President Communique

Dear Members , Internal Auditing Professionals & Friends ,

Greetings to all!

In the northern hemisphere, the vernal equinox conventionally marks the beginning of spring  in most cultures and is considered the start of the New Year . India is a land of several festivals which are regularly celebrated to signify the victory of good over evil, the arrival of spring, end of winter, and also to meet others, play and laugh, forget and forgive, and repair broken relationships.

May this Spring, Easter festive season bring happiness and joy to all of you and your loved ones.

March Quarter Update
 
IIA India had a glorious and  an action packed first quarter of 2019 starting with IIA India’s National Conference at Mumbai graced by the Global Chairman- Mouri San & the Global President & CEO – Richard Chambers. The  IIA Leaders were interviewed by the country’s largest media company ( https://www.youtube.com/watch?v=rsDQe4r5_Y0) and also by the Bombay Chartered Accountants Society  (https://www.youtube.com/watch?v=gWsko4Lmtrc&feature=youtu.be).  Mr Chambers also spoke to a group of CEOs, CFOs and board members at an evening event at Mumbai organized by Global Board member Naren Aneja. This was followed with key engagement at Delhi where Mr Chambers spoke at a prestigious Directors & CEO Roundtable discussion on elevating internal audit, which attracted a large contingent of media. At the invitation of the Institute of Chartered Accountants of India (ICAI), Mr Chambers also addressed the ICAI internal audit conference at Delhi followed with a meeting with the office of the Controller General of Accounts. The events at Mumbai & Delhi were followed with vibrant and action packed  Conferences/events  at Bengaluru, Hyderabad, Kolkatta and Chennai , which were very successful with excellent and active participation from members, internal auditors, accountants, board members as well as Board/Audit Committee members.

IIA India is progressing well on the four IIA India Goals of membership services, professionalism, advocacy and sustainability through the Teams of the respective Chapters guided by the Executive /National Committees of  the National Council ably supported by the CEO & the co-ordination/administrators team.

EGM of IIA India
 
Several members have requested to review the membership period to provide flexibility and also to extend the grace period for the renewal . To address the request of members by amending the by-laws, IIA India has called for an EGM on 13th April, 2019  . Members are requested to take note & attend the EGM . pls click & Download Notice - IIA India EGM:

 
IIA Global Council 2019
 
As the President- IIA India , I had the opportunity to represent IIA India at the IIA Global Council along with our SVP , Mr Ramarao .More than 120 delegates representing 90 IIA Affiliates attended. This event was especially meaningful as it was the last official “Global Council,” as IIA transitions to Global Assembly in 2020 under the new governance structure. We participated in the discussions on the implications of the transition from IIA India perspective & also shared our perspectives on  identifying elements necessary to enhance The IIA’s position on the Three Lines of Defense, and defining the content needs of members through the Global Content Strategy. We shall be discussing the same with the IIA India National Council & once we received more details from IIA Global, we shall share the same with the members.

The members may  also take note of the news from the IIA across the Globe
 
ACIIA CAE Forum
 
The 2019 ACIIA CAE Forum is being hosted by IIA Philippines at Manila on 16th – 17th May 2019.  Interested members may download the Brochure here: PDF File
 
***New IIA Releases***
 
Pulse of Internal Audit - The Audit Executive Center just released its latest North American Pulse report, Defining Alignment in a Dynamic Risk Landscape, which examines potentially troubling misalignment on the identification and management of risks in four key areas: cybersecurity and data protection; third-party risk; emerging and atypical risks; and board and management activity.

New Implementation Guidance on Ethics - The IIA has released new guidance for implementing its Code of Ethics. These four Implementation Guides explain what internal auditors need to know to implement each of the four Code of Ethics principles – Integrity,Objectivity, Confidentiality, and Competency – and their accompanying rules of conduct,and how to show conformance as part of a quality assurance and improvement program.
 
Specialty Knowledge Brief Focuses on Environmental Risks - Fourth Wave Environmentalism: Reducing Harmful Exposures, a knowledge brief that provides an overview of the Environmental Defense Fund’s introduction of the Fourth Wave of Environmentalism, and emphasizes EDF’s health program’s mission to reduce exposure to harmful environmental health risks was released. It also provides internal auditors with information on how environmental issues impact organizations and explores their role as key assets in achieving environmental initiatives.

“Internal Auditor”  Marks the Decade Since the Great Recession
 
It has been 10 years since The IIA and the world struggled through the worst economic downturn since the Great Depression. The IIA  and, indeed, the internal auditor profession rise from those challenges to reach new heights. In its cover story titled “Trials and Transformation,” Internal Auditor magazine takes a look at the past decade, the impact of the financial crisis, and just how The IIA and the profession has soared, thanks in great part to support of the Global Board over the years. I encourage you to take a look at the article in the February issue.    

Internal Audit Foundation Releases 7th Edition of Sawyer’s Internal Auditing
 
Larry B. Sawyer was a visionary and a leader of the internal audit profession. When the first version of Sawyer's was published in 1973, it was viewed by many as a much-needed, up-to-date reference guide to all things internal audit. This 7th edition builds on Sawyer’s legacy by looking at internal auditing from a business perspective. It is organized to show what heads of audit need to know to develop the ideal internal audit function and what internal auditors need to know to deliver current internal audit services and products. For more about this important book, visit The IIA bookstore
 
News/ Announcement:
 
The New CIA Exam Has Successfully Launched
 
The IIA successfully launched a new CIA exam (in English) based on the results of a global job analysis study. The exam is current and relevant to the knowledge and skills required for today’s internal audit practices. From 1 January 2019, students sitting the CIA exams will be tested on a revised syllabus. The three parts will be more balanced and similar in size, instances of duplication and overlap have been addressed, the syllabus has been more closely aligned to the IPPF and the international standards, and better covers the competencies required from an internal auditor most notably around information security and IT.

CIA Application Fee Waiver:
 
For a limited time, you and your team can take advantage of the application fee waiver for the Certified Internal Auditor® (CIA®) through March. That’s a savings of up to $230 per application. In addition, save 25% on The IIA’s CIA Learning System® and 25% on CIA Exam Practice Questions. The CIA application fee waiver period, coupled with the launch of the NEW CIA exam, is the perfect time to align your team, and prove their credibility and proficiency. As the only globally recognized certification for internal audit, when CIA follows their name, your team can be seen by stakeholders as leaders — driving your organization to improve its culture and enhance critical processes.

Learn more about how to save up to $230 on the CIA application and enjoy exclusive savings on exam prep products: https://global.theiia.org/certification/Pages/Drive-Your-Career-Forward-as-aCertified-Internal-Auditor.aspx
 
 
Best wishes to all for lots of happiness and good health filled with joy and hope, filled with health, wealth and good luck . Wishing you and your family a Very Happy Holi, Navroze  Happy Gudi Padwa, Yugadi, Tamil /Kannada New Year, Vishu, Rama Navami, Baisakhi, Ambedkar Jayanthi, Mahavir Jayanthi, and a  Very Happy Easter!!!
 
Together We Shall !!!
 
With kind regards,
 
Yours Sincerely,
 
S.Bhaskar
President, IIA India (18-19)
Place: Mumbai
Date:  21st March, 2019

 

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