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Donor Spotlight

Make a Lasting Contribution Through a Donor-Advised Fund

Have you ever considered using a donor-advised fund to support the internal audit profession? In addition to great tax benefits, it is one of the most convenient ways to give and consistently support the Internal Audit Foundation.

Kevin Cantrell, CIA, and Frank O’Brien, CIA, QIAL, are two long-time internal audit professionals and donors to the Foundation who have given their time, treasure, and talent to support their profession for many years. They are also two of many Foundation donors who prefer to give through a donor-advised fund.

“Giving needs to become a routine that is easy to follow,” says Kevin. “Setting up a donor-advised fund is not a complicated process. It can be created and managed 100% online, and you don’t need a large sum of funds to establish one. If you want to have a lasting contribution, giving on an annual basis needs to be routine. Giving through a donor-advised fund is a way to ensure continuity year after year.”

“My only regret is that I didn’t do it even sooner,” says Frank. In addition to tax advantages, a donor-advised fund helps with budgeting your donations throughout the year. Kevin says he likes that you can “set it and forget it.”

“For those looking to create a legacy, a donor-advised fund is another vehicle to keep giving in perpetuity. You can make arrangements to donate all of the remaining funds to a good cause like the Foundation,” says Frank.

Kevin and Frank both support the Foundation because they believe in giving back to the profession that has been good to them. “The Foundation matters,” says Kevin. “A gift to the Foundation is an investment in the profession and in yourself. If everyone gives even a little, it adds up and makes a huge difference in the Foundation’s ability to serve our profession and each of us.”

Frank calls giving to the Foundation “a joy,” adding, “The Foundation has a significant role in advancing the profession, and its influence has been critical to what our profession has become. We owe it to those who came before us and also to those who will come after us.”

The Foundation appreciates its donors who give through donor-advised funds. If you have an interest in supporting the Foundation through a donor-advised fund, please consult with your financial advisor or contact Foundation@theiia.org.

Kevin Cantrell Frank O'Brien
​Kevin Cantrell, CIA, has been involved with the IIA–Houston Chapter for more than 20 years, having served on the chapter’s board of governors, chaired its audit committee, and served in national and global liaison roles. He has also been involved extensively with the Internal Audit Foundation, serving as chair and vice president of the Financial and Development Committee. He has been with Plains All American Pipeline since 2009, and currently serves as vice president of internal audit. ​Frank O’Brien, CIA, QIAL, spent 38 years in the internal audit profession before retiring recently. He has served as president of the IIA–St. Louis Chapter and also as a district representative for the Midwest region. He was the first chair of the IIA North American Committee, and has also served as vice chair of the Committee of Research and Education Advisors (CREA) and as president of the Internal Audit Foundation.

AFIIA Takes a Leading Role by Partnering With the Internal Audit Foundation

When Emmanuel Johannes, CIA, CCSA, CGAP, became chairman of the African Federation of Institutes of Internal Auditors (AFIIA), his main goal was to invest in the worldwide profession. One of the ways Emmanuel and AFIIA are doing this is by partnering with the Internal Audit Foundation to sponsor critical research projects and publications. Their first sponsorship, in partnership with 12 African Institutes, will be of an upcoming book on audit reports of the future. It will explore the gap of expectations in report writing and offer opportunities to shift to a more modern, forward-looking report format that builds from the foundation up in a thoughtful, methodical way.

As an associated organization of The Institute of Internal Auditors (IIA), AFIIA exists to support and promote the profession in Africa. It was created in May 2009 to provide a non-political, unified voice of the members of the African continent on common issues, to collaborate in a manner which will best serve the interest of all African IIA members, and to promote and develop an effective internal audit profession supported by strong, recognized institutes.

Currently, there are 29 IIA affiliates in Africa, and AFIIA is working to increase that number. “We want to create a united voice for Africa,” explains Emmanuel, who has seen his share of changes and challenges in the 15 years he has been involved with his local chapter and as a volunteer on IIA Global committees. “Today, leveraging the resources of our more established affiliates, hosting combined events, and engaging more with governmental regional bodies to create new legislation to advocate the profession all are key,” he says. AFIIA offers ongoing programs, educational presentations, and regional conferences that are beneficial to the members of their IIA affiliates and beyond.

7th AFIIA 
 
AFIIA Chairman Emmanuel Johannes (far right) with the leadership of IIA Tanzania and the technical support team at a recent AFIIA hybrid conference.

The Foundation thanks AFIIA and the partnering Institutes for their support. “It's important for us to have a continued role with the Foundation. We are looking forward to other collaborations in the future,” says Emmanuel. Institutes partnering with AFIIA to sponsor the upcoming book on audit reports of the future are IIA Ghana, IIA Mali, IIA Kenya, IIA Côte d'Ivoire, IIA Congo (DRC), IIA Uganda, IIA South Africa, IIA Morocco, IIA Malawi, IIA Tanzania, IIA Zambia and IIA Zimbabwe.

If your chapter or affiliate would like to partner with the Foundation on research and educational projects, please contact foundation@theiia.org.

 

Join Richard Chambers in Honoring Internal Auditors

 

Richard ChambersAs the former president and CEO of The IIA, Richard Chambers remains instrumental in elevating the profession. Richard plans to continue donating the royalties from his book sales to the Foundation in honor of practitioners around the globe. His most recent book, Agents of Change: Internal Auditors in an Era of Disruption, currently is on the IIA Bookstore’s best-selling list.

 

Richard’s previous books include Lessons Learned on the Audit Trail (2014), Trusted Advisors: Key Attributes of Outstanding Internal Auditors (2017); and The Speed of Risk: Lessons Learned on the Audit Trail, 2nd Edition (2019).

Richard's Book CoversThrough his generosity, Richard honors internal auditors everywhere, and the Foundation thanks him for his longstanding support.

You too can honor fellow practitioners or Richard’s exemplary service as past president and CEO of The IIA during International Internal Audit Awareness Month.

I want to honor a fellow practitioner.

I want to honor Richard Chambers.

Bruce R. Turner, AM, CRMA, CGAP

Knowledge Contributors: The Backbone of the Internal Audit Foundation

Bruce TurnerWhen Australia-based Bruce R. Turner decided to retire in 2012, he had a firm plan in place. “We all have a different idea of ‘retirement’, and mine just happened to include professional writing,” he said. That decision was definitely a plus for the Internal Audit Foundation.

Bruce has more than 40 years of practitioner and leadership experience in internal auditing across the globe. He is a past chair of The IIA’s Global Public Sector Committee, served on the IIA–Australia Board, and remains an active executive coach, mentor, and white ribbon ambassador (denouncing violence against women). He has recruited dozens of new auditors into internal audit roles throughout his career and watched proudly as their careers blossomed.

His relationship as an author with the Foundation began when he chaired The IIA’s Global Public Sector Committee and wrote a Common Body of Knowledge (CBOK) study report published by the Foundation, GREAT Ways to Motivate Your Staff. That opened the door even wider, leading to opportunities to write books that provide insight for those new to internal auditing as well as for seasoned professionals who are in leadership roles. He also served as a contributing author for Sawyer’s Internal Auditing: Enhancing and Protecting Organizational Value, 7th Edition.

So far, he has authored three books published by the Foundation:

  1. New Auditor’s Guide to Internal Auditing, 2019, sponsored by IIA–Toronto, gives practical insights to practitioners who come to internal auditing from a different profession (for instance, a nurse who moves into medical internal auditing).
  2. Team Leader’s Guide to Internal Audit Leadership, 2020, recognizing that chief audit executives (CAEs) are increasingly moving into the C-Suite, this is a practical guide for those who need to take on some of the functions the CAE would have traditionally handled.
  3. Powering Audit Committee Outcomes: The Essential Guide, 2020, sponsored by Galvanize. This book provides support to chairs and members by offering the tools to be a leading practice audit committee.
Bruce Turner Group Photo 
Bruce (center) holding the ‘world class chief internal auditor’ goblet with some members of the Australian Taxation Office Internal Audit Team.

Bruce reflects that the books he has written are a tribute to the people with whom he worked as a CAE. He says, “The books share practical ideas that ultimately help to build a stronger internal audit profession, and more effective governance, risk, compliance, and assurance practices.”

What advice does Bruce give to internal audit professionals who also are contemplating becoming writers? Don’t worry too much about where you are in your career. “For some who lead busy lives and have lots of commitments, that opportunity might come in the twilight years of their career. That is how it worked for me,” he explains. “But for a younger professional, a good first step is to start writing some publications—such as white papers for a local IIA institute—and build from there so that by the time they want to become a knowledge contributor with the Foundation, they’ve actually developed their writing skills with professional publications.”

The Foundation is grateful for the partnership with Bruce and his willingness to share his expertise with internal audit professionals. If you would like to learn more about becoming a Foundation Knowledge Contributor, please visit Become an Author.

IIA-Chicago Chapter: A Priority of Giving Back

IIA Chicago Board Members
IIA Chicago Board Members

The IIA–Chicago Chapter’s mission may sound simple: to add value to its members and give back to the internal audit profession. But it takes a dedicated team of committed volunteers to achieve the goals of The IIA’s third oldest chapter and sustain continued success.  

Chapter leadership believe that education is key. The chapter regularly provides four or five monthly training opportunities, a flagship annual seminar, an annual three-day hacking conference, and its government advisory FIT (Fall into Training) event. This year’s annual seminar, the chapter’s 60th annual, will be held on March 8, 2021. The seminar will be held 100% online and include speakers, networking, and virtual vendor booths. While the event has traditionally attracted 1,100+ internal audit professionals from Illinois, Wisconsin, and Indiana, the virtual nature will accommodate attendees from around the world.

Chapter leaders also know that engaging members through networking and social activities is important. With COVID-19 safety measures in place, they have been creative with alternatives to traditional “in-person” events. They now hold virtual versions of events such as trivia nights, escape rooms, and happy hours hosted by mixologists.

The future of the profession is also a priority and a significant part of the chapter’s mission. For many years, the chapter has provided scholarships to students majoring in internal auditing at DePaul University in Chicago. Beyond education, their successful Next Generation Advisory Group was created as a networking and leadership development vehicle to engage members who are early in their internal audit careers.  

Taking care of their members is crucial, but there is even more for them to do when it comes to the future of internal auditing and the next generation. Chapter President Steve Randall explains, “It is important for chapters to financially give back to the profession and I’m proud to say that Chicago is committed to doing so. Each year, we put funding for the Internal Audit Foundation in our budget and have a committee to make sure it actually happens. I would highly encourage all chapters to do this.” The chapter supports both the Foundation’s research and academic funds.

Partnering with the Foundation in other ways is so important to their mission that a designated chapter member regularly reviews opportunities, such as publication and research support, to help determine the best fit for the chapter. For instance, the new CRMA Exam Study Guide and Practice Questions, 2nd Edition, is co-sponsored by the IIA–Chicago and IIA–Philadelphia Chapters. “We are providing support for this study guide because it was the most applicable to the most number of internal auditors, and we wanted to do something that was especially relevant to the profession,” says Kyle O’Rourke, CIA, CGAP, the chapter’s senior vice president. “CRMA is a great foundational certification for everyone, whether you are in an internal audit role, risk and compliance role, or running your organization’s ERM program,” he adds.

The Foundation thanks the IIA–Chicago Chapter for its past and ongoing support. If you, your chapter, or affiliate would like to learn more about sponsoring publications or research, please email us at foundation@theiia.org.

Mark Carawan, CIA, QIAL, CFIIA

A Journey from Classics to Compliance via Internal Audit

Mark CarawanMark Carawan, CIA, QIAL, CFIIA, started his professional career in a completely different sphere from internal auditing. There was something else that captured his interest as a young man — researching and teaching classical studies. Mark initially served as Chair of the Department of Languages at Blair Academy in the United States before completing a Ph.D. in humanities (such was the name of the Latin and Greek Department at the University of St. Andrews in Scotland).

While Mark enjoyed delving into ancient tomes of neo-Latin poetry, he wanted to experience the world more broadly, so he embarked on a career in chartered accountancy and external auditing. He then focused on winning mandates in corporate finance and privatizations and leading projects in governance and risk management. Ultimately, this path led him to become a chief audit executive (CAE), first at Barclays Group in London and then at Citigroup in New York. Subsequently, Mark was appointed chief compliance officer (CCO) at Citigroup. He says, “Internal auditing gave me an opportunity to ‘touch’ every part of the organization around the world and work directly with the group board of directors. I realized through these interactions that internal auditing contributed to setting the tone of an organization’s culture.”

Mark has been a global IIA and IIA ̶ UK leader for many years. He believes the Internal Audit Foundation has a vital role in providing thought leadership and essential tools for practitioners to do their jobs with competence and integrity. Sponsoring a publication was a way for him to contribute to the future of the internal audit profession.

Recently, Mark was one of the sponsors of the Foundation’s book, Understanding and Auditing Corporate Culture: A Maturity Model Approach, by Angelina Chin, CIA, CRMA, CPA. He says, “I was very enthusiastic about supporting this publication. Knowing how to audit culture is an essential tool for a practitioner. The topic has applicability in every industry and sector. When internal auditors create a roadmap to improve and add value to an organization, they need to factor in the role of culture. An ethical culture drives the quality and character of decision making and underpins long-term success. Internal auditors play a crucial role in assessing this dynamic.”

In today’s world, where COVID-19 has affected organizations at many levels, Mark points out that practitioners need to be sensitive to the impact of the new work environment, and the diverse circumstances and needs of the individuals who comprise the community of employees. He says, “The workplace has historically been the common ground for bringing colleagues together, establishing work expectations, processes, and controls, thereby defining, in part, the organization’s culture through demonstrating the ‘tone from the top’.  Now that the workplace has shifted to a myriad of remote locations, each with their individual nuances, the approach must change. Internal auditors face the challenge of evaluating new processes and the impact of the complex changes being embraced every day in a more digital environment. Supervision and oversight have evolved. Culture plays an even more important role in the work environment today under these new and transforming conditions. The internal auditor must be alert to these shifts and agile in addressing them.”

He says, “It is important to help internal audit professionals optimize the value of what they do during these changing times, and that is exactly what the Foundation does for the profession. Support for it has always been important, but even more so today.”

Visit the IIA Bookstore to learn more about the timely publication, Understanding and Auditing Corporate Culture: A Maturity Model Approach, sponsored by Mark Carawan and IIA ̶ Chicago.

IIA ̶ Dallas Chapter: A Large Chapter Getting Things Done With a Small Chapter Approach

While The IIA ̶ Dallas Chapter is one of the largest in North America, it is known for having the qualities offered by a smaller chapter. “We all know each other and we are like family,” says Jon Voorhies, CIA, CCSA, CFSA, CRMA, president of this busy and philanthropic group. This is obviously one of the secrets to its success.

Speed Interview
Practitioners meeting one-on-one with students in the chapter's annual Academic Relations Month "speed interviewing" exercise.

Educating its members and the students who will be entering the profession in the future is what the chapter is all about. Whether offering low-cost, relevant, and current CPE topics, assisting with CIA exam costs, producing major annual conferences, or sponsoring and supporting the University of Texas at Dallas Center for Internal Auditing Excellence, IIA ̶ Dallas is on track with its priorities and goals.

The chapter’s relationship with the Internal Audit Foundation has been a longstanding and beneficial one, and IIA ̶ Dallas recently sponsored the Foundation’s latest research report, Defining, Measuring, and Communicating the Value of Internal Audit: Best Practices for the Profession. Immediate past president Chris Lewis, CIA, CRMA explains that it was an easy decision for The IIA ̶ Dallas Chapter to become a premier sponsor. “It was the right research, the right topic, and the right time,” he explains. “It provides important advice on how to define and measure your added value as an internal auditor, and how to communicate that value to your stakeholders.”

Larry Harrington
Larry Harrington and Sergio Abraham delivering the morning keynote address to an audience of 1,050 attendees at the 8th Annual Dallas IIA Super Conference in 2019.

The chapter raises the majority of its funds to benefit the Foundation through two annual large-scale events: the Super Conference and the Fraud Conference. They both have grown tremendously over the years, and it is not uncommon to for these conferences have more than 1,000 attendees made up of not only professionals, but also students.

“We know student engagement is important,” says Joseph Mauriello, CIA, CFSA, CRMA, a past president, current conference chair, UTD IAEP Director, and member of the chapter’s board of governors, “We are invested in moving them forward.” The UT Dallas IIA student chapter has 130 members, and many of them are active in The IIA ̶ Dallas Chapter as they prepare to be successful internal audit professionals through chapter and educational events such as “speed interviews” (where they learn about the social aspects of interviewing with top internal audit professionals), networking events, volunteer opportunities, and other student engagement activities throughout the year. In addition, IIA ̶ Dallas, through its partnership with the UT Dallas Center for Internal Auditing Excellence, awards $30,000 each semester to deserving internal audit students.

The Internal Audit Foundation is grateful for the support and generosity of The IIA ̶ Dallas Chapter. “Supporting the Foundation is about doing the right thing for the profession,” says Joseph. “We hope other IIA chapters see this value as well.”

You can get the research report, Defining, Measuring, and Communicating the Value of Internal Audit: Best Practices for the Profession,for free. Download your copy.

 Studen Volunteers
Student volunteers at the 8th Annual Dallas IIA Super Conference in 2019 with Chris Linsteadt, associate director, Center for Internal Auditing Excellence (left) and Johseph Mauriello (right).

FLAI Partners With the IAF on New COVID-19 Fraud Report

IIA Houston Chapter

The Internal Audit Foundation is fortunate to have partners around the world. As part of the Foundation’s COVID-19 content series, the Latin American Foundation of Internal Auditors (FLAI) recently sponsored the report, A Blueprint to Managing Corporate Fraud Risk During a Pandemic.

FLAI promotes and supports the continuous development of the internal audit profession in Latin America, fostering regional cooperation and integration. It is associated with The Institute of Internal Auditors (IIA) and represents 16 regional Institutes of Internal Auditors with more than 13,500 members.

Authored by Nelson Luis, MBA, CFE, CFI, the report offers a practical approach to directly address the scenario of an increased risk of fraud in organizations due to the pandemic. The report covers vulnerability assessment, risk mitigation, and fraud alert monitoring.

While FLAI has previously sponsored the translation of existing Foundation research and publications, this was the first time it sponsored original content. “We are happy to support this project, and we appreciate that the IAF offers this type of opportunity,” says Jorge Badillo, chairman of the board for FLAI. “This was a new way for us to generate content and knowledge for the internal audit practitioner, and we are interested in contributing to the global fight against fraud and corruption.”

The Foundation thanks FLAI for its support. To download the free report, A Blueprint to Managing Corporate Fraud Risk During a Pandemicvisit our COVID-19 Resource Exchange Partner Content ​page. If you, your chapter, or Affiliate would like to learn more about sponsoring a whitepaper report, please email us at foundation@theiia.org.

 

 
 2019 FLAI Leaders Workshop held in Asunción– Paraguay.

 

Yulia Gurman, CIA

Chief Audit Executive
Packaging Corporation of America
Leadership Society Member

Yulia-Gurman.jpgDeveloping solutions to respond to current and future trends in internal audit is one of the many reasons Yulia Gurman volunteers on the Committee of Research and Education Advisors (CREA).

“There are so many advancements in technology that internal auditors are required to rapidly adapt and prepare themselves to respond to new regulations and emergent risks. For CREA, we are tasked with identifying these trends and quickly developing resources, such as books, manuals, and digital content, to support practitioners.”

CREA is a committee of the Internal Audit Foundation, which raises the funds needed to develop such resources.

Yulia’s volunteerism began with her local chapter, IIA–Chicago. Through her colleagues and peers, she learned about opportunities to serve on The IIA’s global committees.

IIA Houston Board members and volunteers
Yulia Gurman with CREA members- July 2018

In her role with CREA, she enjoys providing input on the proposals for content and later reviewing drafts of the research and educational publications in development.

“I have found through my volunteer roles that I can give back and support the profession. If we all take part in such a collective effort, we can have an even greater impact.”

Learn more about the Foundation and ways to get involved as a knowledge contributor or philanthropic partner.

IIA–Houston Chapter: Activity, Engagement, and Commitment

IIA Houston ChapterAs the second largest IIA chapter in the United States, with more than 2,400 members, the Houston Chapter does not take its mission lightly.

Kevin Cantrell, CIA, a member of the Houston Chapter’s Board of Governors and the Internal Audit Foundation Leadership Society, describes the Houston Chapter in three words: active, engaged, and committed. “We actively serve the chapter’s membership by continuously offering educational and networking opportunities, we purposefully engage in activities intended to promote the profession and build future leaders, and we commit considerable time and financial resources to support and elevate the profession locally, regionally, and globally,” he says.

IIA Houston Board members and volunteers
IIA Houston Board members and volunteers.

Whether it be offering high-quality and relevant education and training, nurturing the next generation of internal auditors, or giving financial support to critical projects, the members of the Houston Chapter understand what it means to elevate the future of the profession.

“We feel a strong obligation to support the profession and the evolution of audit skills, thought leadership, and publications produced by the Internal Audit Foundation,” explains Brandon Tanous, CIA, CGAP, CRMA, president of the Houston Chapter. Over the past five years alone, the chapter has donated more than $300,000 to the Foundation for internal audit-related projects. Their support does not stop there; every officer and member of their Board of Governors also individually supports the Foundation.

Celebrating the 10 year anniversary of IIA Houston Annual Conference
Celebrating the 10 year anniversary
of IIA Houston Annual Conference.

The next generation of internal auditors benefits from the chapter’s generosity as well. It provides major support for student scholarships and endowments at The University of Houston and Texas A&M University. Many chapter members are active as instructors and speakers, sharing valuable real-world knowledge and experiences with students. The chapter has also started a Young Internal Audit Professionals Group, which is “important to promote the profession to the next generation of auditors through networking and social events,” says Larry Abston, a past president and current Board of Governors member.

Because IIA–Houston knows the value of what an established chapter can bring to its members, it has provided financial and administrative support to new chapter startups, most recently to IIA–Brazos Valley Chapter.

The Internal Audit Foundation commends the Houston Chapter for its exemplary support.

Learn more about ways to get involved with the Internal Audit Foundation.

Glenn Ho, CIA, CRMA

Chief Audit Executive
Mediclinic International
Leadership Society Member

Glenn HoWhile Glenn Ho’s career began in public accounting, he discovered he had the ability to help his clients become more strategic and efficient. That prompted him to think, “Wouldn’t it be great to do this all the time?” His involvement in these ‘value added’ areas is what motivated him to narrow the scope of his career. He decided to become an internal auditor.

Glenn is not only a member of the Internal Audit Foundation’s prestigious Leadership Society, he also has been a volunteer and supporter of The Institute of Internal Auditors for more than 22 years. Over those two plus decades, it is not surprising that he has seen major changes in the world of internal audit. “We have a whole new set of professional challenges in areas like cybersecurity. We are now looking more at the impact to the broader community, not just within the organization itself,” he says.

The good news, he says, is that internal auditing is constantly evolving, and management and stakeholders have come to appreciate its many benefits so much more. “There is more acknowledgment than ever, and we are now considered trusted advisors — a player at the table. This is critical for us to be effective at what we do,” Glenn says.

On an ongoing basis, the Foundation conducts research and produces publications and resources on key topics, and Glenn has acquired a large collection of these books. “The Foundation is a leader in responding quickly and effectively to help internal auditors ‘up their game.’ I refer to these publications often. Sometimes, even a single page or checklist from those publications can be of significant help,” Glenn explains.

“The internal auditor of the future will be concerned with critical thinking, independence, and objectivity,” says Glenn. “Being a good corporate citizen will be more important than ever. The Foundation exists for the greater good of the profession, and it helps us grow our careers. Supporting the organization is important to our future — both individually and as a profession.”

Learn more about the Foundation’s publications and Leadership Society.

Jingwen "Grace" Wu, CIA

Compliance Manager
Silicon Valley Bank

Grace WuWhen Grace Wu first learned about internal auditing, she already had a business degree and experience in the field of human resources. But her interests became even more focused as she pursued her MBA at Louisiana State University, an Internal Auditing Education Partnership (IAEP) school. That is where, she says, “the gate leading to the world of internal audit was opened for me.”

Today, she is the compliance manager for Silicon Valley Bank and also president-elect of The IIA–San Jose Chapter. Though still in the early part of her career, Grace knows that giving back to her profession is crucial and she leads by example. “The IIA is the voice of our profession, and so many practitioners benefit from the great value the Internal Audit Foundation provides. Why would we not want to support something that helps us and the future of internal audit so much?” she asks.

While there are many traditional ways to support The IIA and the Foundation, such as financial and knowledge contributions and volunteering, Grace is always seeking additional means to give back, and she is the connection between her company’s grant program and the IAF. She goes the extra mile by working with the Silicon Valley Bank Foundation to obtain significant grants. Over the past two years, she has worked diligently to secure $15,000 for the Internal Audit Foundation. “SVB has a very well-established granting program to support employees in improving the community and enhancing the lives of those around us, and we are encouraged to apply on behalf of our favorite charitable organizations. They make it quite easy for us to apply,” she explains.

You, too, can help the Foundation by following Grace’s advice to check with your employer about possible grants or matching gift opportunities. When applying for a grant, she offers this tip: “Remember to be specific about how it would impact the IAF and include information in the grant package to explain this further.” For more information on supporting the Foundation, please email foundation@theiia.org or call +1-407-937-1218.

Nicholas C. Saracco, CIA

 

Leadership Society Member

Inspired by the Passion of Others

 

Nicholas C. SaraccoWhen he graduated from the University of Notre Dame in 2002, Nick Saracco thought he wanted a career in public accounting. Little did he know that his path would lead him to his true passion: internal auditing. And now, as our newest Leadership Society member, he’s investing in the future of the profession.

In his current role of advisory principal in Grant Thornton’s Business Risk Services, he knows firsthand the value of the Foundation’s many resources. “The Foundation is delivering the tools that prepare internal auditors to gain the skill sets they need to tackle the technological challenges of today and the future. This is why we have partnered with the Foundation on many projects over the last few years,” Nick explains. Most recently, Grant Thornton sponsored data analytics research that provides the tools practitioners need to become more efficient in their data mining and framework maximization efforts.

Encouraged by his colleagues, he got involved in his local IIA Chicago Chapter. He was deeply inspired by the passion and commitment of his fellow volunteers and began, a short time later, to take on important leadership roles. He currently serves as vice president of operations.

“The IIA Chicago Chapter also has sponsored many of the Foundation’s resources and publications. The chapter leadership is proud to be able to give back to the profession.” Nick says. “But it also is important that we participate at an individual level.” This year, Nick decided to join the Leadership Society, made up of the Foundation’s most generous donors. Leadership Society members play a vital role in helping ensure excellence, innovation, and progress of the Foundation. “I am proud to be able to step up and invest in the Foundation mission. With today’s corporate changes, internal auditors need to invest in innovative solutions to drive our profession forward,” Nick shared.

Tania Stegemann, CIA,CCSA, CRMA

Director of Compliance
Catholic Professional Standards Limited
Leadership Society Member

Tania StegemannTraining others is one of Tania Stegemann’s greatest passions. That’s how she first became involved with her local IIA chapter in Queensland, Australia. Persuaded to become a training instructor because of her experience in internal and external audit with KPMG and Ernst & Young, she was a perfect fit. As she became more involved, she was invited to join IIA–Australia’s Board of Directors. It was her national work that introduced her to IIA Global committees, where she has served for many years.

Currently, as chair of The IIA’s Committee of Research and Education Advisors (CREA), her role involves identifying opportunities to support internal auditors around the world based on their professional needs. CREA is driven by the mission of the Internal Audit Foundation (IAF) and oversees the development of research and educational publications to advance the profession globally.

“The state of internal audit is very different in every region around the globe. Many countries have strong governance and regulations, and they need advanced IAF resources on topics such as artificial intelligence and emerging technologies. There are other regions, however, where internal audit is still in an emerging phase, so their needs are based on acquiring fundamental tools and techniques,” says Tania.

Tania is excited about the many important IAF projects in the production pipeline, such as a book on auditing corporate culture, key research on disruptive innovations, and an educational guide on data analysis. Another vital research project involves defining and measuring the value of internal audit, which she explains “will provide a framework on how we articulate the value of internal audit and assist CAEs in implementing successful approaches for measuring, monitoring, and communicating value to stakeholders.” The Foundation is currently accepting sponsors for this publication. Sponsors will be listed in the publication.

“The IAF relies on individual and corporate sponsorships to fund the development of publications and research opportunities. With a donation to the Internal Audit Foundation, you’re not only advancing your own career by ensuring there is continued access to knowledge on topics that can shape the IA function, but you’re also investing in innovative solutions to advance the profession around the world. I see my involvement and my donations as a smart and purposeful investment in the future of our profession.”

Tania Stegemann Training 

Alan Siegfried, CIA, CCSA, CFSA, CGAP, CRMA

Leadership Society Member

Alan Siegfried Is Committed to Educating Future Internal Auditors

Alan Siegfried is no stranger to giving his time to help advance the internal audit profession. In addition to a 40-year esteemed career that encompassed executive roles at Big Four CPA firms, Inter-American Development Bank, several financial services organizations, and numerous board and audit committees, including vice chair of the UNICEF Audit Committee, Alan joined The Institute of Internal Auditors early on to broaden his knowledge and networking circle. Over the years, he has served as Chairman of The IIA North American Board, a member of the Global Board and Board of Regents, and on several committees. He was also inducted into the American Hall of Distinguished Audit Practitioners in 2015.

As a keen advocate of teaching internal auditing at colleges and universities, he proposed the idea of establishing an internal audit track at the University of Maryland. The program came to fruition in 2006 and was one of the first university programs to pilot an internal audit textbook developed by the Internal Audit Foundation (IAF).

Alan currently serves on The IIA Academic Relations Committee to help promote internal audit initiatives in higher education such as the Internal Auditing Education Partnership (IAEP) program. The IAEP addresses a general need to prepare students who have a well-rounded understanding of internal auditing for a future career in the field. “We have a great profession — it’s important to create more opportunities for students to grasp the versatility that a job in internal auditing offers,” said Alan. “There is an impression that our profession is only about auditing financial statements. We need to show our broader scope and the key role we play in providing value to our organizations.”


Alan Siegfried with a visiting student delegation from China's Supreme Audit Organization.

The IAF Board of Trustees recently approved more than $111,000 in academic grants to 12 IAEP universities around the world. The grants, provided through the Academic Fund, will be instrumental in financially supporting areas such as teaching assistants, curriculum development, and program growth and promotion.

You, too, can support the future of internal auditing by giving to the Internal Audit Foundation. Learn more about our Academic Fund and how you can join us in our efforts.

 

Jared Soileau, CIA, CCSA, CRMA
Laura Soileau, CIA, CRMA

Leadership Society Members

A Transition from Students to Mentors

Jared and Laura SoileauInternal audit power couple Jared and Laura Soileau first met in the Center for Internal Auditing at Louisiana State University as graduate assistants more than 15 years ago. That is also where their involvement with The Institute of Internal Auditors and the Internal Audit Foundation began.

As students, they both excelled and were recognized with prestigious awards from The IIA. Laura was the recipient of the William S. Smith Student Highest Achievement Award in 2001. Jared won the Esther R. Sawyer Research Award in 2003 and was also the recipient of a Michael J. Barrett Doctoral Dissertation Grant for his dissertation in 2010.

Fast forward to today, and we find Jared as an associate professor at LSU, teaching courses in accounting information systems and audit analytics. Laura is a director for the regional firm of Postlethwaite & Netterville, where she is one of the leaders in the internal audit practice area for consulting. She is currently a Director of The IIA North America and Global Board of Directors.

Their passion for the profession extends to strong involvement on various IIA Global committees and also to serving as contributors of publications and blogs. Why is it important to them to volunteer their time and expertise? Laura explains that it is rewarding to have a voice and play a role in shaping the profession.

Their philanthropic efforts are strongly tied to academic advancement. They believe in supporting the tools and resources that empower the next generation of practitioners. Advocacy is equally important to Jared and Laura. “Audit committees and executive leaders need to promote the profession and how internal auditing adds value to all aspects of an organization,” says Jared. “It’s important to repel the perception that internal auditing is only about financial reporting controls. It is so much more than that.”

They see the future of internal audit as one that will be shaped by changing technology. The roles and skills of internal auditors will change, but this is a profession that will always be driven by personal connections. “Relationship building and the ability to communicate will become even more important parts of the role,” says Laura.

Learn more about the Foundation’s investment in Academic Advancement programs and scholarships.

Angelina Chin, CIA, CCSA, CRMA

Retired Audit Director
Leadership Society Donor

Paying It Forward by Giving Back

Angelina ChinAngelina Chin has a long history as an IIA volunteer. She began by serving on the Chicago Chapter’s Board of Governors. Since the 80s, she’s served on the Global Ethics, Audit, Professional Issues, and Educational Products Committees, the Board of Regents, and The IIA’s Board of Directors. She currently serves on the Committee of Research and Education Advisors that supports the Internal Audit Foundation (IAF). She has been a donor to the Foundation for as long as she has been volunteering. “Giving of my time and making a donation every year enables me to have an impact on advancing the profession — I can pay it forward by investing in research, thought leadership, insights, and practices that will increase stakeholder value.”

Chin stays involved because the IAF’s research and publications inspired her to deliver value in various audit and operations management and leadership roles she held at General Motors Company and the Federal Reserve Bank of Chicago. She used IAF products to help create training and leadership programs for the organization, develop timely responses to emerging risks, propel audit practices up the maturity curve, and respond to requests from the audit committee and senior management. “IAF resources are relevant not only to internal auditors, but also to management within and overseeing all lines of defense.”

Angelina has participated in drafting and reviewing many IIA practice advisories, practice guides, and IAF publications. She is a contributing author, one of the technical editors, and a member of the Advisory Committee for Sawyer’s Internal Auditing, 7th Edition, to be released in 2019.

There are many ways to get involved with the Internal Audit Foundation as a researcher, writer, or a financial supporter. Learn more.

Angelina Chin with Alan Greenspan 

N.G. Shankar, CIA

Internal Audit Consultant
IAF Book Sponsor and Leadership Society Donor

Grateful for the Profession and the Foundation

NG Shankar​When N.G. Shankar had a discussion with his millennial son about the purpose of life, it led him to the subject of his substantial career and what it meant to him. “It has been such a fulfilling and satisfying journey,” he says. It also made him think about how he wanted to continue to support his profession after his retirement, and how he could give back to The IIA.

Throughout the years, Shankar has been a volunteer leader with The IIA, and before he retired last year, he served as group executive president for Aditya Birla Group in India. He wanted to commemorate this next step in his life and knew The IIA would be in his plans, since he credits the organization with playing a role in his success. “The IIA helped me gain knowledge and confidence throughout the years,” he explains.Shankar is now engaged in advocating for the profession and training internal auditors in risk management and other related fields.

Thanks to his donation, he made it possible for the IAF to publish the CIA Exam Practice Questions book. He says sponsoring this study guide was most appropriate for him because “earning my CIA opened so many doors and allowed me to advance in my career.”

Additional book sponsorships are available. If you have an interest in donating to the IAF, please email Foundation@theiia.org or call +1-407-937-1218.

J. Michael Peppers, CIA, QIAL, CRMA, CPA

Chief Audit Executive for The University of Texas System
Leadership Society Donor

Honoring the profession through a legacy gift

For former IIA Global Board Chairman, a legacy commitment is one part of his overall plan to support the profession and the Internal Audit Foundation. It can be as simple as making the Foundation a beneficiary of a life insurance policy or retirement account.
"When I was just starting out in my career, my contributions were smaller. Now, I am honored to be able to support the Foundation at the Leadership Society level. In fact, I've made the Foundation part of my estate plan."

Peppers has been a consistent donor to the Foundation for many years and sees it as a reliable partner. He believes it provides resources that expand one's professional skills and knowledge. Peppers feels he has benefitted greatly from not only the Foundation, but also from his membership in The IIA and the personal connections he's made along the way.

"Throughout my year as chairman, I shared with colleagues around the world that financial giving is a part of the 'service' element of my #PurposeServiceImpact theme. We work in an amazing profession, so giving back should come naturally. It is our duty to help sustain its continued success. Giving to the Foundation is a simple and effective way to do it."

To learn more about making a donation to the Internal Audit Foundation or establishing a Legacy Gift, please contact: Foundation@theiia.org or +1-407-937-1218.​