2013 – 2014 Issue 09 April 2014

Upcoming Chapter Event

President’s Message Jennifer Burke’s presentation on the new COSO framework requirements

generated a lot of interest. For those of you who would like to look at the

presentation, it is in the Members Only section of the website.

On May 13 the final meeting of the chapter year will be held at Woodford

Reserve. Laura Phillips, Brown-Forman Corporate Controller, will share her

perspective on controllership. Tim Condon, Brown-Forman, General Auditor, will

share his perspectives on Brown-Forman’s Sarbanes-Oxley program and a few

topics unique to the spirits industry. Following the executives’ presentations will

be a one hour distillery tour. Award-winning Chef Ouita Michel is the Chef-in-

Residence at Woodford Reserve, so lunch promises to be a treat, as well.

Currently we are accepting only member reservations, but if there are sufficient

openings close to the reservation deadline, we will post a non-member price on

the website. In the meantime, Alexandra Seyberth is keeping a list of

nonmembers who have expressed an

interest in attending.

Central Kentucky Chapter applied for and

received a proclamation from Governor

Steve Beshear stating that May is Internal

Audit Awareness month. A copy of the

proclamation is being added to the website.

Best Regards, Susan Leemhuis

Date: Tuesday, April 8, 2014

Time: 11:30 AM – 3:00 PM Topics: Controllership, Brown-Forman’s SOX program and Social Place: Dryer House - The Woodford Reserve Distillery

7855 McCraken Pike Versailles, KY 40383

Cost: $35 for Members RSVP: Alexandra Seyberth (by Monday, May 5th, 2014)

IIA Central Kentucky Chapter

Audit Trails

2013 – 2014 Issue 09 April 2014

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Meeting Calendar

Date Speaker(s) Topic CPE (est.)

May 13, 2014 Laura Phillips, Corporate Controller & Tim Condon, General Auditor

Controllership, Brown-Forman’s SOX program and Social.

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* - Registration and Cancellation Policy: To cover meeting costs including meals, the CKIIA Board has approved a two business day cancellation policy for meetings. For example, for a Tuesday meeting starting at 11:30 AM, the cancellation must be received by 11:30 AM the Friday prior to the meeting. If the cancellation is not received by that date, the registrant is responsible for and will be billed for the meeting fee unless another individual from the registrant's organization attends in the registrant's place.

April 8, 2014 Meeting Overview Laura Phillips, Brown-Forman Corporate Controller, will share her perspective on controllership. Tim Condon, Brown-Forman, General Auditor, will share his perspectives on Brown-Forman’s Sarbanes-Oxley program and a few topics unique to the spirits industry. Following the executives’ presentations will be a one hour distillery tour. Menu: (Chef-in-Residence Ouita Michel) Mixed Greens Salad Woodford Chicken a l'Orange Steamed or Grilled Woodford County Asparagus Roasted Baby Potatoes Bourbon Chocolate Pecan Pie

Central Kentucky Chapter News CKIIA Website Add the CKIIA website to you favorites. https://chapters.theiia.org/central-kentucky/Pages/default.aspx.

Membership Anniversaries Shea Blackburn – 15 Years in May Shannon O’Bryan – 10 Years in May

Job Postings Information The Central Kentucky Chapter of The Institute of Internal Auditors offers a job posting section on our website and in our newsletter for organizations in our area with chapter members. The price is $50 for 3 months. This includes the posting of the employer's ad on the CKIIA website and a publication of the job summary in our Newsletter. Please submit the ad to the Chapter Secretary and newsletter editor Brittany Besten at babesten@ashland.com.

2013 – 2014 Chapter Officers

President Susan Leemhuis Lexmark International susand@lexmark.com Executive VP Makenzie Layne Tempur-Pedic makenzie.layne@tempurpedic.com Treasurer Joe Buckman Lexmark International jbuckman@lexmark.com Secretary Brittany Besten Ashland Inc. babesten@ashland.com

2013 – 2014 Issue 09 April 2014

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IIA News 2014 IIA Regional Conferences

Join The IIA and IIA‒Indianapolis Chapter as they host the 2014 Central Regional Conference (CRC).

Now in its fourth year, CRC offers cutting-edge, relevant information on general audit practices, with specific new information on IT audit activity and high-level thought leadership, presented by prominent internal audit leaders from a variety of industries.

May 18–21, 2014 at the Hyatt Regency / Indianapolis, IN. Click for The IIA conferences Web page. Start your engines and race to relevance at the

2014 Central Regional Conference (CRC) To be held from Sun. May 18 to Wed. May 21 at the Hyatt Regency in downtown Indianapolis, Indiana Experience the Best Convention City during race week Follow @2014IndyCRC on Twitter #IIACRC

Registration Sign up online or call 407-937-1111 for groups and check payments Regular Price for 18.5 NASBA CPE – $695 for IIA Members and $795 for Non-Members The CIA Review Course has an additional fee of $205 per part

Accommodations Check availability online or call 317-632-1234 and mention the CRC Special Rate through April 28 – $159 per night plus taxes An extremely limited number of Hyatt Regency rooms may still be available

Program Tracks Download the program details Choose from over 35 concurrent sessions focused on:

IT Audit and Information Security

Financial and Process Based Auditing

Governance, Fraud, and Ethics

Specialty Topics

CIA Review Course

General Sessions Internal Audit 2014 on the Track and What the Finish Line Looks Like in 2020

John Wszelaki, Senior Vice Chairman, IIA North American Board of Directors, Director of Audit, Dept. of Alcoholic Beverage Control, Commonwealth of Virginia

Assessing Your Data Analytics Maturity Steve Biskie, Managing Director, High Water Advisors, Inc.

Using the Updated COSO Framework to Reduce Costs and Increase Effectiveness Larry Rittenberg, Professor Emeritus, University of Wisconsin

CAE Panel Discussion, moderated by Larry Rittenberg Harold Silverman, Vice President, Internal Audit, The Wendy’s Co. Tracy Sokol, Vice President, Internal Audit, State Farm Insurance Brian Thelen, General Auditor and Chief Risk Officer, General Motors

2013 – 2014 Issue 09 April 2014

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New Course to Complement COSO’s Updated Framework COSO has updated its Internal Control–Integrated Framework: 2013 (Framework). As one of the sponsoring organizations of COSO, The IIA is developing resources, tools, and training to help its members with implementation. Locations and dates of these seminars can be found here: http://www.theiia.org/goto/COSO-course

IA Seminars - May Tampa, FL – May 6-9, 2014 May 6-7, 2014 Assessing Risk: Ensuring Internal Audit's Value COSO 2013: Implementing the Framework May 6-9, 2014 Audit Manager Tools and Techniques Beginning Auditor Tools and Techniques

May 8-9, 2014 Operational Auditing: Influencing Positive Change Project Management Techniques

Click on any course to see a full description and outline. Courses are subject to cancellation or change.

Latest Updates from the IIA’s Standards and Guidance Practice Guides NEW! Selecting, Using, and Creating Maturity Models: A Tool for Assurance and Consulting Engagements, July 2013 Practice Advisories

NEW! 2320-4 Continuous Assurance, June 2013

NEW! 2120-3 Internal Audit Coverage of Risks to Achieving Strategic Objectives, June 2013

NEW! 2320-3 Audit Sampling, May 2013

Latest News 29-April-2014

CFSA App Fee Waiver Ending April 30, 2014

Chambers Blog: Is Internal Audit Losing Value? Not So Fast, My Friend!

Proclaiming May as International Internal Audit Awareness Month

2014-15 North American Board Elected

New Study Aims to Enhance CGAP Certification Program 28-April-2014

Chambers Book Lauded on Big4.com 21-April-2014

Read the Blog: Managing Perceptions: What Should Internal Auditors Say on the Elevator?

April’s Issue of Tone at the Top is Available in Turkish and Spanish

16-April-2014

Chairman Paul Sobel, Guest Speaker at IIA Malaysia Conference and Graduation Ceremony

The Wall Street Journal Features Chambers Book 15-April-2014

Chairman Paul Sobel, Guest Speaker at IIA Australia Hosted SOPAC

14-April-2014

Meet Seth Peterson, CIA, CRMA

The Marriage of Strategy Development and Strategy Execution

AFIIA Conference Draws Strong Media Coverage

New Study Aims to Enhance CGAP Certification Program

Trending Blog: 5 Risks That Should Be On the Internal Audit Radar - Now!

11-April-2014

Chambers article on government auditors featured in The Public Manager magazine

10-April-2014

2014 Global Council — Dubai, United Arab Emirates

2015 Vancouver International Conference Call for Speakers

Winning Strategy for Gaming Audit Professionals 08-April-2014

Results of Latest Tone at the Top Quick Poll on Cybersecurity

07-April-2014

Chambers Discusses ACGA on Live D.C. Radio Broadcast

New Book by IIA President/CEO Richard F. Chambers Takes Internal Auditing Beyond the Numbers

New Blog: Changing Times, Changing Priorities: Are We Passing the Test?

01-April-2014

Your Career Compass: COSO Framework Update One Year Later: Rising to the Challenge

Meet Ara Kurazyan, CIA, CCSA, CFSA, CGAP, CRMA

New Issue of Tone at the Top: Managing Third-party Risks

Internal Auditor Recognizes 20 ‘Emerging Leaders’

2013 – 2014 Issue 09 April 2014

IIA Guidance Webinars

The IIA offers professional development and continuing professional education (CPE) opportunities through complimentary webinars that cover recent guidance releases. These webinars are presented by the authors to assist members with implementation and answer questions.

Please check the webinar calendar for the latest information. On-demand 24/7 Webinar Playback

One benefit of being an IIA member is having access to our extensive library of archived webinars. NOTE: On-demand webinars do not qualify for NASBA CPEs.

Upcoming Members-Only Webinars The IIA's complimentary Members-only Webinar Series is available exclusively to you as part of your membership investment. These monthly educational webinars are developed specifically with IIA members in mind.

16-April-2014

Anti-Fraud Collaboration Webcast: Your Role in Sustaining a Culture That Deters Fraud 14-May-2014

Guidance Webinar: Internal Audit Role in Ethics, Governance, and Culture

Chief Audit Executive (CAE) Resources

Audit Executive Center The IIA's Audit Executive Center is the essential resource to empower chief audit executives to be more successful. The Center's suite of information, products, and services will enable you to respond to the unique challenges and emerging risks of the profession. (http://www.theiia.org/cae/) CAE Bulletin CAE Bulletin is a twice-monthly newsletter that will alert you to the latest news, guidance, and information to help you be as effective as possible in your position as chief audit executive. The CAE Bulletin, part of the benefit of being a member of the Audit Executive Center, is designed to help you respond to today’s business challenges and opportunities. Learn more about Audit Executive Center membership. (http://www.theiia.org/cae/) Tone at the Top The IIA's Tone at the Top e-mail newsletter provides executive management, boards of directors, and audit committees with concise, leading-edge information on such issues as risk, internal control, governance, ethics, and the changing role of internal auditing; and guidance relative to their roles in, and responsibilities for the internal audit process. (https://na.theiia.org/periodicals/Pages/Tone-at-the-Top.aspx)

Other Opportunities for Continuing Education Meeting Calendar for the Louisville IIA Chapter https://chapters.theiia.org/louisville/Pages/default.aspx

Date Time Topic CPE (est.)

May 13th, 2014 12:00 PM – 3:00 PM Emerging Issue Update 2

Meeting Calendar for the Bluegrass IMA http://bluegrass.imanet.org/

2013 – 2014 Issue 09 April 2014

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14th Annual Emerging trends in Fraud Investigation & Prevention Conference Dates: May 5-6, 2014 Location: Greater Columbus Convention Center 400 North High Street, Columbus, OH 43215 Host Hotel: Hilton Columbus Downtown Keynote Speakers: Mark Nigrini, Don Rabon, Cynthia Hetherington To register: https://ohioauditor.gov/trainings/fraud/registration

IIA Certifications Certified Internal Auditor (CIA) Register Now: http://www.theiia.org/certification/certified-internal-auditor/

Certification in Control Self-Assessment (CCSA) Register Now: http://www.theiia.org/certification/specialty-certifications/ccsa/

Certified Financial Services Auditor (CFSA) Register Now: http://www.theiia.org/certification/specialty-certifications/cfsa/

Certified Government Auditing Professional (CGAP) Register Now: http://www.theiia.org/certification/specialty-certifications/cgap/

The IIA's CIA Learning System is a comprehensive training course designed to provide chapters, members, and the audit community of professionals with information and tools to master the global CIA exam syllabus. This premier quality program is aligned with the International Professional Practices Framework (IPPF) to ensure you stay current with the global internal

auditing profession and are ready for the CIA exam. It combines printed text with online testing tools and online questions.

Take advantage of the best prep materials out there by ordering yours today! Web: http://ecommerce.mylearningresource.com/stores/IIA/chapter/

The IIA Research Foundation Understanding, Shaping, Advancing The Institute of Internal Auditors Research Foundation was founded in 1976 by The Institute of Internal Auditors. For more than 30 years, the Foundation has consistently set the standard for professional achievement in the internal auditing profession. http://www.theiia.org/go?to=chapteroutreachIIARF

Mission The mission of The IIARF is to shape, advance, and expand knowledge of internal auditing by providing

relevant research and educational products to the profession globally.

Objectives The Foundation's major objective is to support research and education in internal auditing, thereby enhancing the development of the internal auditing profession. The IIARF accomplishes this by:

Researching pertinent issues and topics. Identifying and developing tools and materials. Providing global access to research and educational product resources. Periodically assessing the practice of Internal Auditing through such activities as the ongoing Common Body of Knowledge study. Seeking opportunities within the research agenda to create synergies with The IIA and other organizations. Ensuring an adequate and sustainable level of funding for research.

2013 – 2014 Issue 09 April 2014

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GLEIM – IIA Chapter Payback Program Your Central Kentucky IIA Chapter has partnered with Gleim Publications to ensure your success on the CIA exam! Working together, we will provide you the necessary study tools to prepare for this difficult exam.

Gleim provides an extensive self-study course for the CIA exam. Our most successful candidates use the Gleim CIA Review System with Gleim Online. This system combines Review Books, Test Prep software, Test Prep for Windows Mobile, audio reviews, Gleim Online and a Personal Counselor (a real live person!) to maximize your available study time. Because Gleim identifies and focuses on your weak areas, you will not spend any more time preparing than is necessary to guarantee success. The CMA Review System with Gleim Online GUARANTEES that you will pass each exam part the first time. We are here to save you time and money.

As a member of our chapter, you are eligible for a 20% discount on Gleim CIA Review materials. In addition, the Chapter will receive 20% of your Gleim CPE purchase. To take advantage of the reduced prices, please contact our chapter representative, Melissa Leonard:

Contact phone: (800) 874-5346, Ext. 131 Email: melissa.leonard@gleim.com Fax: (888) 375-6940, attn: Melissa Leonard