Dear CAEs
Are you facing challenging times leading your team? Are there any key trends having an impact on your performance? Can you be more effective in your leadership?
The IIAS and SMU are jointly conducting a survey with CAEs in Asia Pacific. We'd like to hear from you. Please give 20 minutes of your time to complete the questionnaire. Three lucky participants would receive free tickets worth S$2,010 to the Asian CAEs Leadership Forum on 1 October 2010. All participants would enjoy 10% discount at the end of the survey. Click here to start survey. Find out more about Asian CAE Leadership Forum.
Get ready for the biggest IA event of the year. Many members told us they missed the Annual Conference as we didn’t have one last year. This time we are giving members not one but TWO exciting events -- the Annual Conference plus, for the first time in Singapore, the Asian CAE Leadership Forum. These two back-to-back events are happening from 29 September to 1 October at the Resorts World Convention Centre.
A host of global thought leaders and distinguished speakers coming from USA, Australia, China, Hong Kong, Malaysia, Philippines, Indonesia, Japan, Korea and Singapore will be sharing their intimate knowledge and insights on what they know best.
How ready and business resilient is your organization? Do you have a business continuity plan for your organization on how and what to recover or restore critical functions within a certain timeline and stay in business in the event of a disaster, threat or pandemic illnesses? The concept of business continuity, crisis and emergency management planning has been in existence for a long time but this has yet to catch on with companies in Asia.
BCM plays an important contributing factor to the overall success of business continuity strategy. What are the types of risks or threats that organizations could be faced with – be it natural, technical or human – and how should CAEs prepare their organizations for them.
At the Annual Conference, Nathaniel Forbes, Director of Forbes Calamity Prevention and President of the Asia Council of the International Association of Emergency Managers, would be speaking on Business Continuity Management – Are We Doing It Right? How auditors can add value by helping your company decide which of the business continuity strategies your organization should approach. Don’t miss it.
Sign up before 31 August to enjoy early bird rate.
Click here for more information.
The Asian Chief Audit Executives Leadership Forum shall be held for the first time in Singapore on 1 October 2010 at Resorts World Sentosa. Several global thought leaders, distinguished speakers, panelists and representatives from the Asian Confederation of Institutes of Internal Auditors (ACIIA) would be present to share their intimate knowledge and global insights on the trends and developments in the internal audit profession.
With the theme, Delivering Value in the New Decade, and the Guest of Honour, Magnus Bocker, CEO of Singapore Exchange, this Forum is the perfect platform for CAEs to get up close and personal with distinguished speakers and panelists to learn trends and developments in audit, risk and compliance, best practices in internal audit and governance. David Landsittel, Chairman of COSO, would given his views on the future of Internal Auditing. Topics include the types of challenges faced by CAEs, are your staff having the right internal audit skills, how do you right-size your Internal Audit Department to optimize IA function and increase shareholders’ value, staff productivity and efficiency, learn from FBI on what CAEs need to know to find out if there is fraud in the organization.
Click here for more information.
At the recent IIAS and ACCA Roundtable, Uantchern Loh, President IIAS, and participants of the Roundtable shared their views on how we could build on existing strengths to develop Singapore as a talent hub for the future. Participants felt that Singapore has a role to play in the global arena and the educational infrastructure plays an important role in attracting, developing and rooting talent in Singapore. More links are required between educational providers and the industry. This is to ensure that graduates have the requisite skills and knowledge for the industry and that industry participants also contribute to education and professional development.
Uantchern added that there is a dearth of educators in Singapore to nurture both existing and inbound talent. He encourages more practitioners and industry players to develop a sense of civic-mindedness by lending a hand in the education process.
Participants from the Roundtable include Phillip Overmyer, Chief Executive of Singapore International Chamber of Commerce, Kaka Singh, Chairman, RSM Chio Lim, Stephen Tjoa, Executive Director, People, Performance & Culture, KPMG LLP, Laval Wong, Head of Group Audit Asia, ABN Amro, Darryl Wee, Country Head, ACCA Singapore, Jayantee Mukherjee Saha, Principal Researcher, SHRI-Research Centre, Teo Kim Yong, Head of Finance, NEC Asia Pacific Pte Ltd, Eugene Lam, Director, Human Resources, IBM Global Business Services, Ding Ing Jen, Internal Audit Director, Sanmina-SCI Systems Singapore Pte Ltd. The Roundtable was moderated by Tim Hird, Director, Robert Half International.
To find out more, here is the link to Business Times
Click to hear Günther Meggeneder, the new IIA 2010-2011 Chairman presents “SHAPE THE FUTURE”
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Dear Members
If you do a Google search for the word “analytics”, over 101 million results will be listed. Wikipedia simply defines analytics as “how organizations arrive at optimal or realistic decisions based on existing data”. Analytics involves studying historical data to research potential trends or to evaluate the performance of a given tool or scenario.
If you do an analysis of analytics, you will probably come across terms like business analytics, business intelligence, video analytics, data mining, mobile analytics, OLAP, predictive analytics, statistics, web analytics, OLTP, data warehouse and numerous other associated words and terms. Analytics seems to be like 女人心,海底针, characterising a woman's varied emotions that may seem elusive and impossible to grasp.
Analytics has long been associated with internal auditors, although it was not quite known as analytics back then. It was simply CAATs (Computer Aided Audit Techniques) for many of us.
The IIA issued Global Technology Auditing Guide (GTAG) 3 – Continuous Auditing, in 2005 to identify what must be done to make effective use of technology in support of continuous auditing. GTAG 3 provides guidance on the use of analytics, continuous monitoring, and continuous assurance to support compliance and drive business performance. The fourth COSO report, “Guidance on Monitoring Internal Control Systems” issued in 2009 provides further emphasis on the importance of continuous monitoring.
Join us at the IIA Singapore Annual Conference and Asian Chief Audit Executives Leadership Forum where we will do a deep dive into the ocean of analytics.
Carpe diem.
Uantchern Loh
President
IIA Singapore
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In an industry talk to SMU Accountancy undergraduates, IIAS President Uantchern Loh gave an insightful talk on "Why Do People Turn to the Dark Side" that left deep impressions on them. In the auditing profession, it is beneficial for auditors to understand how the functions of people in the organization can affect the performance of an audit. Auditors are expected to remain independent and objective in their functions. Click here to find out how one SMU student has to say on the talk.
Find out who are the New Board of Directors 2010/2011 at The IIA Inc
At the invitation of IIA Inc, Immediate Past President Tan Peck Leng had been inducted into the Internal Audit Standards Board (IASB) as a committee member for an office term of three years from 2009. IIAS representation on the IASB would allow Asia to have a voice on standards and advocacies on internal auditing.
President, Uantchern Loh Uantchern has been appointed as a member of IIA Inc International Relations Committee with a mission to provide advice and counsel in matters involving the global activities of IIA, including fostering a stronger integration among IIA institutes and its existing and potential international affiliates.
Vice President, Eric Lim, is the recent induction into IIA Inc's Public Sector Committee. The public sector is one of the largest contributors to the economy serving the public using public resources. As a member of the Public Sector Committee, he looks forward to working collectively with members inclusively to share best practices on governance and controls over public sector activities and welcome views from IIAS members to share them fruitfully in the committee.
IIAS representation on these International Committees provided opportunities to increase the visibility of IIAS globally.
The IIA Inc has issued seven practice advisories on performance standards. These practice advisories provide guidance in many subject areas, including the use of analytical procedures, access to records, reporting to the board and auditor communications. They supplement content in The IIA’s authoritative guidance to further enhance the IPPF which was issued in January 2009. Click on the link for more information: http://www.theiia.org/guidance/standards-and-guidance/.
During the 2010 International Conference, The IIA’s International Advanced Technology released two new global technology audit guides (GTAGs) which are written in straightforward business language to address timely issues related to information technology (IT) management, control, and security. The GTAG series serves as a ready resource for chief audit executives on different technology-associated risks and recommended practices.
The two new GTAGs are GTAG 14: Auditing User-developed Applications and GTAG 15: Information Security Governance. Both practice guides can be downloaded here.
Two upcoming GTAGs will focus on IT Governance and Data Analysis Technology. Look out for it.
The first two Global Guidance in Action web events were held in May and June. This new service started off with Steve Hunt, Advanced Technology Committee (ATC) Chairman, discussing GTAG 8: Auditing Applications, and ATC member Sajay Rai covered GTAG 9: Identity and Access Management. The playbacks of these web events are accessible for free to members at: http://www.theiia.org/guidance/standards-and-guidance/practice-guide-series/.
You have the opportunity to participate live in these web events. The next ones will be held July 20, August 17, September 21, October 19, November 16, and December 7. The online events are free and for members only.
The IIA recently gained the collective perspectives from Institutes and members around the world on how to define those core and essential benefits provided by IIA Global Headquarters that have meaning to all IIA members, regardless of location or language. The IIA Inc wants to take this opportunity to share with you what was learned, and express how they can best provide value to Institutes, members, and the internal audit profession at-large. “IIA Global Value Without Boundaries” is an informative communication piece that outlines The IIA’s global experience, credibility, structure, and guidance which connects all 170,000 members throughout the world. You can download it from http://www.theiia.org/download.cfm?file=23230.
Dear CIAs, CCSAs and CFSAs
The Board of Regents of the Institute of Internal Auditors (IIA) Inc. requires that after certification, certification holders such as CIAs, CCSAs and CFSAs maintain their knowledge and skills and stay abreast of improvements and current developments in their area of certification through Continuing Professional Education (CPE). This is facilitated through a self-certification process with the completion and reporting of required CPE hours on forms which serve as signed statements on a biennial basis to assure that the CPE hours claimed conform to the guidelines established by The IIA Inc. that all applicable continuing professional education requirements have been met.
Each certification holder should submit to the Institute of Internal Auditors Singapore (IIAS) the CPE reporting form and worksheet, in compliance with CPE requirements. Each certification holder should maintain a copy of the CPE reporting form, along with all supporting documentation, for at least three years after the records no longer apply to file CPE reports. Records must be made available to the IIAS at its request.
The reporting year is determined by the individual's IIA membership or customer (for non-members) identification number. Certification holders whose membership or customer identification numbers end with an even number should report in even-numbered years and those whose membership or customer identification numbers end with an odd number should report in odd-numbered years. For example:
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Membership/Customer ID = #22222 (even number) reports 2008 and 2009
CPE in 2010. |
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Membership/Customer ID = #33333 (odd number) reports 2009 and 2010
CPE in 2011. |
If you are scheduled to report your CPE hours in 2010 (your membership or customer ID number ends with an even number), the reporting deadline is May 31, 2010. Please complete the appropriate forms and fax them to 65-62205972 or mail them to IIA Singapore at 138 Robinson Road #18-08, The Corporate Office, Singapore 068906. We thank you for your co-operation. Please note that certification holders whose membership or customer ID ends with an odd number have to submit by the reporting deadline of May 31, 2011.
CPE reporting by IIA members is free; non-members must submit S$100 processing fee with their report. Cheques should be drawn in favor of “The Institute of Internal Auditors Singapore”. Certification holders who fail to meet their CPE requirements by the reporting deadline will automatically be placed in inactive status and may not use their designation.
Please browse our website at www.iia.org.sg on CPE reporting requirement. For clarification or further assistance, please contact the Secretariat office at 65-63249029 or email to secretariat@iia.org.sg.
Please click the attached for the appropriate forms.
The Certification Department
IIA Singapore
Note: The IIAS may review the records of certification holders and/or course sponsors in the manner it deems appropriate to determine compliance with the requirements set forth in this guidance. The potential penalty for submitting false information and / non-compliance is revocation of the certification(s) concerned.
We have moved to bigger premises with training facillity to serve you
better. We are now at 138 Robinson Road #18-08, The Corporate Office,
Singapore 068906. Our telephone and fax numbers remain unchanged. We
welcome you to visit us at our new premises.
IIA Singapore has established the IIA Singapore Linkedin group. Linkedin is a professional networking site which allows members to create a profile with their work history, education and specialty. It allows members to connect with business partners, colleagues and friends. This builds a network which can be used to discuss subjects, look for business opportunities or employment. Linkedin has recently signed up their 50 millionth user and have a broad audience with 50% of the users being from the United States and the other 50% from other countries. Their last million users signed up within 12 days!
Linkedin allows creating groups of people around a specific theme. The Institute of Internal Auditors group is very succesful with over 10,000 members. IIA Singapore has created the “IIA Singapore Linkedin group”. This group will be open for all members of IIA Singapore and other affiliates of IIA Inc who have an affiliation with Singapore and prospective members of these. Membership will need to be approved by the administrator of the board of the IIA Singapore and is not open for headhunters and search firms at this time. You can use this group to discuss Internal Audit related subjects, post your available roles for free and network. You can find the group here:
http://www.linkedin.com/groups?gid=2343960&trk=hb_side_g
With CBT being launched since May 2008, certification testing will be available on a year-round basis. This means that certification candidates will be able to take full advantage of computer-based testing anytime throughout the year.
The various certification forms are available for download as follows:
Candidates can take as many exam parts as they wish for CIA Certification. A candidate’s registration for the exam part(s) for CIA or Specialty exam will be valid for 180 days from the date the registration is approved, and the registration (exam part) fee is .
Candidates who do not pass an exam part must wait 90 days before being allowed to retest.
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