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Foundation in Focus

October 2020

2020 has been a busy year for the Internal Audit Foundation! Our research, educational publications, academic grants, and scholarships have benefited practitioners, students, and educators. In this edition of Foundation in Focus, we highlight some of the many ways we have helped internal audit professionals through what we do.

Foundation Publication Aids Function in Developing Customized Approach for Agile Auditing.

Kevin Cantrell“As we listened to others speak about the agile auditing methodology, it seemed to provide meaningful improvements in audit process efficiency, client engagement, and audit deliverables. Initially, we thought we might bring in a consultant to assist us with this in our practice. However, with the help of Agile Auditing: Transforming the Internal Audit Process, we were able to develop our plan, conduct in-house training, and successfully implement a customized approach to agile auditing. It has quickly proven to be superior to our old-fashioned ‘waterfall’ audit approach. The book is well written, easy to follow, and you cannot beat the ROI!”

Kevin L. Cantrell, CIA, Vice President, Internal Audit, Plains All American Pipeline, L.P. talking about Agile Auditing: Transforming the Internal Audit Processa publication sponsored by IIA ̶ Chicago and IIA ̶ Kansas City. Executive Summary sponsored by IIA ̶ Chile and available in English and Spanish.

Research Funded by The IIA–Dallas Chapter and Practitioners Proves Value-added.

Measuring Value“We at The IIA ̶ Dallas Chapter knew this was the right research, the right topic, and the right time. Becoming a sponsor of this report was the right thing to do. 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.”

Chris Lewis, CIA, CRMA IIA ̶ Dallas Chapter Immediate Past President talking about Defining, Measuring, and Communicating the Value of Internal Audit: Best Practices for the Profession, a research report generously sponsored by The IIA ̶ Dallas Chapter along with donors from all around the globe.

Foundation Commissions Research to Assess the State of Internal Audit Competency Globally.

FrameworkThe Foundation and its research partner, Deloitte, fielded a global study exploring the state of internal audit competency and complementing the release of The IIA’s Internal Audit Competency Framework©.

We welcome your contributions and those of practitioners at all levels to this premier research! Take the survey before Oct. 26, 2020.

Academic Fund Supports Grants that Give Students a Competitive Edge.

Students“Thank you to the Internal Audit Foundation for your generous contribution to the IAEP program within the Albers School of Business and Economics at Seattle University. This grant, and others you have provided in the past, continue to help Seattle University remain on the cutting edge of internal audit research and education. Your support allows us to develop curriculum and programs that give our students a significant competitive advantage.”

Joseph M. Phillips, Ph.D., Dean and Professor of Economics, Albers School of Business and Economics, Seattle University

The Foundation’s Academic Fund supports more than 4,275 students participating in 52 Internal Auditing Education Partnership (IAEP) and 21 Academic Awareness schools worldwide. IAEP schools offer a robust internal auditing curriculum, enabling students to enter the profession and hit the ground running after graduation.

Barrett Grant Recipient Makes Long-term Commitment to Advance the Profession.

Sebastian Piroro“I am eternally grateful for the generous financial support from the Internal Audit Foundation. Being awarded this grant provided a phenomenal boost to my Ph.D. journey. This prestigious award is a recognition of my contribution to the study and practice of internal auditing. I have a strong passion for teaching in institutions of higher learning, and I will actively teach and promote the study of internal auditing after completing my doctoral program.”

Sebastian Piroro, 2018 Michael J. Barrett Dissertation Grant recipient

The Barrett Doctoral Dissertation Grant, awarded annually, supports Ph.D. candidates who are researching and exploring topics of significant impact and relevance to the profession.

FLAI Finds Value in Content Collaboration to Meet Member Needs Amid Pandemic, Regionally and Globally.

Fraud ReportThe Internal Audit Foundation is fortunate to have many global partners who support our mission of preserving the future of the internal audit profession. As part of the Foundation’s new 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. While FLAI had previously sponsored the translation of existing Foundation research and publications, this was the first time for the Chapter to sponsor original content.

“We are happy to support this project, and we appreciate that the IAF offers this type of opportunity. 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.”

Jorge Badillo, Chairman of the Board, FLAI

Be Instrumental — Let’s Make Music Together

Be InstrumentalAs a not-for-profit organization supported solely by donations, we honestly can’t fulfill our mission without our generous donors. If you would like to be involved with the Internal Audit Foundation, you may do so through providing monetary donations, sharing insight as a knowledge contributor, or serving as a Foundation Ambassador.

Thank You!

Thank youWithout the critical support of our donors, none of the Internal Audit Foundation’s work would be possible. Thank you to our principal partners and donors.