The President’s Letter
The Dallas Chapter had the opportunity to hold the
October meeting at the Brookhaven Country Club. I received
positive feedback on the location and the service. The
Programs Committee also identified a few things that could
be managed better for future meetings (e.g., pre- and
post-meetings should be held in a separate room from the
lunch meeting). We plan to work with the Brookhaven Country
Club to address these minor changes so that our March 2007
meeting will run more smoothly.
We will return to Cityplace for the November meeting - our annual joint
meeting with the Dallas Chapter of the Association of Government Auditors (AGA).
This is our third consecutive year to meet with AGA and I look forward to this
networking event. This month our theme is "Corporate Governance." Standard 2130
of The IIA's International Standards for the Professional Practice of Internal
Auditing states that internal audit should assess and make appropriate
recommendations for improving the governance process. Refer to the IIA Web site
for more details:
organization's annual internal audit plan should address this standard in some
way. This is not to say that every audit should include an assessment of the
governance process but you should consider the relevance of this standard to
I look forward to another successful meeting. If you have any comments or
questions, please do not hesitate to contact me or another officer.
2006-2007 President - Dallas Chapter IIA
Next Meeting - Tuesday, November
Cityplace Conference Center
Joint Meeting with the Association of Government Auditors (AGA) Dallas
Lunch Meeting 12:00pm - 1:20pm
Registration begins at 11:30pm
Migration of SOX from Project to Process
Jim DeLoach, Protiviti Inc.
There are significant opportunities to improve the sustainability
of internal control structures within organizations and increase the
cost-effectiveness of the compliance process after filing your
initial internal control reports required by the Sarbanes-Oxley Act
of 2002 (“SOX”). To manage your transition from “project to
process,” companies need an ongoing infrastructure that leverages
learning, institutionalizes compliance, meets audit committee
expectations and mines the data for “value-added” opportunities and
migration to a faster, more efficient close process.
The “project to process” transition requires a structured
approach that will help companies evaluate their options for
designing the organizational structure that facilitates ongoing
compliance. In this session, Jim will discuss various trends
occurring in the marketplace around this area and also provides a
suggested approach to this difficult transition where internal audit
teams can be “front and center” in helping lead their organizations
through this change process.
DeLoach, Protiviti Managing Director, is Protiviti’s leader in
developing the firm’s market offerings in the governance services
space (including SOX compliance) and in enterprise-wide risk
management. He chairs Protiviti’s SOX PMO Task Force, which provides
oversight to the quality, consistency and growth of the firm’s
initiatives to serve clients and go-to-market with respect to SOX
offerings. He is co-author of Managing business risk: An
integrated approach, published by The Economist Intelligence
Unit in 1995, and of numerous articles covering various aspects of
business risk assessment and management.
Jim’s book, Enterprise-wide Risk Management: Strategies for
linking risk and opportunity, was published by Financial Times in
June 2000 and was the first book written on the subject of
enterprise risk management. For three years, he served on the COSO
Advisory Board that provided advice and guidance to the development
of the new Enterprise Risk Management –Integrated Framework issued
by COSO in 2004. He is frequently quoted in the press on governance
and risk management matters and has delivered numerous presentations
on governance and risk management topics to many companies and
groups in 26 countries on every inhabitable continent.
Jim also writes The Bulletin, Protiviti’s publication on
governance-related issues, and more recently wrote Frequently Asked
Questions Regarding the Sarbanes-Oxley Act Executive Certification
Requirements and all three editions of Guide to the Sarbanes-Oxley
Act: Internal Control Reporting Requirements. He recently wrote
Frequently Asked Questions Regarding Enterprise Risk Management,
which was published in February 2006.
Current Hot Topics at the PCAOB
Dennis R. Jennings, Public Company Accounting Oversight Board
With a background of corporate failures, the Sarbanes-Oxley Act
of 2002 was passed giving rise to the Public Company Accounting
Oversight Board. This session will focus on developments since the
inception of the PCAOB with respect to its organizational structure
and current issues of interest – “Hot Topics.”
Dennis R. Jennings is a Deputy Director – Inspections,
with the PCAOB. His responsibilities include serving as a senior
member of the PCAOB’s executive leadership team in Inspections and
leading the Dallas Region to help fulfill the Board’s mission of
overseeing the auditors of publicly traded companies “in order to
protect the interest of investors and further the public interest in
the preparation of informative, accurate, and independent audit
reports.” Prior to assuming his current position, Dennis was active
in the accounting and auditing profession and is retired from
PricewaterhouseCoopers where he held numerous leadership roles
including co-chairman of a predecessor firm’s energy practice and as
a member of PwC’s Global Risk Management Solutions international
executive committee where he also led the Global Energy & Mining
Practice. He has provided general consulting, accounting and
auditing services on an international basis since 1970 to numerous
multinational companies in various industries.
Dennis has held numerous leadership roles with such organizations
as the Chicago Climate Exchange; North American Petroleum Accounting
Conference; Independent Petroleum Association of America; American
Petroleum Institute; and the American Institute and Louisiana
Society of Certified Public Accountants. He also chaired the
Offender Preparation and Education Network, Texas Tech and Tulane
University Accounting Advisory Councils and several New Orleans
Chamber of Commerce committees while serving as a member of the
Chamber’s board of directors. After service as a military advisor to
the French and German armies during the Vietnam era, he graduated
from Texas Tech University in 1970, Cum Laude, and is the
University’s 1997 Distinguished Accounting Alumnus. He is also a
1997 graduate of the Harvard – INSEAD International Business
Programme in Fontainebleau, France.
Dennis has been principal co-author of "Petroleum Accounting
Principles, Procedures, & Issues 4th & 5th Editions;” contributing
author to "Montgomery's Auditing," Eleventh and Twelfth Editions;
co-author of "Survey of Accounting Practices in the Oil and Gas
Industry," 1994, 1997 and 1999; editor of “Current Developments in
Financial Accounting and Reporting” published in the "Petroleum
Accounting and Financial Management Journal;" editor of and
contributing author to the "Energy Industry Newsletter;" and
contributing author to "The Revised Petroleum Accounting Rules.” He
has also authored numerous other sustainability and risk management
articles and is a frequent speaker on various industry issues.
The Role of Internal Auditing in Sustainable
Development and Corporate Social Reporting
2006 Esther R.
Sawyer Winner Tiffany Daykin
Tiffany Daykin has a Chemical Engineering degree from
the University of Texas at Austin, and is currently in the MBA
program at UT Dallas, graduating in spring 2007. Tiffany has worked
as a software consultant for six years with five years experience
focused in the oil and gas (accounting) industry. She left software
development to become an engineering consultant for a company called Nexidea. Currently, she is working as an associate at Nexidea
and participating and consulting in projects for international
The Esther R. Sawyer Scholarship Award is granted annually
to an individual entering or currently enrolled in a graduate
program in internal auditing at an Internal Auditing Educational
Partner school, based on submission of an original manuscript. The
award honors Esther Sawyer, who was not an internal auditor, but was
an avid proponent of internal audit curricula in colleges and
universities and promoted internal auditing as a lifetime career.
2006 Award Topic:
Social responsibility reporting by publicly traded companies has
become an expected part of doing business on a global scale. The
IIA's Standard 2130 on Governance states that internal auditing
"should contribute to the organization's governance process by
evaluating and improving the process through which:
- Values and goals are established and communicated
- The accomplishment of goals is monitored
- Accountability is ensured
- Values are preserved.”
What is the role of internal auditing in sustainable development
and corporate social reporting?
meeting is being held at
2711 North Haskell Street, Dallas, Texas 75204
The DART light rail station at Cityplace serves both the
RED and BLUE
lines. Check for schedules, routes and fare information at
The best method to place and confirm your reservation is via the
web site at
An optional method is to use the telephone, fax, or e-mail.
However, a $2 phone/fax/e-mail fee will be assessed to each
Builders First Source
|Meeting / Luncheon Fees:
IIA & AGA Members: $25
Walk-ins/late registrations (members or non): $35
Phone/E-Mail Fee: $2
Reservations and cancellations must be received by 5:00 pm on Friday,
We reserve the right to bill for "no-shows."
We Now Accept Credit Cards - Online Only
The IIA Dallas Chapter, in conjunction with PayPal, will now
accept payment online for the monthly luncheons. There is no change in the cost
to you for the lunch. We accept VISA, MasterCard, Discover, American Express, or
eCheck. Note that some corporate-issued cards are not accepted by PayPal. This
service is only available online at the time the reservation is made. This can
be used to pay for individual or group reservations. Follow the instructions on
our website. If you properly cancel a reservation before the meeting, the
Chapter will either return the funds to you or reserve you for the next meeting.
Any questions, contact Tom Keils at
214-880-3560 or email@example.com.
After you place your reservation online, you will see the
link to pay via PayPal if desired.
IIA Research Foundation
The Research Foundation has thus far in 2006 issued two
additional Global Technology Audit Guides (GTAG). These include:
- Global Technology Audit Guide 5: Managing and Auditing
Privacy Risks - One of the many challenging and
formidable risk management issues faced by organizations today
is protecting the privacy of customers and employees personal
information. This GTAG covers privacy concepts, principles, and
frameworks. GTAG 5 will aid Chief Audit Executives, internal
auditors, and management to find the right sources as guidance
for their organizations. It provides the insight into privacy
risks that the organization should address when it collects,
uses, retains, or discloses personal information. This GTAG
elaborates on how to deal with privacy within the audit process
and also provide a generic outline for a privacy audit program.
- Global Technology Audit Guide 6: Managing and Auditing
IT Vulnerabilities - This guide was developed to help
chief audit executives (CAEs) and internal auditors ask the
right questions of IT security staff when assessing the
effectiveness of their vulnerability management processes.
Throughout the vulnerability management process, the role of
internal auditors is to assess the effectiveness of preventive,
detective, and mitigation measures against past and future
attacks. In addition, auditors need to inform the board of
directors of the threats, vulnerabilities, and corrective
measures taken to fix problem areas. In particular, auditors
identify where IT security can implement more effective
vulnerability management processes and better validate existing
vulnerability remediation efforts.
Both of these reports are in paperback form and can be ordered
online at –
www.theiia.org/index.cfm?act=form.bookstore, or calling toll
free 1-877-867-4957. (Order number 1012 for Guide number 4 and order
number 1017 for Guide number 5, IIA member price - $25, non member
price - $30 for each publication.)
CARRYING ON A LEGACY – THE COMMON BODY OF KNOWLEDGE 2006
The Institute of Internal Auditors Research Foundation (IIARF) is
committed to understanding how the practice of internal auditing is
carried out around the world and using this knowledge to provide
guidance to our more than 115,000 members. Today, this effort is
taking a monumental step forward.
The IIARF is performing an ongoing research program, entitled the
Common Body of Knowledge (CBOK), which will broaden our
understanding of how internal auditing is practiced around the
world. This comprehensive study will be updated every three years
and will become a permanent program of The IIA Research Foundation.
What is the Common Body of Knowledge (CBOK)?
HOW CAN YOU PARTICIPATE?
- The most important research study the IIARF has ever
- The first project funded by the William Bishop III, CIA
- We envision this project to be a living legacy of Bill’s
passion for internal auditing
- Bill was a tremendous supporter of internal audit research
and CBOK will provide a fitting tribute to Bill’s contributions
to the profession of internal auditing
- A comprehensive survey that will capture the state of the
internal auditing profession throughout the world including: •
The knowledge and skills that internal auditors possess
- The varying skill and organizational levels that practice
internal auditing work
- The actual duties performed by internal auditors
- The structure of internal audit organizations
- The types of industries which practice internal audit
- The regulatory environment of various countries
- CBOK will provide an understanding of the unique value-added
role internal auditing has in organizations throughout the world
- This understanding will enable us to better define the
future of internal auditing and ensure that it remains a vibrant
and relevant contribution to organizations
- The results of CBOK will drive many crucial aspects of The
IIA for the next 3 years, including:
- Certifications and exams
- Practice Advisories
- Educational Programs
- Educational Products
- Visit the CBOK web site at
sign up to take the survey
- Encourage your co-workers and staff to take the survey when
it is released
- Promote the survey within your organization, IIA chapter or
affiliate and other professional groups
We anticipate the release of the survey in the third quarter of
2006. To learn more about CBOK, view project phases, sign up to
participate in the survey or keep up to date on the project’s
New CIAs, CGAPs, CFSAs, and CCSAs, that passed the May 2006 exam will receive
their certificates and be honored at the November 7 meeting at Cityplace. The
IIA will be mailing the certificates to the Dallas Chapter in October. If you
are a new CIA/CGAP/CFSA/CCSA, you will get a free lunch for you and your guest!
If you are unable to attend the luncheon, please contact Toni Messer, at
firstname.lastname@example.org or 972-883-2693,
to make arrangements to obtain your certificate. Details on how to register for
the November 7 luncheon will be e-mailed to those satisfying all requirements.
Help! We Need Proctors for the November Exams!
Due to the large number of November exam participants, we need lots of
proctors! You can proctor just one part, or even just help out with
setting the rooms up and helping with registration before the exams
start. If you give four hours, the IIA will buy your lunch and
reimburse your mileage. You can even wear jeans!
If you’re interested, please contact Toni Messer at
972-883-2693. Please consider giving at least four hours of your
time back to the profession and to the Chapter.
CIA Exam Times
The exams will be held November 15-16, 2006, at The University of
Texas at Dallas School of Management (SOM) Building. Specific room
locations will be posted at Room 1.502. For directions and a map,
see the Web site at
http://www.utdallas.edu/campusmap.html. We will not allow
admittance to the exams until 30 minutes prior to the start times.
PLEASE ALLOW PLENTY OF TIME FOR PARKING!
Exam Dates & Times
Wednesday, November 15, 2006
8:30 a.m. – 12:00 p.m.
Wednesday, November 15, 2006
1:30 p.m. – 5:00 p.m.
Thursday, November 16, 2006
8:30 a.m. – 12:00 p.m.
Thursday, November 16, 2006
1:30 p.m. – 5:00 p.m.
Thursday, November 16, 2006
1:30 p.m. – 5:00 p.m.
Thursday, November 16, 2006
1:30 p.m. – 5:00 p.m.
Thursday, November 16, 2006
1:30 p.m. – 5:00 p.m.
Report Your Speaking and Writing
It's time again for the survey to determine which IIA Dallas
Chapter members have submitted articles or spoken since October 1. Each
speaking engagement on internal auditing that a Dallas Chapter
member completes will earn the Chapter 1 credit per CPD hour. Each
full article, Roundtable article, Fraud Finding, etc. submitted that
meets basic editorial guidelines will earn 5 credits. For each full
article published 20 credits are earned. Each internal audit related
article published in any other trade or professional journal that is
authored by a chapter member is 5 credits.
To report your writing and speaking go to
http://dallasiia.org/Speaking.htm and complete the provided form
by November 15, 2006. Contact Gwen Land
email@example.com if you have any questions.
Dallas Chapter Seminars
If you have not visited the SMART conference Web site,
http://www.dallasiia.org/SMART/Home.htm, then you have missed
our new countdown information. We are now at 51 days until the SMART
conference and there are only 40 remaining seats. Don't miss
out on this opportunity to hear the great speakers that are lined up
to entertain and educate all of us during the conference. Cityplace
is the location and it is easily accessible via DART. If you are not
an IIA member and register at the non-member price then we will buy
you a membership to the IIA. This membership will entitle you to
member only services through the IIA and discounts on meetings,
conferences and seminars.
Intermediate ACL for Windows
JCPenney in conjunction with Pro-Info Associates, invites you to
attend an Intermediate ACL for Windows class on November 28 – 30,
2006. This “hands-on” course will build upon the material and
subject matter presented in the Introduction to ACL for Windows
class. The course will begin with a brief review of concepts covered
in the Introduction to ACL training class. Advanced ACL commands and
data analysis techniques will then be introduced and explained. The
advantages of “linking” files through establishing ACL data
relations will be addressed through the use of real-world data and
group exercises. Participants will learn efficient ways to filter or
remove unwanted data from their ACL data files. ACL Group and Script
commands will be presented as a means to enhance data analysis
efficiency and effectiveness. The course will cover the use of
advanced ACL Functions to simplify and automate various data
analysis tasks. Data normalization techniques will be explained and
their uses presented as a means to correct inconsistent data. Time
permitting, Benford’s Law theory and its practical applications will
be also presented.
Participants should have previously completed the Introduction to
ACL for Windows course or have basic working knowledge of the ACL
for Windows software system.
This class will be held at the JCPenney Home Office – Training
Room E1-099 on 6501 Legacy Drive, Plano, TX 75025. Course
participants will earn 24 hours of CPE credit.
A. Open-Enrollment Discounts:
Membership in IIA, ISACA, AGA, Other:
Early Registration (before 11/01/2006):
Please make checks payable to Pro-Info Associates. Space is
limited for this training, so don't wait to sign up!
Are you currently in the job market either voluntarily or
involuntarily? Let the Employment Committee help you. Send us your
resume and we will include you in our resume database. We receive
calls from recruiters and hiring managers for open positions and
will forward your resume if there is a match. We get calls for staff
to director levels, IT to finance, local to out of town. All
inquiries will be handled confidentially. If you have any questions,
give us a call or e-mail us. We look forward to helping you.
Fred Herman, Employment Committee Chairman, 972-801-1208, firstname.lastname@example.org.
NEC Corporation of America (10/4/06)
NEC Corporation of America is seeking self-directed, highly motivated audit
professionals for its headquarters in Irving, TX.
- AUDIT SUPERVISOR – Requisition 1464
- SENIOR AUDITOR – Requisition 1396
- INTERNAL AUDITOR – Requisition 1308
These professionals will play a key role in expanding the scope of the
internal audit function at NEC Corporation of America. These individuals should
bring a broad perspective and ability to identify effective and efficient
financial, compliance, and process/system controls. They will conduct and lead
complex audit assignments in various functional areas. Audit experience in
public accounting or corporate internal audit organizations is preferred. Some
travel may be required. All positions require a bachelors degree (business/
finance/accounting); experience in internal audit or public accounting;
professional certification (CPA, CIA, CISA) preferred. Specific requirements for
each position can be found at:
NEC Corporation is recognized as a global leader in high technology. A Global
Fortune 500 company, NEC has a history of more than 100 years of leadership and
innovation in the core high-technology sectors of communications, computers and
electronic components. NEC maintains a strong presence in the United States
through affiliates offering products and services in virtually all aspects of
business communications, Internet operations, computers and semiconductor
technology. NEC Corporation of America, an equal opportunity employer, offers a
drug-free work environment and an excellent benefits package.
To apply, please e-mail a current resume to
email@example.com and include the
requisition number in the subject line or apply directly through the website:
Sumrall Consultants, Inc. (10/4/06)
Sumrall Consultants, Inc.
Project Manager of Internal Audit
This is a 2 Billion $$ International Firm
that has great benefits. They have a pension plan which is rare these days.
Other benefits include a long list of work/life benefits. They are also looking
for an Audit Senior.
||The Integrated Project Manager directly reports to and supports the
Director of Internal Audit in planning, supervising, and executing internal
audit activities. The IPM coordinates the department’s risk and control
assessment process by assisting audit staff in performing control
self-assessment workshops, providing training and support on the use of the
software system, and educating management on risk identification and control
||Specific Responsibilities include:
- Assist the Director of Internal Audit in supervising ongoing audits,
identifying critical control issues, and recommending corrective actions.
- Prepare audit reports in good form, with recommendations, appraisals, or
analyses that will assist the area’s manager with the proper discharge of his or
- Provide critical review and edits to the staff’s draft audit reports (and
other correspondences) to ensure clarity, conciseness, and comprehensibility.
Ensure that audit reports clearly communicate risks and key audit issues from a
senior management and Audit Committee perspective.
- Supervise the work of the Staff Auditor (or other staff as assigned by the
Internal Audit Director) as it relates to the assigned audit in accordance with
- Supervise and coach audit staff. This includes ensuring assignments are
adequately planned in advance, answering questions, providing technical
assistance and information to adequately prepare audit staff, ensuring work is
performed in accordance within Internal Audit’s standards.
- Bachelors Degree in Accounting or Finance.
- CPA, CIA, CISA,
would be a plus.
- 25% travel
- Salary open to experience.
Bored ….Ready to see the World!
International Client… Global Leader in their industry is currently looking
for a Financial Auditor with 5+ to 7 years experience. 30% International travel
to places like France, Germany, Mexico, Latin America, Australia, Canada, Japan,
China, Brazil, etc.
The candidate will bring a broad perspective, financial reporting and
controls, risk analysis and quantitative and analytical techniques to understand
their operating, financial and accounting systems as a whole. Candidate will be
responsible for the planning, supervision and execution of audit engagements
including departmental assessments of internal control structure and accounting
systems. Responsibilities also include global audits, financial & compliance
audits. Preparation of audit reports, and business process improvement projects.
Candidate should have strong financial audit experience. Knowledge and past
experience with CAAT and or SOP 97-2 would be helpful.. CPA, CIA, CFE, CISA or
For more information about this position please contact:
Sumrall Consultants, Inc.
Career Opportunity: Specialist II, Compliance
Department: CFO – Corporate Compliance
Tasks: Responsible for assisting in evaluating the company's system of
internal controls. Much of the work will be related to the documentation and
testing of internal controls as required by Sarbanes-Oxley. Reports to the
Compliance Manager in Corporate Accounting. This group utilizes an internal
audit skill set, but as part of corporate management, is empowered to ensure an
effective control environment is implemented. Serves as a role model for
company's values and demonstrates the highest ethical standards. May participate
as a team member on special projects requiring analytical and risk assessment
Requirements: Bachelors degree in Accounting or related field, as well as two
to four years of experience in financial internal auditing required. CPA or
candidate preferred. Additional designations desirable, such as CIA or CISA.
Sarbanes-Oxley implementation experience is a plus. Requires excellent written
and verbal communication skills, as well as good organizational skills and
ability to adequately document work papers. Requires excellent analytical skills
and attention to detail. Strong computer skills including data analysis tools,
Excel, Word, and Outlook are required. Also requires knowledge of SAP and IT
Control Environment, or willingness to learn. Limited travel (10%).
P: (972) 454-8618
F: (972) 454-8308
Federal Home Loan Bank Of Dallas (10/4/06)
EXEMPT JOB DESCRIPTION
|Title: AUDIT PROJECT LEADER
||Job Code: 8921 Level: 28
|Division/Group: Office of the President
|Reports To: Director, Internal Audit
||Last Revision: September 2006
Under general supervision, performs professional auditing work of considerable
difficulty and complexity, supervising and performing complex or technical
audits; aids the Director of Internal Audit in providing work direction to other
||% OF TIME
|1. Monitors work assignments to ensure timely completion
and performs detailed quality assurance reviews of workpapers and report
drafts to ensure completeness and accuracy of audit reports and
compliance with professional standards.
|2. Coordinates, plans, supervises and conducts audits,
which are frequently complex in nature, of financial, compliance,
operational, and IT areas to determine if operating units are in
compliance with Bank policies and procedures, applicable laws and
regulations and GAAP.
|3. Coordinates and manages the work of staff auditors
when assigned and assists the Director of Internal Audit in training and
staff development. Also, may coordinate and assist Bank’s CPA firm in
their annual examination.
| 4. Establishes audit objectives and develops audit
programs including time estimates, plan of work, and steps necessary to
collect data and document findings. Uses a variety of data analysis
techniques and innovative approaches to analyze bank performance and
identify areas for improvement.
|5. Responsible for the development of audit findings and
summaries; completes and monitors field work, completes and reviews
workpapers, edits preliminary drafts and coordinates the preparation of
the final audit report.
|6. Determines if appropriate corrective action has been
taken on deficiencies noted during audits and examinations by testing
corrective action and reporting the results to management.
|7. Provides consulting service to clients on matters
relating to internal control, operations or accounting matters, while
maintaining effective working relationships with other bank departments,
directors and external auditors.
| 8. Assumes additional responsibilities as assigned
- Bachelors degree with a major in accounting. A business related degree
may be substituted provided the candidate has completed at least 18 hours of
accounting courses and 3 or more hours of computer science courses.
- Ability to supervise and train other professionals.
- Professional Certification (CPA, CIA or CISA) required.
- 5-7 years experience in all types of audits including financial,
operational and IT/EDP, (significant and related bank accounting experience
of a comparable nature may be substituted in lieu of part of this experience
- Excellent microcomputer skills. Advanced skills with spreadsheets and
word processors. Intermediate skills in operating systems and utility
programs, with knowledge of flowcharting software preferred.
- Working knowledge of audit software required.
- Excellent communication, project management and interpersonal skills.
- Strong detail orientation and excellent analytical skills.
To apply please visit our website at
Equal Opportunity Employer M/F/D/V.
Comments, questions, suggestions?
© Dallas Chapter Institute of Internal Auditors
P. O. Box 261747, Plano, TX 75026-1747
The following links will take you to our web site,