March 2015
March 2015
Inside this issue:
Upcoming
Events and
Webinars
2—3
Member Profile 3
New Members
4
Newly Certified 5
Members
IIARF Bookstore
5
Chambers on
the Profession
5
Are you a member
of Linkedin?
 Join the group and stay
updated on the latest
events delivered right into
your inbox!
 Quickly discover what is
being discussed in the
group and be an active
part in determining the top
discussions by adding
comments.
Letter From the President
Greetings IIA Members,
Burr!!! It’s cold outside, but that hasn’t slowed down the Charlotte Chapter officers and volunteers who
are happily breaking a sweat to offer you training and networking events that are both informative and
enjoyable. So let’s show them our appreciation by bundling up and presenting your warm smiles at an
upcoming IIA event. We have plenty to choose from and we are anxiously waiting for you to fill these
seats and expand your knowledge of the audit profession.
One event that is guaranteed to be fun and will also warm the hearts of many of our local students is
the Junior Achievement Bowl-a-thon scheduled for March 19, 2015. Many of you may not be aware
that the IIA is a major supporter of JA and is committed to helping them inspire and prepare young
people to succeed in a global economy. During 2013-14, JA impacted over 4.5 million U.S. students in
more than 197,000 classrooms, which would not be possible without the support of organizations like
the IIA. It warms my heart knowing that I can be a part of making a difference in the lives of our local
youth and I hope you are inspired to join me and roll a strike or two for JA.
Please help us maintain our Platinum status throughout the chapter year by being active in the profession and informing us of your accomplishments. We receive chapter achievement points for the following:
Speaking on an internal audit topic at a meeting, seminar, or college/university.
Serving on an IIA International Committee.
Submitting an article to a trade publication (The Internal Auditor, CAE Bulletin, IIA Educator,
our Chapter Newsletter or other professional magazine or journal).
If you have participated in one or more of these activities, please e-mail the details to your Chapter
Secretary, Ely Martens at [email protected].
I encourage each of you to visit our website to stay current on the activities and events. As always, let
us know what you think about the activities offered to you by the Charlotte IIA Chapter and please feel
free to give us feedback by contacting us via Twitter or LinkedIn. It is truly a pleasure to serve you.
Warm regards,
Arlene Coyle, CIA, CFSA, CRMA
Thank you to our 2015 Corporate Sponsors!
Follow us on
Twitter
@CharlotteIIA
If you are interested in sponsoring our local chapter, please contact Lashanda Dover for
additional information at [email protected]
Page 2
March 2015
DON’T MISS THESE UPCOMING EVENTS
Upcoming CPE for 2015
Date
Topic
Speaker
CPEs
Venue
March 6
CIA Part II Review Course
Garland Granger
8
Wells Fargo-The Green
March 9-10
Mid Atlantic District II Conference
Various
16
Chapel Hill, NC
March 18
Audit Hot Topics
Various
4
Hilton Executive Park
March 24
Reputation Lost! An Immersive
Seminar of Reputation Risk
Ken Ramaley
3
Maggiano's
April 9-10
CIA Part III Review Course
Garland Granger
16
PWC-N. Tryon Street
April 13
Report Writing
Sarah Swanson
8
Lowe’s-Mooresville
April 30-May 1
CIA Part III Review Course
Garland Granger
16
Carolina’s Healthcare
System
May 4
Critical Thinking
Raven Catlin
8
ACN
March Networking Event
Join us and the local ACFE chapter on March 18th at the Hilton Executive Park for a free network event
from 5-8pm following the CPE event sponsored by Grant Thornton. This is a great opportunity
meet other local audit professionals and find out more about the IIA and ACFE organizations.
Member Webinars
The following webinar is being offered by The IIA. Click on the webinar title to view a description and
outline, along with presenter information and key takeaways.
March 17, 2015—1:00 pm—2:00 pm ET
Members-only Webinar: Cyber Security: Data Breaches, Greater Frequency, Greater Costs
Reputation Lost! An Immersive Seminar of Reputation Risk—March 24th
Join your fellow IIA professionals at Maggiano's in Charlotte for new tools to provide assurance against reputation’s threats while embracing its opportunities.
Information and Link to Registration.
Charlotte Chapter of the IIA
Student Scholarship Award
The Charlotte Chapter of the IIA is committed to encouraging the next generation of Internal Auditors. One way we do that is through the annual Charlotte Chapter IIA Student Scholarship award. The
scholarship is for current full –time undergraduate students at a college or university in the greater Charlotte interested in a career in Internal Audit.
If you know someone who might be interested, please direct them to the Charlotte Chapter IIA website
(www.theiia.org/charlotte) for additional information and eligibility requirements.
Page 3
March 2015
Save the Date
2015 IIA District Conference
March 9 – 10, 2015
The Raleigh Chapter of the Institute of Internal Auditors will be hosting the 2015 IIA Mid-Atlantic District
Conference at the Friday Center in Chapel Hill, North Carolina next March. Make sure to SAVE THE DATE on
your calendar and visit the Raleigh IIA chapter website for further details as they unfold.
July 5 - 8, 2015
IIA’s 2015 International Conference
Join us for the 74th annual IIA International Conference, July 5-8, 2015, in Vancouver, as we embark on an
educational journey rich with insights for internal auditors at every level.
Expand your network with 2,000+ peers from more than 100 countries, deepen your knowledge of internal audit,
and experience the sights and multicultural offerings of British Columbia as we explore “Mountains of Change…
Oceans of Opportunities.”
Additional details will be available soon. In the meantime you are invited to contact us with any questions at
[email protected].
September 8 -11, 2015
IIA Seminars in Raleigh
IIA headquarters is coming to Raleigh in September to host a seminar. The following topics will be covered:
Assessing Risk: Ensuring Internal Audit’s Value; Auditor In Charge Tools and Techniques; Beginning Auditor
Tools and Techniques; Enterprise Risk Management: An Introduction; COSO-based Internal Auditing
Don’t miss this opportunity to learn from some of the best. Sign up by July and save! Click the link below for
more details.
Registration
2nd Annual Junior Achievement Bowl-a-thon
Please join us on March 19, 2015 from 3:30 pm to 5:30 pm for the Charlotte Chapter’s 2nd annual Junior
Achievement Bowl-a-thon!!
For additional information click on this link - Information and How to Raise Funds.
Member Profile—Alise Posillico Barron
Alise Posillico Barron
Southeast Regional Recruiter at Experis Finance
Alise has a background in hospitality management with a Bachelor’s degree from
East Carolina University. She has transitioned her passion for working with people from the hospitality industry into a successful career as a Finance & Accounting Recruiter where she specializes in Risk Advisory Services. Alise became a member of the IIA in 2013. She has spearheaded facilitating a joint networking and CPE event with the IIA and is a volunteer on the Registration
Team. She enjoys attending networking events and making connections.
2015
Page 4Audit Reports are clear, concise and provide the reader enough information to understandMarch
Good
the issues
and react accordingly. This session will focus on barriers to good report writing and how to organize and
communicate audit issues and the overall
report.To Our New Members
Welcome
Allen Acken Bartley Deese Theresa Libensperger Layna Roycraft Michael Aleski James Dewitt Hannah Maringa Sandra Seibert Yoana Allen Dennis Donath Staci Marino Jennifer Shaver Brian Alston Douglas Duncan Lareen Matthews Cheryl Smith John Angelo Bryan Dustman Jake Mccaslin Jerri Snyder Stacie Armstrong Scott Edgerton Lisa McClain Stephen Souder Charles Baker Gary Eldridge Franklin McCrary Daniel Bartley Melody Emami Eileen McKaig Shanna Berry Jared Fawley Phillip McKeown Jessica Betts Kenneth Finch Colton Mendenhall Brian Billups Jeffrey Fisher Marcia Mensah Paulina Bolton Beverly Foushee Kevin Merritt Samantha Bonder Magdalena Francois Kelly Meyers Erik Borg Lester Giles Chris Miazgowicz John Bower Robert Gragg David Millar Mary Coffey Monica Gutierrez Victoria Miller Chadwick Collins Cynthia Harris Dale Moore Terrence Cook Julius Hart Ademola Oloyede Ryan Cornell Thomas Henrikson Anthony Orsello Christopher Cramer Charles Hill Nerina Packard Alex Crouch Jackie Holmes Marta Persinska Sonya Crump‐Greene Wayne Hulet Alexander Popp Adam Wilson Jason Curtis Richard Hults Constance Radtke Jacob Wilson Blessed Daka Lakisha Johnson Ronald Reynolds Alicia Winebarger Sean Daly Heather Jones Melissa Roberts Justin Wood Josanne David Lamar Jones Margaret Robinson Lisa Wood Alice Davis Peter Keehnle Ian Rosser Chang Zeng Lisa Davis Kevin LeMelle James Roth Jucheng Zhao Treise Spears Max Stokes Brian Stowe Ann Swain Bryan Swartz Louis Tames Jamila Thomas Daniel Trofinoff Ashley Turner Dorothy Unger Joseph Valasquez Bridget Ward Jacquelyn Ward Sunne Williams March 2015
Page 5
Certification
Corner
Congratulations To Our Newly Certified Members!
Emily A. Buchanan-Wright-CIA
Stephanie Young Garner-CIA
Alexandre Kaliberdine-CFSA
Stephen Randal Campbell-CIA
Crystal Leigh Gibson-CIA
Amia Miller-CIA
Frank W Crutchfield-CIA
Patricia Ann Gibson-CIA
Laura K. Myers-CIA
Kristin Broadway Diamond-CIA
Bryan Nickolas Hatcher-CIA
Nicole L. Plates-CIA
Patrick M. Dunlavey-CRMA
George Talmage Hendrix IV-CCSA
Kyle Stillie-CIA
Shannon Rainer Freeman-CIA
George Talmage Hendrix IV-CIA
Joe A. Wilson-CFSA
Bryan Todd Wright-CIA
Congratulations Joe A. Wilson!
On behalf of the Professional Certifications Board and the Board of Directors
of The Institute of Internal Auditors, we would like to congratulate you on
earning the CFSA Award for your outstanding performance on the Certified
Financial Services Auditor (CFSA) examination in 2014.
This means that, in addition to successfully completing the exam on your
first attempt, you also achieved the highest overall exam score of all candidates during this exam period.
Congratulations on this momentous achievement!
The IIARF Bookstore Offers
Why Should You
Become Certified?
Earning your certification is like having a key
to the vast world of
opportunities the profession of internal
auditing offers placed
in the palm of your
hand. It can open
doors you did not
even know existed, as
the three or four letters that now follow
your name will make
one powerful statement about the expertise you bring to the
table. Ultimately, becoming certified will:



Member Savings:
Save at the IIA Research Foundation Bookstore’s New Products!

From Financial Planning and Budgets: Understanding the Auditing Process (Member Price
$55/Non-Member $65) to Bribery: Identify Hidden Risks in Your Organization (Member Price
$40/Non-Member $50), the IIARF Bookstore has you covered!

CLICK HERE TO VISIT THE BOOKSTORE'S NEW PRODUCTS PAGE

Also, visit the bookstore often to find information on bundled savings, closeouts, IIA event-related
books, and sales items by clicking on the Sales & Specials link.
CLICK HERE TO VISIT THE BOOKSTORE'S SALES & SPECIALS PAGE

Help you earn
credibility and
respect in your
field.
Open more opportunities for
advancement.
Increase your
earning potential
by as much as
40%.*
Prove your willingness to invest
in your own development.
Demonstrate
your commitment
to your profession.
Improve your
internal audit
skills and knowledge.
Build confidence in
your knowledge of
the profession..
Page 5
When It Comes to Risk-based Auditing, Don’t Let the Tail Wag the Dog
March 2015
(February 16, 2015)
Richard Chambers, CIA, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession
At last count, more than 80 percent of internal audit departments assess risks as part of their audit planning process. So, why is it that legitimate risks to the organization are often glossed over, or overlooked entirely, when internal audit is assessing risks? I fear this happens far
too often, and that it poses a huge and potentially growing exposure both for internal audit's clients and for the reputation of the profession. I have looked under the hood of scores of internal audit functions over the past decade, and I have engaged dozens of other CAEs in discussions regarding their risk-assessment practices. As I have witnessed firsthand, and many CAEs have candidly acknowledged, quite a few risks
never make it onto internal audit's risk radar. There are a number of reasons for this oversight: The audit committee may explicitly limit the
areas where they want internal audit to focus; a new risk may emerge so rapidly that its potential to wreak havoc is not fully recognized; or
internal audit staff are subconsciously biased to assume that, because areas have historically been well controlled, no risks are present.
However, there is another and more troubling reason why key risks are frequently omitted from the risk assessment and subsequent audit
plans: The internal audit department simply does not have the skills to address the risks.
How often do we audit only the things for which we have the skills and turn a blind eye to those risks that we cannot easily assess with the
talent on staff? Assessing only those risks that we know we can audit is the classic situation of the "tail wagging the dog." When this happens,
internal audit provides a false level of comfort to management and the board that these aren't risky areas at all, because they would not
negatively impact the organization or they are well-controlled.
Clearly, the proper course is to assess the full portfolio of risks that could prevent the organization from achieving its objectives, identify the
areas where residual risks remain high, develop a preliminary risk-based internal audit plan, and only then determine whether internal audit
organically possesses the resources to address them. Often, it does not.
There are solutions for the CAE when in-house skills are lacking. These include hiring the requisite talent, co-sourcing, or leveraging expertise from elsewhere in the organization. But you don't leave risks off the matrix just because you don't have the skills to assess them – at
least not without acknowledging it to management and the audit committee.
From my experience, the most common areas that fail to make the risk assessment because of internal audit's skills gap are those related to
technology (cybersecurity, cloud computing, mobile technology, etc.) and to business/strategic risks. When these risks blow up and significantly damage shareholder value, the rhetorical "where was internal audit" question is often posed. Unfortunately, I have seen more than a
few CAE career casualties because a lethal risk wasn't reviewed – in some cases, because of inadequate skills.
That is why I advise CAEs to sit down with management and the audit committee at the time the audit plan is being presented and be candid
about what's not being looked at and why. Is something not included because internal audit decided it was a lesser risk? Is it because internal
audit doesn't have adequate resources? Or, is it that internal audit does not have the necessary expertise? All too often, it is because we
don't have the expertise, and it is convenient to look the other way.
As pervasive as the shortage of internal audit skills to address specialized risks is now, I fear it is only getting worse. There is mounting evidence that we are in the midst of a growing talent shortage in the profession. Increased competition for talent and an expanding scope of
work assigned to internal audit are dual threats that could have profound consequences.
The IIA Audit Executive Center's 2015 Pulse of Internal Audit survey, which will be fully presented at our upcoming General Audit Management (GAM) Conference in March, hints at the intense scramble for talent. Indeed, 40 percent of North American CAE respondents said
attracting and retaining qualified internal auditors was a high or critical priority for their audit plans. When asked to describe why skills gaps
existed on their teams, 54 percent cited competition for a limited talent pool.
Evidence of this battle for talent was illustrated at a CAE roundtable I attended recently in New York. Among the two dozen CAEs in attendance, several described losing new hires to a competitor before they showed up for their first day on the job!
Our upcoming report on the 2015 Pulse survey will share strategies for navigating the talent shortage, including techniques employed by
survey participants to address the skills gap.
I encourage all CAEs and stakeholders to consider whether their audit plans may be unduly constrained by the level of expertise on the
internal audit staff. In a perfect world, this would never be so. But in a perfect world, internal audit wouldn't have much to do.