What’s Hot?

ENGAGEMENT!

What’s Inside

Regards,

Jen Murphy 2016-2017 Chapter President

President’s

Message

August 2016 Volume 53, Issue 1

August Meeting 2

September Meeting 3

May Finale Mtg. Recap 4

Social Media 5

Protiviti 5

Survey Results 6

ACAP Recap 6

Program Calendar 7

CAP Points 8

Chapter Contacts 9

CAP Form 10

Kickoff Meeting & Cardinal’s Game

Save the Date! Check out this year’s program

Subscriptions – Subscribe & Save!

Survey Results – Thanks for Participating!

Co

St. Louis IIA Members –

Hi! This is Jen Murphy, new President for the St. Louis IIA Chapter. Welcome to a new chapter year. I am extremely excited to be working with many great veteran and new chapter members in various volunteer roles and our board members to have a great year.

My theme for this year is Engagement! As I have grown in my involvement with the IIA, I have found that through engaging with the chapter by attending meetings and volunteering I have met many great people and learned new skills. I challenge all of our members this year to enhance their engagement with our chapter. If you are new to the chapter or have otherwise not engaged pick one meeting to attend this year. If you have attended some meetings but haven’t met new people, make an effort at the next meeting you attend to meet someone new. Finally volunteer for the chapter, assist on a committee or offer to write an article for our newsletter. There are many ways to be involved in our chapter and we would love input from all of our

members.

Our first meeting of the year is on August 10th. Beginning at Deloitte’s offices downtown we will hear from Cassandra Ray, the Finance Director for the St. Louis Zoo, who will be speaking on Zoo Governance, the Zoo in the news, and taking any questions we all may have. Following Cassandra’s presentation we will head over to watch the Cardinals beat the Cincinnati Reds. This meetings is always a great time. Tickets to the game are limited and we only have a couple left so don’t forget to sign up ASAP to secure your ticket.

I look forward to seeing many of you on August 10th and more throughout the year. If you would like to further your participation with the chapter or have event ideas, I would love to hear them. To that end, we have created an email account that all 5 officers will be checking throughout the year. This is a way to reach all of us with your suggestions and ideas, so please don’t hesitate to reach out. The email address is iiastlouis@gmail.com.

See you all in the coming months!

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St. Louis Chapter of the IIA

August 2016 Meeting / Training

Wednesday, August 10th

Meeting Information

Location: Deloitte & Touche 100 S. 4th Street, Suite 200 St. Louis, 63102 … and then on to Busch Stadium CPE credit: 1 hour(s)

About the Meeting

Learn about Governance at the St. Louis Zoo and Spend a Night at the Ballpark! On August 10th starting at 4:30 pm, Cassandra Brown Ray, the Controller/Director of Finance from the St. Louis Zoo will speak to us about her career path, zoo governance, her role at the zoo and provide an update on what is happening at the zoo! Cassandra Brown Ray, CPA, MBA, joined the Saint Louis Zoo in 1992 as a staff accountant and has served as the Controller/Director of Finance since 1999 and is responsible for day-to-day operations of the Finance Office. She also works closely with the governance of the Saint Louis Zoo including the Audit, Investment and Finance committees. Mrs. Ray serves on the Francis Howell School District Finance & Operations Committee, the Audit Committee of the National Multiple Sclerosis Foundation and the St. Patrick Center Board of Trustees. She is a graduate of FOCUS Leadership St. Louis (2014) and a member of the inaugural class of the FOCUS Impact Fellows, a team charged with developing and implementing an action plan

using the 2015 Ferguson Commission Report as a guideline. She earned her MBA degree from Lindenwood University and her undergraduate accounting degree from the University of Missouri – Columbia. Before joining the Zoo, she worked for General Dynamics and McDonnell Douglas.

The baseball game against the Cincinnati Reds begins at 6:15 pm. Reserve your seat now as tickets are limited!

Schedule: 4:00-4:30 pm Registration

4:30 pm – 5:30 pm Speaker 5:45 pm – 9 pm Ballgame / Networking

Cost & RSVP Information

Meeting Only: $35 (member) $40 (non-member) Meeting and Game: $105 (member) $115 (non-member) Course registration requirements: Register Here If you have any questions, please feel free to contact Regina Jones at RJones@tricorbraun.com

FOCUS IIA NEWSLETTER PAGE 3

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St. Louis Chapter of the IIA

September 2016 Meeting / Seminar

Thursday September 22, 2016

Meeting Information

Location: 6 CityPlace, First Floor Meeting Room St. Louis, MO 63141 CPE credit: 8 hour(s) Registration: 7:30-8:00 pm Meeting: 8:00 am – 9:00 am Seminar 9:00 am – 5:00 pm

About the Meeting

This is a one day course designed for persons doing any type of data manipulation. From defining objectives to developing the report, steps you need to take to ensure the quality and integrity of the information provided. This course will apply to any tool used to perform analytics.

What is data analysis?

How do you ensure quality?

What do you do when you get the answer?

How do you report the results?

Should the project be continuous analysis?

What are best practices? Instructor: Jan Beckmann, CPA, ACDA Jan has been working in the audit profession for 20 years with Deloitte, Anheuser-Busch, ACL Services, and Brown Smith Wallace. She has spent her career developing ways to get to the root cause of issues to uncover practical solutions for organizations. In addition to accounting and auditing, Jan has developed expertise in data analysis and Internal Audit report writing. She combines her background and interest in journalism and editing with her technical audit knowledge to help multiple companies develop audit reports and Audit Committee presentations that produce results. For 6 years, Jan was one of the top ranked ACL trainers globally and has experience teaching training courses on multiple topics.

Cost & RSVP Information

Meeting Only: $35 (member) $40 (non-member) $28 (subscription) Meeting and Seminar: $280 (member) $320 (non-member) Full-time faculty and full-time students no charge Subscriptions may be used for this meeting and seminar Course registration requirements: Registration coming soon! If you have any questions, please feel free to contact Regina Jones at RJones@tricorbraun.com

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FOCUS IIA NEWSLETTER PAGE 4

Our May Meeting was a combination celebration, where 65 professionals gathered at the stunning Bauernhof Carriage House in Grant’s Farm to culminate not only another Chapter Year, but also to recognize the St. Louis Chapter’s 70th Anniversary. The evening kicked off with a great networking hour where the guests could not only enjoy some libations, but could also get their picture taken with the amazing Clydesdale – Jim. Jim is a World famous Clydesdale, as he has appeared in many AB commercials

over the years.

After a delicious dinner, outgoing Chapter President, Brian Dobrynski, discussed the many successes over the last year as a Chapter. He pointed out, in no particular order, but most notably, the HUGE success of the annual Multi-Track event, the ENORMOUS amount of community support through donations by the Chapter over the last year, and the always EXCITING news that the Chapter again achieved GOLD Status for CAP Points. The event was then turned to the Keynote speaker for the evening, Jaclyn Rowe. Jaclyn is a Certified Personality Trainer and shared with all the attendees the 4 different

personality quadrants –

Popular Sanguine, Powerful Choleric, Proper Melancholic, and Peaceful Phlegmatic. There was lots of heads nodding, laughter and fun finger pointing when Jaclyn described traits of the various groups. Audience members left with a better understanding on how to amplify their strengths while working to overcome their weaknesses in an effort to improve their relationships. Special thanks to John Robinson, John Saric and Gail Peters, all past Presidents of the Chapter, as they were all responsible for the planning of a wonderful and perfect year-end Celebration!!

1

May Finale Meeting Recap

1

3

E

v 5

16 Past Chapter Presidents and Jim

Keynote Speaker Jaclyn Rowe, Jaclyn’s mother and Jim

Past President, Steve Wang, petting Larry the Lizard

Several attendees enjoying the Carriage House

70th Anniversary cake

President, Brian Dobrynski with World Famous Clydesdale, Jim

FOCUS IIA NEWSLETTER PAGE 5

Page x

Join Our Community!

Become a Member Today

Visit Our Facebook Page

Join Our Linkedin Group

Follow Us On Twitter

Subscribe to Our RSS Feed

Social Media Update

The social media committee

will have gift cards in

exchange for your

participation during the

Cardinals game. In

preparation make sure you

follow us on Facebook,

Twitter, Instagram and

LinkedIn.

Check out our Chapter’s Website for all the lastest information and newsletter archives!

The St. Louis Chapter was chartered on June 24, 1946. It was the fifteenth chapter to receive its charter. The chapter began with 12

charter members and has expanded to over 900 members representing well over 175 companies and organizations. The

chapter's main focus through its 60-plus years of existence has been the interaction and education of its members.

The Chapter sponsors monthly meetings and seminars with presentations by internal audit practitioners and educators,

including many presentations by Chapter members. In addition, the sessions feature speakers discussing current integral auditing

topics. In order to foster the IIA’s motto of Progress Through Sharing, the Chapter sponsors the Audit Management

Roundtable. The roundtables are a discussion forum comprised of the leadership from various St. Louis companies and

organizations. The College Relations Committee has sponsored hundreds of students over the years through the Chapter’s

“Student Night” Program. The college program enables students to meet practitioners and discuss the internal audit profession.

FOCUS IIA NEWSLETTER PAGE 6

Thank You! Survey Participation

Results Last year, many of you responded to a University of Memphis Dissertation Survey Invitation for Porschia Nkansa. She successfully defended her dissertation in May and wanted to thank you and provide a summary

of the results. Enjoy!

More is More: Does Increased External Auditor Coordination Influence Internal Auditor Effort?

Internal auditors play an important role in mitigating fraud within organizations, while external auditors are responsible for assessing the risks of material misstatement due to fraud. Fraud research indicates that 16.5% of occupational fraud cases were detected by internal auditors, while only 3.8% were detected by external auditors in 2014 and 2015. A 2013 roundtable held by the Anti-Fraud Collaboration discussing the expectation gap in deterring and detecting financial statement fraud, revealed that 31% of survey participants believe that internal auditors are primarily responsible for detecting fraud, while 12% assigned this responsibility to external auditors. The survey participants included corporate directors, financial executives, external auditors, and internal auditors. Due to the low rate of fraud detection by internal and external auditors (a combined 20%), it is not surprising that regulators in the auditing profession are calling for enhancements to professional skepticism, while stakeholder organizations (the CAQ and IIA) are engaging in efforts to reduce the risks of financial reporting fraud. Consequently, stakeholder organizations’ increased focus on fraud detection and regulators’ increased scrutiny on audit quality bring the internal-external auditor relationship to the forefront.

The purpose of this study is to investigate how the level of coordination with the external auditor affects internal auditors’ fraud-related actions. Planned audit hours are the measure of skeptical action in this study. Prior research suggests that accountability strength influences auditor effort. The effect of external auditor coordination on internal auditors’ planned audit hours has important implications for efficiency and perceived accountability to external stakeholders. Regulators and stakeholder organizations have encouraged more collaboration between external and internal auditors to improve audit efficiency and fraud detection.

An experiment is conducted with 112 internal auditors to examine the theorized effects. This study uses a 2 x 2 between-subjects design and manipulates fraud risk (low or high) and external auditor coordination (low or high). Consistent with predictions, I find that internal auditors increase planned audit hours when fraud risk is high and that coordination strengthens the relationship between fraud risk and hours. The results illustrate that although high external auditor coordination decreases internal auditors’ hours (reflecting efficiency), internal auditors are more sensitive to responding to fraud risk when coordination is high (reflecting accountability). Even though it is well documented that coordination aids external auditors, this study’s findings indicate that it benefits internal auditors as well.

D

IIA Encourages the Next Generation to Explore Opportunities in Accounting!

The Accounting Career Awareness Program (ACAP) 6th Annual Closing Banquet was a memorable event for 19 high school minority students. Organized by the National Association of Black Accountants (NABA), the banquet was held on Friday July 22nd at St. Louis University. Fresh from their week of hard work, students had the opportunity to present their training experiences to families and industry professionals attending the banquet. Presentation topics included learning experiences in accounting and business careers, personal and professional development, and their experiences on the college campus and during their visits to local companies. The ACAP program is an attractive opportunity to future young leaders. It offers a schedule of networking events, business etiquette seminars, sports/team building activities, budgeting classes, and shark tank style competition. The program is a great opportunity for potential future business leaders to receive educational enrichment and experience before starting

college. Per students, the most popular activities were the networking opportunities and business etiquette classes.

The banquet cheerfully ended with the recognition of the two brightest and hardest working students who were each awarded a $500 scholarship by the association. As a sponsor of this one week residency program, the IIA was recognized for its contributions with a commemorative plaque

during the award ceremony.

FOCUS IIA NEWSLETTER PAGE 7

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IIA - St. Louis Chapter

2016-2017 Programs Calendar

Month Date Meeting

Type CPE Time Location Speaker Topic / Notes

August 8/10/2016 Meeting 1 4:30 PM-5:30 PM Deloitte Cassandra

Ray

Zoo governance, Zoo in the news &

Q & A

September 9/22/2016 Meeting 8 8 AM - 5 PM CitiPlace 6 Jan

Beckmann Data Analytics

October 10/6/2016 Directors Reception

1 6 PM - 8 PM St. Louis

Club TBD

Audit Committee Chair Panel

November 11/3/2016 Roundtable 1 4:30 PM-6:30 PM TBD TBD TBD

November 11/10/2016

Meeting 1 8 AM - 9 AM Sheraton Westport Chalet

Joan Pastor

Influential Communication,

Listening and Conflict Management and 2

hours of Ethics Seminar 7 9 AM - 5 PM

December 12/7/2016 Meeting &

Holiday Party

1 4 PM - 6 PM Cortex

Innovation Center

TBD TBD

January 1/12/2017 Meeting 2 8 AM - 10 AM Frontenac

Hilton Nathan Mueller

Fraud/Ethics

February 2/16/2017 Meeting 1 5 PM- 7 PM Frontenac

Hilton TBD Student Night

March 3/30/2017 Multi-track Conference

8 8 AM - 5 PM TBD Various IIA & ACFE

planning committee

April 4/6/2017 Roundtable 1 4:30 PM - 6 PM TBD TBD TBD

April 4/20/2017 Meeting 1 8 AM - 9 AM Robert

Mainardi TBD Report Writing

Seminar 7 9 AM - 5 PM

May 5/18/2017 Finale 1 5 PM - 9 PM TBD TBD TBD

Company Suscriptions 2016-2017

Our IIA chapter has decided to offer companies a subscription option in 2016-2017 Chapter Year that will help you plan your resources and save you money. The St.

Louis Chapter of the IIA will commence selling yearly subscription packages at a 20% discount today. The 20% discount will be good until 8/30/2016. The IIA

2016-2017 calendar will offer 39 CPE’s. By buying a subscription, you are purchasing 1 block of CPEs for 39 hours, and you can determine how to allocate them. The seat is for your entire company- both members and nonmembers, so you can send a different person to each meeting. You also have an option to send multiple people to a single event. Your company will benefit by getting quality training while saving $273.00 for each subscription. 39 hours would cost $1,365.00 if each meeting was purchased individually, but with a subscription it will cost only $1,092.00- which is equivalent to 8 hours of FREE CPE credit!

Please contact Christina Rousseau at: crmanhart@gmail.com to purchase your subscription!

GUIDANCE

As a Company, you are purchasing a subscription of 1 seat for 39 hours of CPE.

You are not purchasing the subscription for 1 person, it is transferable to any employee within your Company.

Options - Your Company could send 39 people to a 1 hour Training, and your subscription would be complete.

Options - Your Company could send 1 person to every meeting throughout the year and your subscription would be complete.

NOTE - Your Company needs a contact person that can coordinate with the IIA Treasurer / IIA AR Committee chair.

NOTE - Similar rules apply as to individual attendance, if you sign up to attend a meeting, you will be charged that many hours.

NOTE - There is no transferring subscriptions / hours outside of your Company.

NOTE - There is no carrying over subscriptions / hours from year to year. NOTE: Subscription is for Baseball Game Meeting ONLY, will have to pay $70 additional for ticket to ballgame.

FOCUS IIA NEWSLETTER PAGE 8

Page

Enter CAP Points

The Chapter wants to achieve Platinum status again and we need your assistance…

If you have recently performed a speaking engagement, employed an intern, or written an article for a professional magazine or newsletter please complete the form at the end of this newsletter or better yet go to the chapter website and complete the on-line form “Enter CAP Points” tile under Quick Links or at… https://secure.blueoctane.net/forms/AUYKXNT9ZAT0

Platinum Pursuit

We’ll start tracking CAP

points in August…let’s have another great year!

Check out our

“Quest for Platinum”

status every month!

Chapter Achievement Program (CAP) CAP is the acronym for Chapter Achievement Program. The program has been established on the premise that the basic mission of the chapter is to serve its members first and then the internal audit profession. The program, sponsored by the International IIA, encourages local chapters to be active both for the benefit of the chapter members and of the local community. Local chapters earn credits for the CAP through in the following categories: a) service to members; b) service to the profession, and c) chapter administration. The Chapter Achievement Program is made up of three performance levels: bronze (685 credits), silver (1,060 credits), and gold (1,560 credits). Thanks to your efforts, our chapter has attained gold status every year since 1997. After ten consecutive years of achieving gold, a chapter achieves Platinum level which this chapter has earned since 2006. So what can a member do to earn CAP points for the chapter? Examples, include:

Attend the monthly chapter meetings; Attend chapter sponsored seminars; Utilize the chapter sponsored Certified Internal Auditor (CIA) review course; Earn an IIA certification; Develop questions for the CIA exam; Recruit new members; Present speeches or training sessions; Write internal audit-related articles for publication; Provide an internal audit internship at your company for a student; and Come up with an innovative way to promote the chapter

So, it's easy to contribute and it doesn't take too much of an effort. You can report CAP activity on the chapter website or directly to the CAP Chairperson Brent Statler at bstatler@sccmo.org.

GOLD Level 1,560

CAP points

SILVER Level 1,060

CAP points

BRONZE Level 685 CAP points

FOCUS IIA NEWSLETTER PAGE 9

Page 16Chapter Contacts 2016-2017 Chapter Officers St. Louis Board of Governors

President Jennifer Murphy Protiviti (314) 656-1729 jennifer.murphy@protiviti.com

Executive Committee Diane Cody Ernst & Young (314) 290-1210 diane.cody@ey.com

1st Vice President Liaison Rhonda Travers Scottrade (314) 965-1555 x2918 rtravers@scottrade.com

Education Committee Gail Peters Washington University (314) 362-4915 petersg@wustl.edu

First Vice President Regina Jones TricorBraun (314) 539-8006 rjones@tricorbraun.com

Executive Committee Rick Feldt RubinBrown (314) 290-3220 rick.feldt@rubinbrown.com

2nd Vice President Liaison Kate Turner Laclede Gas Company (314) 342-3334 Kate.Turner@thelacledegroup.com

Education Committee Ted Flom Brown Smith Wallace LLC (314) 983-1294 tflom@bswllc.com

Second Vice President Suzanna Ney Lumiere Casino (314) 881-7711 sney@lumiereplace.com

Executive Committee Ron Steinkamp Brown Smith Wallace LLC (314) 983-1238 rsteinkamp@bswllc.com

Secretary Liaison Debbie Schultz Federal Reserve Bank of St. Louis (314) 444-8927 debra.m.schultz@stls.frb.org

Human Resources Committee Brian Dobrynski Wells Fargo (314) 875-2453 brian.dobrynski@firstclearing.com

Secretary Nathan Croll RubinBrown (314) 290-3484 nathan.croll@rubinbrown.com

Executive Committee John Saric Federal Reserve Bank of St. Louis (314) 444-8713 john.f.Saric@stls.frb.org

Treasurer Liaison Dawn Dossett Scottrade (314) 965-1555 X1203 ddossett@scottrade.com

Human Resources Committee Steve Wang Protiviti (314) 656-1744 steve.h.wang@protiviti.com

Treasurer Christina Rousseau Wells Fargo (314) 875-1414 crmanhart@gmail.com

Audit Committee Kevin Dillon St. Charles County (636) 949-7455 kdillon@sccmo.org

Promotions Committee Tony Taylor Silgan Plastics (314) 523-4311 anthony.taylor@silganplastics.com

Ex Officio Member (NACRC) Jason Minard Wells Fargo (314) 875-2203 Jason.r.minard@wellsfargo.com

Chapter Committee Chairs

Academic Relations - Co Chair Jerri Carrier Wells Fargo (314) 875-1411 Jerri.L.Carrier@wellsfargo.com

Budget and Finance – AP & AR John Drury and Adam Rouse RubinBrown & BSW (314) 290-3250 & TBD john.drury@rubinbrown.com Arouse@bswllc.com

Newsletter Kelly Finke & Josh Done AT&T & Lumiere Place (314) 534-8160 & (314) 881-7439 focus.iia.newsletter@gmail.com

Roundtables Jose Urbaez Deloitte jurbaez@DELOITTE.com

Academic Relations - Co Chair Besa Dibwe Centene (314) 445-0076 bdibwe@centene.com

Certifications Paul Renner Protiviti (618) 604-1757 paul.renner@protiviti.com

Programs Evan Gruenkemeyer Protiviti (314) 656-1747 evan.gruenkemeyer@protiviti.com

Social Media Tamika Clay CHAN Healthcare (314) 802-2035 TClay@chanllc.com

Advertising Brittany Wiederhold U.S. Army Audit Agency (618) 604-5752 brittany.n.wiederhold.civ@mail.mil

Chapter Achievement Brent Statler St. Charles County (636) 949-7455 bstatler@sccmo.org

Promotions Brian Dobrynski Wells Fargo (314) 875-2453 brian.dobrynski@firstclearing.com

Webmaster Aaron Thorne Graybar Electric Co. (314) 573-9535 aaron.thorne@graybar.com

Attendance and Membership Mark Boheim Protiviti mark.boheim@protiviti.com

Directory Amy Ribick Brown Smith Wallace (314) 983-1347 aribick@bswllc.com

QAR Dave Richert & Tim Grace Stifel & MorganFranklin Consulting (314) 342-3831 & (314) 623-8216 richertd@stifel.com timothy.grace@morganfranklin.com

Budget and Finance TBD

Multi-track Event Kelly Sendelbeck Protiviti (314) 656-1736 kelly.sendelbeck@protiviti.com

FOCUS IIA NEWSLETTER PAGE 10

Platinum Pursuit

IIA–St. Louis Chapter

Report of CAP Activity

NAME: __________________________________________________________________

COMPANY: ______________________________________________________________ PHONE NUMBER: _________________________________________________________ TYPE OF ACTIVITY: (speaking, editorials, articles, research, student internships, etc.) _________________________ TOPIC: (please attach agendas, articles)_____________________________________________________________ LENGTH OF PROGRAM (# CPE hours):________________________________________ DATE OF ACTIVITY: _______________________________________________________ LOCATION (city/state or country): _____________________________________________

DESCRIPTION / OTHER INFORMATION: ______________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Please send, fax, or e-mail to:

Brent Statler St. Charles County Government

201 N. Second St. RM 526 St. Charles, MO 63301

Phone: 636-949-7455 Ext 1

Fax: 636-949-7467 bstatler@sccmo.org

Activity can also be reported via the Chapter website