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Coastal Carolina Chapter of The Institute of Internal Auditors2010 – 2011 OfficersPresidentBilly KollWilliam.koll@charleston.k12.sc.us1st Vice PresidentPhillip Reynoldspmr@cpmfed.com2nd Vice PresidentJason McKinneyJason.McKinney@rsfh.comIf you have any jobpostings or announcements,please email Billy Koll atSecretaryHarris Knighthknight@scfederal.orgWilliam Koll@charleston.k12.sc.usTreasurerShannon ForbesShannon.forbes@rsfh.comCheck our website forchapter relatedinformation and activitiesatwww.coastalcarolinaiia.orgPage 1to have it posted in theChapter Newsletter and/orthe Chapter Website.
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterWELCOME NEW OFFICERSAND BOARD MEMBERS!!THANK YOU Paula for TWOPLATINUM YEARS!!!!INCREASE YOUR CHANCES OF PASSING THE CIA EXAMJoin UsOn Thursday, June 9th, The IIA will be hosting a free informative online session that will help youprepare to pass the CIA exam!Two certification experts will be leading the session: Nadia El-HawaryDirector of Certification Administration, The IIA Lily Bi, CIADirector, Standards and Guidance, The IIA Vicki McIntyre, CPA, CIAVice President of FirstPlus Resolutions, Inc.CIA Instructor, University of California Davis, Brandman UniversityChair, The IIA Chapter Relations Committee of North AmericaTogether, these experts will help you: Understand the CIA body of knowledge Learn how the latest Standards changes will impact the CIA exam Develop a study plan based on your personal knowledge and experience Determine how much time you’ll need to prepare for the exam Prepare to pass using The IIA’s CIA Learning System Utilize simple test-taking tips to increase your success Save 10% off your purchase of The IIA’s CIA Learning SystemPage 2
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterAll session participants will be entered to win an IIA CIA Part 3 Virtual Seminar.(Thewinner will be drawn at the end of the session. The winner must be present on the call to win.)Registration DetailsTopic: Increase Your Chances of Passing the CIA ExamDate: Thursday, June 9, 2011Time: 12:00 PM - 1:00 PM Eastern Daylight Time (New York, GMT-04:00)NEW! Four-part Web Series: Internal Audit Legal ServicesThe IIA’s Learning Solutions team is proud to announce a new addition to its robust virtual learningcurriculum. Beginning on June 23, you can participate in the first of four Internal Audit Legal Series webevents led by subject matter expert Scott Fargason, JD, CIA.To register please log in above then click here: REGISTER NOW!Schedule:Session 1Thursday 06/23/2011 1:00 - 3:00 PM ETSession 2Thursday 07/14/2011 1:00 - 3:00 PM ETSession 3Thursday 07/28/2011 1:00 - 3:00 PM ETSession 4Thursday 08/04/2011 1:00 - 3:00 PM ETWeb Series Pricing*Members - Per SessionUS 852 CPE**Members - Per Four-part SeriesUS 2898 CPE**Nonmembers - Per SessionUS 1192 CPE**Nonmembers - Per Four-part SeriesUS 4288 CPE**Knowledge level: CCourse level: II, III, IVType of delivery method: Group-Internet-Based*Field of Study: AuditingPrerequisites: NoneAdvance preparation: None*The IIA’s Learning Solutions are intended for single student participation. To maximize the benefits of thevirtual learning environment, we ask that each participant register and participate separately.**Maximum potential CPE credits: 2.0 NASBA CPE per session (Live Event Only)Session One – Auditing ContractsCourse Description: This course is designed to provide a very good overview of planning an audit ofcontracts and what to consider when executing audit steps. Topics covered include key controls that mayimprove the quality of contracts and enhance the probability of favorable outcomes. The course will alsocover key audit steps when conducting substantive testing.Page 3
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterCalling all:Audit staff preparing to engage in a contract audit.Audit managers planning to perform an audit of contracts.Chief audit executives interested in developing a meaningful audit of contracts within their organization.Non-audit managers interested in enhancing their understanding of contracts.Learning Objectives:Identify the different sources of contract law, and related requirements when dealing with certain types ofcontracts.Analyze the different parts of a contract, from the basic components to more complex provisions.Plan an audit of contracts to more effectively evaluate the contracting process.Develop tools for optimizing audit sampling as it relates to selecting contracts for review.Perform tests of controls and substantive tests when performing an audit of contracts, and optimize thereporting of significant findings to management.Session Two – Intellectual Property – Auditing the ProcessIdentifying Intellectual PropertyTypes of Intellectual PropertyIntellectual Property Critical ControlsFailed Controls – Actual Court CasesRegistration RequirementsPreserving RightsSubstantive TestsAudit Mistakes When Auditing Intellectual PropertyThe Key to Effective ReportingSession Three – Auditing Legal CounselAuditing Legal Best Practices – An Executive OverviewPermission to Audit Legal CounselIssues of ConfidentialityAuditing Around Critical PleadingsLegal Counsel – Key ControlsSubstantive TestsImproving Legal Counsel EfficiencyReducing Legal CostsAudit Mistakes When Auditing Legal CounselThe Key to Effective ReportingSession Four - Legal Cases Involving Internal AuditorsAuditor LiabilityWhy Auditors are SuedTheories of LiabilityControlling Against LawsuitsErrors and Omissions PoliciesProtecting Audit WorkpapersThe Critical Analysis PrivilegeThe Auditor/Accountant PrivilegeThe Work Product PrivilegeActual Court Case with IllustrationsThe Key to Effective ReportingPage 4
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterSummer Board Planning Workshop Save the Date!!Tentative Date is July 15th at Perkins Restaurant in NorthCharleston.Keep your eyes open for the member year end survey.Congratulations to Eugene Walpole for earning his CFSA Certificate!Tentative 2010 -2011 Program ScheduleAugust 24, 2010 – Audit Report WritingSeptember – Student night at C of COctober 18-20 – IIA Fall ConferenceNovember – FBI FraudDecember – Christmas SocialJanuary - CAE RoundtableFebruary - SAS70 & Vendor Due DiligenceMarch – “Annual Fraud Seminar”April - Cloud ComputingMay – IT Topic/Year End SocialReminder:The Coastal Carolina Chapter receives IIA points each time a member gives a presentation orwrites an article. This includes for non-IIA events. Please remember to email Shannon(Shannon.forbes@rsfh.com) to properly record your activity.Page 5
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterName: Edward (“Ed”) DittmeierCertifications: Proud holder of Certified Internal Auditor designation and a Certified PublicAccountant in New JerseyIIA Member Since: 1982Alma Mater: State University of New York at BuffaloDegree: Bachelors of Science, AccountingBachelors of Arts, StatisticsEmployer: BB&T - Branch Banking and Trust Company, in Winston-Salem, NCPosition: Vice President – Audit Professional Practices ManagerJob / Employer Description: As a member of BB&T’s Senior Audit Leadership Team and a directreport to the General Auditor, I am responsible for sustaining BB&T Audit Services’ auditframework and further enhancing the framework through strategic initiatives. Among the areasthree staff and I primarily focus on are: reporting to the Corporation’s Audit Committee, varioussubsidiary Audit Committees, and executive management; resource management enablement,including financial budgeting and forecasting, and people management processes, and performancetracking; robust enterprise-wide risk assessment and annual audit planning; current and relevantaudit policies, procedures, and processes that are aligned with IIA Standards; learning anddevelopment experiences for professional staff through a curriculum and training that supportsCIA designations and enhancement of subject matter expertise; and a rigorous quality assuranceand improvement program, including the recent completion of an external quality assurancereview.Why did I join the IIA? While I was an entry-level auditor, the IIA served as a source of auditingtechniques and risk and control information. As I progressed through my career, I valued thenetwork of IIA professionals for their open sharing of experiences and practices Now, with thebreadth and depth of my experience, I’m able to share with others to help them develop andenhance our profession.The one activity I enjoy doing in my spare time is: So many to choose from: love to spend time withmy family spread across the East Coast in Chapel Hill, NC, Washington, DC, and New York, NY;greatly enjoy cooking and currently going through a phase of Tuscan and Asian-inspired dishes;love to read popular fiction and especially enjoy titles by WEB Griffin, David Balducci, NelsonDeMille, and similar authors; and, of course, still working on my golf game on Kiawah Island’sfabulous courses.Something People Don't Know About Me: I always wanted to be a Park Ranger when I grew up sinceI greatly enjoy the outdoors, am concerned about our environment, and enjoy explaining things toothers. And, the Smokey the Bear hats are cool!Page 6
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterIIA – Coastal Carolina ChapterPresident1st Vice President2nd Vice PresidentSecretaryTreasurerOFFICERSBilly KollWilliam.koll@charleston.k12.sc.usPhillip Reynoldspmr@cpmfed.comJason McKinneyJason.McKinney@rsfh.comHarris Knighthknight@scfederal.orgShannon Forbes, CPA,Shannon.forbes@rsfh.comCIABOARD OF GOVERNORSTerm expires May 31,2012Steve HartzogMary LeonardAmy .robinson@ropersaintfrancis.comTerm expires May 31,2013Regina Middleton-WhiteMargaret MillerEd DittmeierBrian rgedittmeier@gmail.combtyler@hagemeyerna.comTerm expires May 31,2014Kristina McMichaelBruce HavensDorothy RoesslerAmy WhartonKristina ston.sc.usPAST PRESIDENTSTerm expires May 31, 2012Paula TwiggPage 7Paula.twigg@rhi.com
Coastal Carolina Chapter of The Institute of Internal Auditors(www.coastalcarolinaiia.org)May 2011 NewsletterDistrict 4 Representative (serving July 1, 2009 – June 30, 2011):Glenn Murray gmurray@scana.comMid-Atlantic Regional Director (serving July 1, 2009 – June 30, 2012):Deane Hennett dhennett@odu.comCOMMITTEE CHAIRPEOPLEAcademic RelationsKristina G.L.McMichaelKristina tyMary Leonardmleonard@scfederal.orgAuditAmy WhartonWhartona@ci.charleston.sc.usChapter DirectoryBilly inarsPaula TwiggJason McKinneyAaron stona@charlestoncpw.comMeeting ArrangementsMargaret MillerPaula rshipPaula TwiggPaula.twigg@rhi.comNewsletterBilly la TwiggPaula.twigg@rhi.comPage 8
Regina Middleton -White middleton-whiter@htfcu.org Margaret Miller mmiller@scfederal.org Ed Dittmeier edittmeier@gmail.com Brian Tyler btyler@hagemeyerna.com Term expires May 31, 2014 Kristina McMichael Kristina_mcmichael@charleston.k12.sc.us Bruce Havens bdhavens@sant
