to enhance your professional knowledge in specific areas, become more familiar with the Chapter and network with Chapter members while earn- ing two hours of CPE. We look forward to seeing you over the next few months! Regards, Shonda Summers IIA Memphis Chapter President We are entering our third month of training. I would like to encourage you to use the IIA and its resources to advance your careers and add value to your individual lives. IIA Memphis Chapter will assist you by presenting inter- esting topics and informative speakers at each meeting. Please join us for the Novem- ber meeting (11/12/13) “Changes in the COSO Framework”, presented by Deloitte and Touche, LLP. COSO is a voluntary private sector initiative dedicated to improving organizational performance and governance through effective internal con- trol, enterprise risk manage- ment, and fraud deterrence. This is a very timely oppor- tunity since the first update to COSO was released in May 2013, after the initial introduc- tion of COSO approximately 20 years ago. This will be very informative to both a beginner and seasoned COSO user. We will ascertain ways to impact our organizations with the new changes to the framework and determine how to integrate COSO meth- odologies into our daily pro- cesses. Also, please continue to take advantage of the monthly luncheon meetings from the IIA Memphis Chapter. You’ll have the perfect opportunity President’s Message President’s Message Inside this issue: Upcoming Events 2 2013 IIA Leader- ship Conference 4 Recent Certifica- tions 4 New Members 4 Meet the Officers: Interview with Chapter President 5 IIA Global News 6 Save the Dates 6 CIA Learning Sys- tem 7 Chapter Officers 7 THANKSGIVING WORD SEARCH THANKSGIVING WORD SEARCH OCTOBER 2013 Remember: Update your IIA profile for the most up-to-date news. RSVP for the November 12th Chapter meeting Memphis Chapter Memphis Chapter
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to enhance your professional
knowledge in specific areas,
become more familiar with
the Chapter and network with
Chapter members while earn-
ing two hours of CPE. We
look forward to seeing you
over the next few months!
Regards,
Shonda Summers IIA Memphis Chapter President
We are entering our third
month of training. I would
like to encourage you to use
the IIA and its resources to
advance your careers and add
value to your individual lives.
IIA Memphis Chapter will
assist you by presenting inter-
esting topics and informative
speakers at each meeting.
Please join us for the Novem-
ber meeting (11/12/13)
“Changes in the COSO
Framework”, presented by
Deloitte and Touche, LLP.
COSO is a voluntary private
sector initiative dedicated to
improving organizational
performance and governance
through effective internal con-
trol, enterprise risk manage-
ment, and fraud deterrence.
This is a very timely oppor-
tunity since the first update to
COSO was released in May
2013, after the initial introduc-
tion of COSO approximately
20 years ago. This will be
very informative to both a
beginner and seasoned COSO
user. We will ascertain ways
to impact our organizations
with the new changes to the
framework and determine
how to integrate COSO meth-
odologies into our daily pro-
cesses.
Also, please continue to take
advantage of the monthly
luncheon meetings from the
IIA Memphis Chapter. You’ll
have the perfect opportunity
President’s MessagePresident’s Message
I n s i d e t h i s i s s u e :
Upcoming Events 2
2013 IIA Leader-ship Conference
4
Recent Certifica-tions
4
New Members 4
Meet the Officers: Interview with Chapter President
5
IIA Global News 6
Save the Dates 6
CIA Learning Sys-tem
7
Chapter Officers 7 THANKSGIVING WORD SEARCHTHANKSGIVING WORD SEARCH
O C T O B E R 2 0 1 3
Reme mber:
Update your IIA profile for the most up-to-date news.
INSIDE THE 2013 IIA LEADERSHIP INSIDE THE 2013 IIA LEADERSHIP CONFERENCECONFERENCE
P A G E 4
In April, members of the IIA Memphis Chapter Board were able to take the opportunity to attend the 2013 Lead-ership Conference aptly titled: Leadership Academy: Speed to Success. The Conference this year was held at Walt Disney World’s Yacht & Beach Club resorts. Each member participated in training specialized to their position on the
Board. The Officers took part in many training seminars and listened to many fascinating speak-
ers. They were able to take away many different re-sources to help the Memphis Chapter achieve it’s goals and become the leading Chapter in the IIA Central Re-gion.
Since February 2013, our local chapter has grown to include 28 new members. Please welcome the following members:
IIA CERTIFICATIONIIA CERTIFICATION Amath D. Badiane, Certified Internal Auditor.Amath D. Badiane, Certified Internal Auditor.
Tosin Alli Tracy Anderson Andrea Booker E Burnett Leah Clayton Taylor Cupples Mike Donnell
Lois Ealem Shanta Echols David Elkin Collin Fountain Lara Cate Jordan John Landman Richard Landry
Jacob Lee Edmond Lyonga Thomas Maher Nate Mahoney Stephanie Mitchell Jake Namen Michael Rubin
Jason Ryu Ryann Smith J L Souza Rob Spokane Vernon Stafford John White Jamie Young
M E M P H I S C H A P T E R
P A G E 5
As part of our “Meet the Officers” series,
we are giving the Chapter some insight
into who the Officers are, how they view
audit as a profession, and what their lives
are like outside the office. This month we
spoke with Shonda Summers, President of
the IIA Memphis Chapter and Auditor at
MLGW. Shonda is an alumnus of Lemoyne-
Owen College where she received her
Bachelors degree in Accounting. She went
on to receive her MBA at Webster Univer-
sity, and has received many certifications,
including her CFE and CRMA. Here’s what
Shonda had to say about her career in
internal audit.
How did you get into internal audit as a
career path?
I decided I wanted to become an auditor
after taking an auditing class in college.
We were assigned several audits during
the course and I was introduced to the
fundamentals of auditing. To further ex-
pose me to auditing, my college professor
took our class to the IIA luncheons where
we were afforded the opportunity to meet
Internal Auditor's from various compa-
nies. It was a great experience! I knew I
had found my career path. In 2001, I ap-
plied for a job with the City of Memphis
Internal Audit Department and was initially
hired as an Associate Auditor. With the
help of the City Auditor and Assistant City
Auditor, I developed a sincere desire to
add value. Under their leadership, my
career progressed from Associate to
Lead Auditor. Since beginning my journey,
I’ve had very supportive and knowledgea-
ble Colleagues, Supervisor’s, Manager’s
and Director’s.
What memorable audit experience
sticks out in your mind?
My experience as a Senior Auditor re-
sponsible for auditing casino operations
was very interesting and exciting. Each
day was filled with a great opportunity to
learn (marketing, cashiering, retail, table
games, food and beverage, etc.). There
was always live entertainment, great food
and very friendly people.
Outside of auditing what are some ac-
tivities or hobbies you enjoy doing?
I enjoy participating in church activities,
biking, reading, and playing Candy Crush.
What inspired you to become an Of-
ficer for the Memphis Chapter?
I received an email from one of the of-
ficer's seeking nominations and was en-
couraged by my Audit Director to run for
Treasurer. I participated in the election
and WON! I was extremely excited during
that time and have been on board since. I
have been an Officer since 2009 and have
enjoyed every minute.
What is your advice to new auditors?
Learn as much as you can, find a mentor
that will help develop you to be the best
auditor you can be and surround yourself
with positive, supportive influences. Last-
ly, volunteer with the IIA Memphis Chapter.
You will meet great people and learn new
tools and techniques to be an effective
auditor..…also…...it’s THE BEST CHAPTER
EVER!!!
Stay tuned for next month’s newsletter
for an interview with Memphis Chap-
ter’s Vice-President Doug Douglas.
M E M P H I S C H A P T E R
Interview with Shonda Summers
P A G E 6
IIA Global NewsIIA Global News Starting Off on the Right FootStarting Off on the Right Foot
According to the Association of Certified Fraud
Examiners’ 2012 Report to the Nations, whistle-
blower reports account for 43% of all frauds de-
tected. Typically corporate fraud is commit-
ted, and discovered, predominately within
the organization. Consequently, internal audit
is usually the first group to become aware of
wrongdoing allegations and tasked with initi-
ating a response.
Fraud investigations can significantly impact the
final outcome. By taking the right steps before
initiating the investigation, internal auditors can
reduce the risk of error and ensure the investigation
is adequately planned and executed efficiently.
Auditors should:
Conduct an initial assessment to determine
whether the allegation has merit.
Perform a risk assessment to determine mone-
tary, regulatory, reputational and other known
risks.
Determine the objectives. After obtaining evi-
dence needed to assist with understanding the
case, consider whether to pursue criminal
charges or civil remedies.
Select appropriately skilled and qualified team
members. The investigative team should be
kept as small as possible and participation
should be on a “need to know” basis.
To find out more about following sound proce-
dures for conducting a fraud investigation, read the
full article by Travis Waite, at Internal Auditor
Online, October 2013 issue.
DATE TOPIC SPEAKER
November 12, 2013November 12, 2013 Changes in the COSO FrameworkChanges in the COSO Framework Robyn C Mishkin,Robyn C Mishkin,
Senior ManagerSenior Manager
Deloitte & Touche, LLPDeloitte & Touche, LLP
December 5, 2013December 5, 2013 Professional EthicsProfessional Ethics Dr. Perry Moore, CPA, CIA Dr. Perry Moore, CPA, CIA
Lipscomb UniversityLipscomb University
January 14, 2014January 14, 2014 The Role of Cognitive Biases in The Role of Cognitive Biases in
Decision MakingDecision Making
Yousef Valine,Yousef Valine,
Executive Vice President & Executive Vice President &
Chief Risk OfficerChief Risk Officer
First Horizon First Horizon National CorporationNational Corporation
February 11, 2014February 11, 2014
Annual Student Day/Rx for FraudAnnual Student Day/Rx for Fraud Richard Scrushy,Richard Scrushy,
Former HealthSouth CEOFormer HealthSouth CEO
March 11, 2014March 11, 2014
33rdrd Annual IIA/ISACA Full Day EventAnnual IIA/ISACA Full Day Event To Be DeterminedTo Be Determined
IT and Personal Development TrackIT and Personal Development Track