“Fraud”
Luncheon Meeting
Speaker: Dean Schaumburg – Director on the Board of the Chicago
Chapter of the Association of Certified Fraud Examiners
2 CPE Credits
When:
Thursday, April 14th, 2011
Where:
Mr. BEANS
200 1st Street Southeast
Cedar Rapids, IA 52401-1409
(Located on the Ground floor of the Alliant Energy Building)
Cost:
$45 Members
$50 Non-Members - A Great Deal – 2 CPEs and a Wonderful Lunch
NOTE: SIGN UP EARLY - SEATING IS LIMITED TO 30
Meeting Schedule
Registration:
Lunch:
Presentation:
Questions/Wrap Up:
Menu:
11:15 – 11:30
11:30-12:00
12:00-1:30
1:30 – 2:00
1. Farmhouse Club (Homemade chicken salad with lettuce, tomato and bacon on
grilled Panini bread
2. Tortilla Club Wrap (Garden herb tortilla filled with smoked turkey ham, lettuce,
tomato, bacon, Cheddar cheese and dill spread)
3. California Club (Smoked turkey, bacon, avocado, lettuce, tomato and mayo on grilled
Panini bread)
4. Mandarin Chicken Salad (Marinated chicken breast, mandarin oranges, chow main
noodles, and sunflower kernels tossed with mixed greens and oriental dressing)
5. Grilled Chicken Caesar Salad (Romaine lettuce, croutons and ripe olives in creamy
Caesar dressing, topped with grilled chicken strips and parmesan)
(Beverages, Chips with Sandwiches only included)
Indicate Menu Choice when making reservation.
(If anyone has special dietary needs, accommodations can be made on an individual basis.)
Reservations due to Pat Corbett by email pacorbet@rockwellcollins.com by COB on
Tuesday, April 12th, 2011.
Guests are welcome. Payment may be made at the registration payable to the Heartland
Chapter IIA. Attendees will receive 2 CPEs for this training.
April Speaker Bio - Dean Schaumburg
I have extensive experience in Internal Audit in the financial services sector. This includes the
provision of internal control, fraud risk management and compliance excellence to numerous
areas of the business including information technology in the United Kingdom, Switzerland,
Canada and currently the United States. Most notable was the integration of fraud risk
assessment within all audits including:
 enterprise level controls such as fraud policy, code of ethics, employment verification
and background checks, awareness training, reporting mechanisms and tone at the top;

operational level controls such as financial statement, accounts receivable, accounts
payable, procurement and claims, to name a few.
I am a Director on the Board of the Chicago Chapter of the Association of Certified Fraud
Examiners, supporting program/seminar development.
June Speaker Bio – James Roth
James Roth, PhD, CIA, CCSA, is president of AuditTrends, LLC, a
training firm devoted to identifying and communicating the best of current internal audit practice.
Jim has three decades of progressive internal audit and teaching experience. His publications
include eight AuditTrends seminars, seven books and seven other major works for the IIA.

Best Practices: Evaluating the Corporate Culture

Vision University (the IIA’s executive training program)

Best Practices: Value-Added Approaches of Four Innovative Internal Auditing Departments

Adding Value: Seven Roads to Success
An energetic and motivating speaker, Jim is one of the profession’s most highly rated
presenters. In 2008 he was honored with the Bradford Cadmus Memorial award, the IIA’s most
prestigious award for contributing to the advancement of the internal audit profession. For more
information, visit www.audittrends.com.
June 9, 2011 Training Seminar Detail
Best Practices in Added Value Internal Auditing
What you will gain from this seminar: This seminar presents the practices of worldclass audit functions in enough concrete detail that you can use them as models to create
your own value-added practices
Who should attend: Audit management and auditors with at least one year of experience.
No prerequisites.
Audit Department Structure and
Annual Planning Process
Best practice principles
– Align department structure with the
business
– Use relationship managers
– Risk assessment that is: qualitative,
participative, real-time, strategically
focused
– Have a menu of audit services;
choose best service for each risk
– Best practice examples from DuPont,
Georgia Pacific, Pacific Telesis,
JCPenney Central Main Power
Added Value Audit Methodologies
Control Self-Assessment
CSA workshops
– The two basic techniques and a case
study; benefits and where to learn
more
Audit project CSA questionnaire
– Rensselaer Polytechnic case study;
keys to success CSA questionnaires
Entity-wide self-assessment survey
– Ameritech
Self-assessment for hard & soft controls
(getting out from under the compliance
audit burden)
– Banking organization, Alcoa
Best Practice Principles
Risk-Based Auditing
Business Process Auditing
Use of Guest Auditors
Best Practice Web Site and Database
Criteria for Evaluating Performance
Measures
Auditing E-Commerce – Microsoft
Management Action Plan Audit Report
Format
How to Get There from Here:
Reinventing Internal Audit
How to identify and prioritize your key
customers’ needs and expectations
How to develop a vital, shared vision
and strategic plan
– Examples of vision statements and a
strategic plan
Audit department performance metrics –
DuPont, FirstEnergy
Course summary: Profile of a valueadding audit department
President’s Message
Welcome to Spring!
The March “Tone at the Top” newsletter had some interesting information on organizational culture and
how it is impacted by the behaviors of leaders, regardless of the ethics policy or other guiding
principles. If you have not read it please do! Organizational culture needs to be nurture carefully and
evaluated periodically to understand the “health” of your organization. Culture is supported by policies
however the reality of any organizational policy is that it must be consistently applied & enforced for all
organizational members. Having a policy that is “words only” will not create the culture that you seek if
the actions of your leaders portrays different behaviors/violations of your policies without
consequences.
The newsletter contained information on how to approach an audit of your organization’s culture. It is an
interesting read and something we should all be aware of as auditors. Whatever process, department,
location, etc that you are auditing the culture of that area does have an impact on the operations. Thus,
it is important to understand what those impacts can be, what to watch for, and how to test for them.
There were “five principles for evaluating soft controls” provided which you can view by downloading the
pdf from the IIA online at: http://www.theiia.org/periodicals/newsletters/tone-at-the-top/
Best regards,
Dr. Deb Schott, CIA CPA
President, Heartland-Iowa IIA
GLEIM News
Students Make Great Candidates
Are you a student, or do you know a student who has considered attaining the CIA designation? Certified
professionals like CIAs earn higher salaries and set themselves apart when applying for a new position or vying
for a promotion. If you pass the CIA exam prior to graduation, you will be one step ahead of other recent grads
and in position for success before you even leave college.
As I attend collegiate events, I find students aren't always aware that they can sit for the CIA exam while still in
school. While there are education requirements that individuals must meet to be certified, The IIA will allow fulltime university students who are in their senior (final) year and who have not yet completed those requirements to
sit for the CIA exam. In these cases, the students simply complete the Student/Professor Application Form and
submit the Full-Time Student Status Form to indicate their circumstances.
There are several advantages to taking the CIA exam while still attending classes. First, you save money! The IIA
provides students with a reduced rate for the application fee and registration for each exam part. Full-time
students can pay up to $50 less on the application fee and $95 less per part on the registration fee.
Another reason to work on your certification while you are a current student is that you can improve your grades
and your exam score! You will find as you prepare for the exam that there will be crossover with the topics tested
and the topics covered in some of your upper-level accounting courses. As you prepare for the exam, you will be
Institute of Internal Auditors
Heartland-Iowa Chapter
March 2011
learning new skills and concepts that you can apply to your coursework. Similarly, studying for your courses and
completing homework assignments may help you in answering multiple-choice questions that will be found in your
CIA Review. Improved grades and improved exam scores are well worth the investment of your time and money.
Study habits are never as much a part of your life as they are while in school. As a student, you are already in the
habit of budgeting your time to prepare for tests, doing your assigned reading, and completing papers and other
class assignments. This academic lifestyle will work to your advantage as you prepare for the CIA exam. Many
candidates find that once out of school they become easily distracted by daily job duties and household
responsibilities, as they have already broken their study habits. These candidates will often procrastinate or not
prepare as comprehensively as they might desire. Using your current habits and applying them to your
preparation process will aid you in maintaining focus.
As a student, you have an opportunity to make a sound investment in your future. You will see improved grades
and exam scores and maintain better focus; all while Contact Melissa at 800.874.5346, ext. 131 or
melissa.leonard@gleim.com
to take advantage of your chapter discount or if you have any questions.
Chapter News
Link to Heartland Chapter IIA Website
http://www.theiia.org/chapters/index.cfm?act=home.page&cid=260
Career Opportunities/Classified section
Rockwell Collins has two (2) position openings within the Internal Audit Department; one (1) position
opening for Senior Audit Analyst - Financial and one (1) position opening for a Sr Systems Auditor. All
applicants for the position openings must apply at
http://www.rockwellcollins.com/careers/index.html
Membership News
No New Members This Month
Institute of Internal Auditors
Heartland-Iowa Chapter
March 2011
Going for the Gold!!!
Chapter Achievement Program (CAP)
If you have any questions about whether something is eligible for CAP points, feel free to contact me at
tinarukgaber@alliantenergy.com. Here is how we looked after the February 2011 meeting:
800
700
600
500
Members
Profession
Admin
400
300
200
100
0
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Upcoming Meeting/Event Schedule
April 14, 2011 – “Fraud” - Dean Schaumburg – Mr. Bean’s, downtown CR
May 16, 2011 – SAVE THE DATE “Annual CAE Conference/Training” – May 16, 2011 - Brown
Deer Country Club - Coralville, IA
June 9, 2011 – Upcoming Training Seminar - James Roth, Presenting – “Best Practices in
Added Value Internal Auditing - 8 CPEs – Hills Bank & Trust, 3905 Blairs
Ferry Road NE, Cedar Rapids, IA 52402
Institute of Internal Auditors
Heartland-Iowa Chapter
March 2011
Chapter Officers
2010-2011
President
Deb Schott
(319) 558-1817
DeSchott@cr.k12.ia.us
Treasurer
Laurie Aquino
(319) 398-6178
laquino@mercycare.org
Vice President
Anu Ambati
(319) 295-3389
arambati@rockwellcollins.com
Secretary
Pat Corbett
(319) 295-2489
pacorbet@rockwellcollins.com
Governors
Becky Rich-RSM McGladrey
Carla Kelley-UNI
Terry Whaley – Alliant
Gregg Endicott – Rockwell
Kevin Sheehan-Hills Bank
Jeremy Bahl-Yellow Book
Pam LaGrange - AEGON
Julie Hupp – Rockwell
Tina Rukgaber – Alliant
Pat Stepanek - GALC
Cassie Myers – RSM McGladrey
Chapter Committee Chairs
2010-2011
Publicity
Melissa Ewing
(563) 209-2694
mkewing@rockwellcollins.com
Membership
Julie Hupp
(319) 295-7358
jahupp@rockwellcollins.com
Programs
Anu Ambati
(319) 295-3389
arambati@rockwellcollins.com
Newsletter
Pat Corbett
(319) 295-2489
pacorbet@rockwellcollins.com
Web-site Management
Vacant – please email
Deb @ deb_s@southslope.net if
interested in managing our chapter
website.
Academic Relations
Chad Sharp
(319) 335-2872
chad-sharp@uiowa.edu
Institute of Internal Auditors
Heartland-Iowa Chapter
March 2011