buuck of Lincoln Financial Group shares his experience and career history included in this newsletter. We welcome volunteers and nominations for this monthly feature!

Best Regards!

Eve-Lynn Clarke and Barry Weybright

Co-Presidents – Ft Wayne Chapter

Institute of Internal Auditors

Thursday, February 16th

6:00pm – 8:00pm

Parkview Health Corporate Office

Auditorium

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January 2012 | Volume 24 Issue 7 | inside iia Newsletter

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January 2012 | Volume 24 Issue 7 | inside iia Newsletter

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