ending the new year with a successful event!...1:00 - 1:50 larry marinola data analytics - spotfire...
TRANSCRIPT
L E H I G H V A L L E Y I I A | C H A P T E R N E W S L E T T E R 1
L O G O H E R E
January 2012
December 13
th - Successfully Operating a Small Internal Audit
Department/Process -- Gary Gaugler
Ending the New Year with a successful event!
TABLE OF CONTENTS President’s Message ....................... 2 Lehigh Valley Chapter Events ...... 3-9 Technically Speaking …………….. 9 CIA Exam and Eligibility ............... 8-9 Member Tools ......................... 10-11 Chapter News……………………11-12 Lehigh Valley IIA Officers and Board of Governors ................................. 12
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PRESIDENT’S MESSAGE
Dear Members, I hope you had an opportunity to attend our free breakfast on December 13th at the Sheraton Four Points. The IIA currently has a recruitment program “Soar to Success” in effect to attract new members. In an effort to support this initiative our chapter mailed letters to local companies advising them of the benefits of being an IIA member and invited them to our breakfast. Gary Gaugler presented a two hour “Small Shop Auditing” presentation. Gary presented a comprehensive overview of Audit from A to Z. We had several companies at the event that were starting an Audit Department and had found Gary’s presentation extremely informative. I would like to thank Gary for his time and assistance in making this event so successful. Please don’t delay in registering for the Continuous Auditing event at Moravian College on January 13th. Deadline to register is January 7th so if you are planning any vacation during the holiday, it is bet to register now. We have a full line up on members from various companies in the Lehigh Valley that will be presenting various continuous auditing methods using different types of systems. We are also offering half day sessions and if you register 2 members/non-members from your company you get the 3rd registered person free! (Must be from same company) In addition, we are offering the same special discounted rates for our Audit Report Writing session in March, so don’t delay. As the year is coming to a close I would like to thank the Officers and Board of Governors for their support. Our last two events were very successful and I am hopeful that the balance of the chapter year will be as well. I want to wish everyone a safe, healthy & prosperous New Year! Kathy
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LEHIGH VALLEY CHAPTER EVENTS
SAVE THE DATE!!!!!!!!!
Date Event CPE Topic Location Speaker Cost
January 13
1 Day or ½ day
3 CPE-1/2 day 6 CPE-Full day
Best Practices on Continuous Auditing
Moravian College
Local Chapter
Members
½ day $75 Member/$100 Non Member or Full Day
$140/Member $165 Non Member **SPECIAL
REGISTRATION DISCOUNT
March 19 1 Day 8
Audit Report Writing
Walbert Learning Center,
Allentown Jim Roth
$250 member /$300 Non Member/ $50 Student
**SPECIAL REGISTRATION DISCOUNT
April 16-20
CIA Study Session/full
week TBD CIA Exam Review
Four Points Sheraton TBD
$1395 Member/$1495 non-member
Part 1,2, or 4-$299 per part-member/$319 per part-non-
member Part 3 - $589
member/$629 non-member
May 15 Social N/A
Iron Pigs Social Event
Iron Pigs Stadium N/A TBD
**SPECIAL REGISTRATION – Register 2 members /non-members from your company and get the 3rd registered person free! (Must be from same company) Event Cancellation Policy: Reservations for Chapter Events are first registered, first served. Payment for all events is preferred at the time of registration. Breakfast and Dinner meetings may be paid at the door, but cancellations after registration period cannot be refunded. Payments for any other Chapter event must be made no later than the close of the registration period. If payment is not made by this time, then “stand-by” registrants will replace unpaid registrants as attendees. The Chapter incurs fixed costs when arranging a Chapter event, so any cancellation (paid or unpaid) after the close of the event registration cannot be refunded, nor applied to a future Chapter event.
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Event Details
Continuous Auditing - January 13, 2012 Please note this event has a ½ day or full day option.
Event Time: 8:30- 9:00am Registration 9:00 am - 4:30pm Presentation Speaker: Local Chapter Members Credits: 3 CPE ½ day 6 CPE full day Location: Moravian College, Bethlehem, PA Our local chapter members will be presenting various methods of continuous auditing. We will be learning about the monitoring of expense reports, Account Payable and P Card through ACL as well as auditing dental and medical claims. We will be given an overview on FCPA monitoring through Spotfire and other continuous auditing through traditional software methods. Moravian students will also be attending and we will be having breaks in between the session to give them an opportunity to meet the members and ask questions about the presentations.
Speaker BIO’s
Walt Conway, CISA, has been the Information Systems Auditor for Lehigh University since January 1999. He received a Bachelor of Science degree in Finance/Computer Information Systems from Albright College in Reading, Pennsylvania and a Master of Business Administration degree from Lehigh University in Bethlehem, Pennsylvania. Prior to his employment with Lehigh, he worked for almost ten years in the corporate sector as a programmer, systems analyst, information systems auditor, operational auditor, and business analyst. Mark Fenstermaker, CISA and ACDA. He works in the internal audit department at Victaulic Company, the global leader in mechanical pipe joining products. Mark has worked for Victaulic for the past 5 years, all with internal audit. He was responsible for bringing ACL into the department and setting up and running Victaulic's continuous auditing plan. Mark received his ACDA (ACL certified data analyst) certification by examination in May 2011. Joe Blisko, CIA, is a Business Process Improvement Specialist for PPL Energy Services Group and has worked for PPL for 8 years. Prior to joining PPL Joe worked for a large international telecommunications company and an international bearing manufacturer. His current responsibilities include internal controls, fraud prevention, investigations, and internal reviews of operational and financial controls for his business unit. He held various roles in internal auditing at two companies and various financial positions. His prior work experience includes reconciling inventory and cash reconciliations and later auditing these processes. Joe has a Bachelor of Business administration degree with a major in accounting from the Pennsylvania State University.
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Larry Marinola, MBA, CIA, CISA is the Director of Corporate Audit at Merck & Co. Inc. Previously he was the Director – SAP Audit. Larry has worked for Merck for the past eleven years. Lorann Burkhardt has been an IT auditor for the internal audit department at Air Products and Chemicals in Allentown for over 4 years. She worked in the company’s Global IT Department for seven years prior to coming to the Audit in various roles including help desk, support/management, IT system security, and IT end user communications. She achieved her CISA in July 2009 and more recently her ACDA in April 2010. Jeffrey Johns, CIA, is a Senior Consultant with Financial Outsourcing Solutions specializing in providing internal audit services to financial institution clients. Prior to joining FOS, Jeff worked for BDO Seidman performing year-end audits, Sarbanes-Oxley compliance, financial statement preparation and review, and IT control assessments for private and publicly owned clients. Jeff holds a Bachelor of Science degree in Business Administration from West Virginia University where he dual majored in Accounting and Management Information Systems. While attending West Virginia University he studied abroad in Shanghai and Beijing. Additionally, Jeff has earned the highest rank attainable, Eagle Scout, with the Boy Scouts of America. Jeff is a Certified Information Systems Auditor (CISA) and is actively pursuing his CRISC designation. Jim Mahoney, CIA, CPA, CFE, is a Senior Audit Consultant for PPL Services and has worked for PPL for 10 years. His primary areas of audit responsibility are the Financial Department and Supply Chain. Jim received a BS in Accounting from Penn State and an MBA from DeSales University.
Agenda
8:30 - 9:00 Registration 9:00 - 10:30 Walt Conway The session is going to cover the hows and whys of data extraction so the auditor is more aware of some of the advantages and disadvantages of using certain tools depending on the business questions that need to addressed. Choosing the right tool for the situation can save the auditor both time and effort and ensure that the integrity of the data they extract is sound as well. The type of data being extracted and how it will be used has a bearing on the selection of the tool to be used also. 10:40 - 11:20 Mark Fenstermaker ACL – Continuous Auditing Accounts Payable, P Card and T&E 11:30 - 12:00 Joe Blisko The topic will be continuous monitoring of a business unit bank reconciliation process. The presentation will cover how cash balances associated with multiple bank accounts at 15 companies are monitored quarterly and the associated internal controls and segregation of duties. 12:00 - 1:00 Lunch – All you can eat Buffet luncheon 1:00 - 1:50 Larry Marinola Data Analytics - Spotfire 2:10 - 3:00 Lorann Burkhardt A script a day, keeps the auditors away. Lorann will explain how Air Products created continuous auditing scripts for the HR Department to monitor the accuracy of the medical and dental claims processing. HR now can run eligibility, deductible, co-pay and maximum tests as needed to confirm that the 3rd party vendor is compliant with the contract terms. 3:10 - 4:00 Jeffrey Johns IDEA Presentation 4:00 - 4:30 Jim Mahoney, ACL on analyzing quarterly inventory cycle counts
Cost - ½ day - $75 members/$100 non-members/$12.50 students/law enforcement/retirees Full Day - - $140 members/$165 non-members/$25 students/law enforcement/retirees
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Registration Please pre-register with Kathy Nesfeder at [email protected] or on the local chapter event site at www.theiia.org/chapters/index.cfm/view.events/cid/144. Advance payment can be sent to Gary Gaugler (Treasurer) at 4901 Kesslerville Road, Easton, PA 18040. Payment will be accepted at the door, but pre-registration is required by January 5, 2011.
Audit Report Writing - March 19, 2012 Event Time: 7:30- 8:00am Registration/Continental Breakfast
8:00 pm - 4:30pm Presentation Speaker: James Roth Credits: 8 CPE Location: Walbert Learning Center : 1639 Church Rd, Allentown, PA 18014
Course Summary
Join us to learn of the trends and innovations in Audit Reporting and how leading edge firms are writing user-friendly audit reports. Some highlights include:
The thought process for developing value-added audit findings
The three steps in the “smart” writing process – and why keeping them separate is the key to success
Use two powerful models and cut your writing time in half
Effective Self-Editing: read what you wrote, not what you think you wrote; get the fog out and the action in; keep it short, simple, and clear
Speaker BIO
James Roth, PhD, CIA, CCSA, is president of AuditTrends, a training firm devoted to identifying and communicating the best of current internal audit practice. Jim has been an internal audit practitioner or researcher and trainer since 1981. His publications include eight AuditTrends seminars and 14 major works for the IIA International, including:
Vision University (the IIA’s executive training program)
Best Practices: Value-Added Approaches of Four Innovative Internal Auditing Departments
Adding Value: Seven Roads to Success
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In 2008 the IIA gave Jim the Bradford Cadmus Memorial Award, which was “established…to honor
individuals making the greatest contribution to the advancement of the internal audit profession.”
Jim is uniquely qualified to teach this session. Before becoming an internal auditor, he earned a PhD in English Literature and taught University level writing classes, including business writing, for ten years. An energetic and motivating speaker, Jim is one of the profession’s most highly rated presenters. For more information, visit www.audittrends.com.
Cost - $250 members/$300 non-members/$50 students/law enforcement/retirees **Special Registration – register 2 and receive the 3rd registration free (must be with same company) Registration Please pre-register with Bill Lees at [email protected] or on the local chapter event site at www.theiia.org/chapters/index.cfm/view.events/cid/144. Advance payment can be sent to Gary Gaugler (Treasurer) at 4901 Kesslerville Road, Easton, PA 18040. Payment will be accepted at the door, but pre-registration is required by March 9, 2011. Subject: Lehigh Valley IIA now offers Certified Internal Auditor Courses
Create your path to CIA® success. Introducing The IIA’s CIA Learning System™ Course at the Four Points Sheraton The Lehigh Valley IIA chapter and the Four Points Sheraton in Allentown, PA have joined forces to offer an instructor-led course based on The IIA’s CIA Learning System. This course will expand your internal audit knowledge and prepare you for the Certified Internal Auditor
® (CIA
®) exam.
This program is designed primarily for individuals interested in preparing for the CIA exam, achieving professional
advancement, and building confidence for addressing today’s internal audit challenges.
Course Materials: The IIA’s CIA Learning System This course is based on The IIA’s CIA Learning System, a premier-quality CIA exam preparation tool, designed by subject matter experts to teach the entire global CIA exam syllabus.
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The IIA’s CIA Learning System program is delivered in a blended learning format of printed workbooks and Web-
based learning software. To take a demo of these materials, visit www.LearnCIA.com. These tools are augmented
by the expertise of an experienced instructor. The classroom environment allows for interaction with your peers
and the instructor, and also provides structure to keep you on track to meet your goals.
The following courses are available at the Four Points Sheraton in Allentown, PA.
Course Dates
Part 1: The Internal Audit Activity’s Role in Governance, Risk, and Control
April 16, 2012
Part 2: Conducting the Internal Audit Engagement April 17, 2012
Part 3: Business Analysis and Information Technology April 18, 2012
Part 4: Business Management Skills April 19 & 20, 2012
Dates are subject to change. Please verify before registering.
Whether you are a CIA candidate, a manager seeking training for your staff, or a student just starting out, The IIA’s CIA Learning System course can help you accomplish your certification and professional development goals.
Kathy Nesfeder @ [email protected], 610-559-3569 The IIA’s CIA Learning System is developed independently of The IIA’s exam development function and uses syllabus information that is publicly available.
TECHNICALLY SPEAKING **Check us out in February 2012 for more technically speaking **
Technically Speaking enables our Chapter to share and discuss technology related issues pertinent to internal auditors and their organizations. Please provide ideas, topics, or suggestions for Technically Speaking to Walt Conway, [email protected] Chairperson for the Advanced Technology Committee.
CIA EXAM AND ELIGIBILITY
Prepare to Pass the CIA Exam.
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If you’ve made the decision to enhance your career by earning the Certified Internal Auditor® (CIA®) designation, Lehigh Valley IIA 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 resources:
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 www.LearnCIA.com/overview. Wondering how long it will take you to prepare for the exam? Create your free, personalized study plan at
www.LearnCIA.com/my-cia-review-plan.
The certification program’s eligibility policy has changed, requiring candidates to complete the program certification process within four years of application approval. If a candidate has not completed the certification process within four years, all fees and exam parts will be forfeited. For more information about The IIA’s certification program, visit www.theiia.org/certification. Accomplish Something Big This Summer. Earn the Certified Internal Auditor® (CIA®) Designation. Obtaining the CIA designation has helped thousands of exceptional internal auditors and professionals broaden their knowledge, elevate their job performance, increase their earning potential, and advance their careers. With your ability to apply, register, and schedule your exam parts online, you can make obtaining the CIA designation a goal in 2011. Visit www.theiia.org/CIAwaiver to learn how to take advantage of this great opportunity. The LV IIA will reimburse any member the for the application fee for the CIA exam. A $75 value! Please contact Gary Gaugler, Treasurer, for more information. This is a limited offer based on available remaining funds. Need help with your CIA exam preparation? Join an online CIA review class. Are you preparing for the Certified Internal Auditor® (CIA®) exam? Do you prefer interactive instructor-led training, but haven’t found the right course or the time in your schedule? Check out The IIA’s CIA Learning System™ online instructor-led courses. For a complete and current list of courses, visit www.LearnCIA.com/classes-offered. Contact the course provider directly for tuition and registration details.
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MEMBER TOOLS
IIA Chapter Website
Checkout our Chapter’s website at: http://www.theiia.org/chapters/lehighvalley
Here is some of the information you can find on our website:
A listing of our past presidents
Our committee members, officers, and BOG members
Our chapter by laws and chapter goals for 2011
Links to the IIA’s member exchange
Links to the new IPPF
Links to update your profile with the IIA
Updating Your Member Information
The member profile form is directly connected to the IIA membership database. This means when you update your information on-line it is instantly updated in the IIA database. This is the best and quickest way for you to update your information. This will also help the Chapter in maintaining accurate information on all of our members. So please update your personal information using the on-line link provided.
You can check your information on-line, right now! All you need is your ID and password. The link is: https://www.theiia.org/iia/profile/index.cfm. Please note: E-mail and address changes will not be updated for Chapter purposes unless you have updated with the IIA. The Chapter is unable to update this information for you.
Member Exchange Have you heard? Everyone's checking ME out! The IIA Member Exchange (ME) is a new online networking tool designed to connect you with fellow members with similar interests. Check out ME today!
IIA Bridge Membership Program for Unemployed Members
In today’s downturn economy, it is critical to stay ahead of the competition and stay current in your career. Your IIA membership affords you that opportunity. IIA members who are unemployed due to the current
economic environment and are actively seeking employment may apply to The IIA Bridge Membership Program components:
One-time, one-year complimentary individual membership and Online access only to Internal Auditor Magazine To qualify for Bridge Membership, you must be an active member of The IIA for the past two or more years and actively seeking employment. To take advantage of this opportunity, you will need to download the application
form and submit a written est certifying you are unemployed and meet the qualifications of the program. All documents should be sent to: [email protected] and include your current IIA member
number. If you have additional questions regarding this program, please e-mail
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Social Media: A benefit with No Boundaries Are you LinkedIn? LinkedIn is a business networking tools that helps you strengthen and extend your existing network of trusted contacts. LinkedIn groups allow you to communicate easily with all members of your group; it allows you to grow your network. The IIA shares recent news and products of interest to internal auditors and provides a discussion forum where participants can share professional insight, ask and answer questions, and interact with other internal audit professionals. LinkedIn groups allow you to initiate and participate in discussions and share news articles and blogs. The Lehigh Valley IIA actively posts all IIA news to this website. To join the IIA Lehigh Valley group, please log on to: http://www.linkedin.com/groups?gid=2103301
CHAPTER NEWS
Welcome to the chapter – Alyssa Storm from Victaulic Company!
Alyssa Storm is currently a Tax Accountant at Victaulic Company, and alos a 2011 graduate from the University of California, Santa Barbara. Alyssa is currently working toward completing the CPA exam, and hopes to have the exam wrapped up by Fall 2012. In her spare time, she likes to surf, snowboard, cook, travel, and spend time with friends and family. Alyssa also hopes to gain a lot of insight in Internal Auditing through the various opportunities that the IIA provides.
NOW BROADCASTING!!!! IIA launches new video-sharing site. Audit Channel.tv addresses the specific needs of internal auditors and the business community! Check out the website for more details! http://www.auditchannel.tv .
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Thank you to Victaulic for your support at the December 13th event!
LEHIGH VALLEY IIA OFFICERS AND BOARD OF GOVERNORS
OFFICERS PRESIDENT KATHY NESFEDER 610-559-3569 [email protected] VICE PRESIDENT JASON SLABIKOSKY 610-774-2831 [email protected] VICE PRESIDENT KEVIN HALLMAN 610-807-8093 [email protected] TREASURER GARY GAUGLER 610-559-3512 [email protected] SECRETARY TONY SABINO 610-559-3766 [email protected]
BOARD OF GOVERNORS
2012 2013 2014
ED BLANCO MARIANNE MARKS JOHN FALK JIM MAHONEY BILL LEES
JODI HARTZELL DOREEN WYNN DARIN LUEDERS LARRY MARINOLA WOODY HAMIL MARK YODER