Thinking Forward

Internal Audit

Foundation Update

Bonnie Ulmer

Vice President

Internal Audit Foundation

September 22-24, 2017

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• Internal Audit Foundation Activities

• New Publications, Projects and

Priorities

• Publishing Opportunities

• Use of Data

• Audit Intelligence Suite

• Grants and Awards

Topics of Discussion

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MISSION

To be a vital resource for impactful Internal

Audit and related Stakeholder research,

educational materials and practice insights.

VISION

To shape, expand and advance knowledge of internal

auditing by developing and disseminating timely, relevant

information and insights that address the needs of our

Stakeholders globally.

About The Internal Audit Foundation

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Focus is on its four main goals to:

• Provide knowledge and insights

• Select timely and relevant topics

• Produce alternative delivery models

• Deploy sustainable business models

Background

Research and Educational Products

Open activities

(2017-2019)

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Internal Audit Foundation:

Recent Accomplishments

6Your donation dollars at work.

Performance Auditing: Measuring Inputs,

Outputs, and Outcomes, 3rd Edition

The 2017 Internal Audit

Compensation Study

Risky Business: Principles of

Auditing Property and Casualty

Insurance

Internal Audit Foundation:

Recent Accomplishments

7Your donation dollars at work.

Trusted Advisors: Key Attributes of

Outstanding Internal Auditors

(IPPF)® International Professional

Practices Framework (IPPF)® - 2017

Edition

Quality Assessment

Manual for the Internal

Audit Activity (QA Manual)

Internal Audit Foundation:

Recent Accomplishments

8Your donation dollars at work.

Internal Auditing: Assurance

& Advisory Services, Fourth

Edition

The Security Intelligence

Center: Next Steps Beyond

Response to Anticipation

Risk Management Systems

and Implications for Carbon

Emission Reporting and

Reduction

Internal Audit Foundation:

Recent Accomplishments

9Your donation dollars at work.

CIA Practice Questions (IPPF Aligned)

Auditing the Procurement Function,

2nd Edition

Message, Brand, and Dollar:

Auditing Marketing

Operations

Products at The Printer

10Your donation dollars at work.

Management's Guide to Sarbanes-

Oxley Section 404, 4th Edition

Managing Risk in Uncertain

Times: Leveraging COSO's New

ERM Framework

Assessing and Managing

Strategic Risks: What,

Why, How for IA’s

Educational Products in Pipeline

• ERM Playbook

• Implementing the Updated IPPF

• Evaluating the Corporate Culture

• Sawyer’s IA, 7th Ed.

• Guide to Risk Assessment, 2nd Edition

• CIA Exam Practice Questions (new

syllabus)

11Your donation dollars at work.

Research in Edit

Internal Audit-Capability

Model (IA-CM) for Public

Sectors

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Research in Pipeline

• Future of Cybersecurity in IA

• Data Analytics II

• IA of Anti-Corruption Programs

• Aligning IA Activities and Scope to Organizational Strategy and Culture

• CBOK Stakeholder Report– Strategic Risk – How can internal audit help with

strategic risk within key functions to the organization?

– Consulting vs. Compliance vs. Assurance – What is internal audit’s role in each of these areas?

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Titles subject to change

Your donation dollars at work.

Publishing Opportunities

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Publishing Opportunities

The Foundation is interested in content that will:

• Provide practical guidance

• Focus on both typical and unusual factors

• Provide insight on how to the audit profession

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2017/18 Publishing Opportunities

• RFP Artificial Intelligence (AI)– AI Process Governance: Early Warning and What Internal

Auditors

– AI Risks: What Organizations are Investing and Creating and

How Internal Auditors Need to Assess Risks

– AI Audit Programs a Case Study: What Innovative Internal

Auditors are Piloting in Auditing AI

• Technology Disruptors– Corporate Strategy, Governance, Risk, Auditing and Leveraging

• Risk Management and Internal Audit– Current and future relationship/interface

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Use of Data

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The Foundation encourages broad use of reports and data by researchers globally.

• Researchers may submit a Data Access Request Form (may be used for any IIARF data needs)

• Results from CBOK 2006, 2010 and 2015 surveys are available

• The Foundation has provided a download of the question list for the CBOK 2015 Survey

• Surveying IIA Members

For further information, please contact Foundation@theiia.org or visit https://na.theiia.org.

Data Access including CBOK

Audit Intelligence Suite

Benchmark

Assess

Survey

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Benchmarking Report(formerly GAIN)

One of the easiest, most efficient, and cost-

effective ways to gauge your audit

department. Get the decision support you

need as a trusted advisor to executive

leadership, the board, and other stakeholder

groups.

Comprehensive Data Gathered

• Demographic information

• Organizational summary

• Internal audit costs

• Internal audit staffing

• Sourcing

• External Audit

• Internal audit oversight

• Risk assessment & audit planning

• Audit implementation / life cycles / reporting

• Performance management

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Skills Assessment

Replaces Career Map / Team

Builder. The best way to arrive at

success is to assess. This

comprehensive tool, based on

The IIA’s Global Competency

Framework evaluates professional

strengths and development needs

of individuals or entire teams

based on their role.

• Assess strengths & opportunities

• Evaluate individuals and teams

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Stakeholder Survey

A vital role of a CAE is to

manage expectations — those

of their stakeholder groups, as

well as their internal audit

teams. Stakeholder feedback is

critical to the long-term success

of any CAE or internal audit

activity.

• Survey stakeholders

• Identify perceptions and

expectations

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Awards and Grants

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Did You Know the Foundation Funded in 2017?

• US $135,000+ in Academic Fund grants– to help promote the study of internal auditing

within college and university curriculum

• US $10,000 in grants for Esther Sawyer research award– to students currently enrolled in an IAEP

university and based on submission of a manuscript on a topic related to internal auditing.

• US $5,000 in support of the MJ Barrett award– provides funds to selected doctoral candidates

interested in the field of internal auditing.

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Michael J. Barrett Doctoral

Dissertation Award

The History of the Award

• Named in the memory of Michael J. Barrett, DBA, CIA. Dr. in

1990

• Barrett served on the Board of Research Advisors for the

IIARF

• He is honored as he was instrumental in establishing IA

courses at the multiple universities

• Grant is offered as an incentive to future professors who will

continue research and education in the IA profession

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Michael J. Barrett Doctoral Dissertation

Grant Recipients

Year Recipient Dissertation

2014 Porschia Nkansa

University of Memphis

Professional Skepticism and Fraud

Risk Assessment: An Internal

Auditing Perspective

2015 Jesus Rodolfo Jimenez Andrade

Case Western Reserve University

Internal Controls for External Risks:

Reputational Control Theory

2016 Nishaal Prasad

The University of Auckland

Business School

Exploration of the Effectiveness of

the Internal Audit Function in New

Zealand

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Esther R. Sawyer

Scholarship Award

Funded by a grant from the Sawyer family

Awarded to students at IIA Internal Auditing

Education Partnership (IAEP) schools pursuing

studies in internal auditing

Grant amount

First Place winner:

• US $5,000 to the student

• US $3,000 for the school

• Paid travel to IIA International Conference

Second place winner:

• US $1,000 to the student

• US $500 for the school

Third place winner:

• US $500 to the student

• US $500 to the school

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Esther R. Sawyer

Scholarship Award

Eligibility

Participation in an IIA IAEP school & one of the following:

• Taking IA courses at the undergraduate level

• Enrolled in a graduate program in IA, accounting or business and

taking courses in internal auditing at an IIA IAEP university

• Completed his/her course work in an IA program at an IAEP

university before March 30

Prior recipients of the award are not eligible.

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Esther R. Sawyer

Scholarship Award

2018 Competition Topic

Assessing Governance – internal audit’s role in reviewing the top of the organization.

• What happens when the structure or practices of governance are the problem?

• What ruler should internal audit be using to “assess” and “advise” governance, and can internal audit overstep its role?

• How does internal audit manage the delicate political balance in proposing, participating in, and reporting on a governance assessment where they are effectively reviewing their boss?

Submissions are due March 1, 2018.

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A Special Thanks

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A Special Thanks

Diamond Partners

Gold Partners

Larry Harrington, CIA, CRMA, QIAL

Wayne G. Moore, CIA

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Thank you

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