Academic Relations Chapter Outreach Toolkit The Chapter and Institute’s How-To Guide to Reach Out to Local Universities and Promote Internal Audit Courses

Introduction This presentation provides recommendations on how to encourage universities to adopt an internal audit curriculum. It includes: Information on how to develop your strategy for approaching universities in your area. Research for the chapter to do before meeting with the university. Tips for making the most out of the relationship with the university. A sample presentation for you to customize when meeting with the university. Items you should complete after the meeting has taken place. After you completed the initial steps, please contact AR to set up a conference call to review the plan at academic@theiia.org. Explain how it is going to be used and how

Pre-Meeting

Objective The purpose of the meeting is to persuade the university to incorporate Internal Auditing into their curriculum or Business school. Things to think about What are Internal Auditors? What do you want to communicate to the university? What information can you provide about internal audit and related careers in the region?

Things To Find Out Beforehand Who do you speak with? Please note: If you are talking with the dean, they tend to be persuaded with a more broad focus. Focus on how can Internal Auditing can be used for multiple disciplines. If you are talking with the Accounting Chair, they tend to be more focused on specific tracks. Tailor your presentation to specific tracks Internal Auditing could be applied to. What is the number of students in the university? What is the number of students in the Business School? What is the number of students in the undergraduate and graduate business programs?

Things To Find Out Beforehand What is the university’s current relationship with the chapter? What is the relationship of the meeting attendees with the university and chapter? How many internships are currently available in the market? What’s in it for the dean? The university? Who is in the business school/accounting program advisory board? Are their currently internal auditors, firm risk assurance partners or CAE’s?

Things To Find Out Beforehand Is the university currently teaching internal auditing? What degree could internal audit courses fit? Are there current courses that fit into the internal auditing curriculum? (i.e. fraud, IT audit, data analytics) Place on separate slides if need be.

Things To Be Well Versed In In case the person you are speaking with has specific questions, it would be in your best interest to be well versed in these documents: Internal Audit Academic Awareness Maturity Continuum IAEP Program Requirements & Operating Framework Global Model for Internal Audit Curriculum Internal Auditing: Assurance & Advisory Services, Fourth Edition

Tips To Know Your meeting objective should NOT include trying to give them all of the details at once. This is an introductory meeting to get them interested in an internal audit program. Don’t overload them with too many details. This will be a long process, so don’t loose hope. If you need assistance, please feel free to reach out to the Academic Relations team at Academic@theiia.org.

Tips To Know Name/company/firm dropping doesn’t hurt. If you are in contact with faculty, it may be beneficial to mention them during the conversation. Make a note to mention how well it will link you with the local community. Most organizations will have internal auditors (even government). Mention the public accounting firms and the growing risk advisory professional service firms.

Tips To Know If it is not a good fit, don’t force it. It is possible that the school isn’t ready for an internal audit course. Let them get there and assist along the way. Be strategic. Balance what you can do with your committee and chapter size. It is tempting to reach out to all of the universities in the area, but focus on the universities that show the most interest.

Tips To Know Find colleges and universities with a well developed/recognized business school. They tend to acclimate better to an internal audit track. Get the chapter and/or academic relations committee engaged. See who will be able to teach a course in internal auditing (a masters degree is preferred). The better engaged your committee is, the more help you will have running the program.

During Meeting

To Do: Please use the slides below to create your presentation. Tailor it to the university and who you will be speaking with.

[University Name] Presentation

Value Proposition of Internal Auditing Internal Auditing: Assurance ▪ Insight ▪ Objectivity Governing bodies and senior management rely on Internal Auditing for objective assurance and insight on the effectiveness and efficiency of governance, risk management and internal control processes.

Internal Auditing Provides Assurance that the organization is operating as management intends. Insight for improving controls, processes, procedures, performance, and risk management; and for reducing expenses, enhancing revenues, and improving profits. Objective assessments of operations.

Internal Auditors Have variety of skills, educational backgrounds, and expertise. Use their broad knowledge of the business to help management achieve its business objectives and assist the governing body in fulfilling its oversight responsibility. Are catalysts, risk and control experts, efficiency specialists, and problem-solvers.

What Should You Expect From An Internal Auditor?

ASSURANCE: Governance, Risk, Control Internal Auditing provides assurance on the organization’s governance, risk management and control processes to help the organization achieve its strategic, operational, financial, and compliance objectives. - Internal Auditing, as one of the four cornerstones of corporate governance (along with the governing body, executive management, and external auditing) helps organization focus on strong controls, accurate reporting, effective oversight, mitigation of risks, and protection of investments. - Assists management and governing bodies in identifying risks. - Provides insight on effectiveness of controls and compliance with procedures and regulations, and recommends improvements

INSIGHT: Catalyst, Analyses, Assessments Internal Auditing is a catalyst for improving an organization’s effectiveness and efficiency by providing insight and recommendations based on analyses and assessments of data and business processes. - As catalyst for improvement, evaluates processes, reports findings and recommends appropriate courses of action; and advises on key projects/initiatives. - Through analyses of data and information, provides insight into process improvements. - Through understanding of the business and its objectives, assesses the efficiency and effectiveness of operations and protection of assets.

OBJECTIVITY: INTEGRITY, ACCOUNTABILITY, INDEPENDENCE With commitment to integrity and accountability, Internal Auditing provides value to governing bodies and senior management as an independent source of objective advice. - Grounded in professionalism and integrity through professional Standards and Code of Ethics. - Accountable in helping management and governing bodies achieve their objectives. - To ensure independence, CAE should report to independent governing body for functional direction; and to management for administrative oversight. Maintains objectivity by not assuming any operational responsibilities.

IIA-[Chapter Name] Region Number of Companies with an Existing Internal Audit Department: [Insert Number Here] (Add logos from the local companies below) View Bureau of Labor Statistics for your local MSA.

IIA-[Chapter Name] Region Names of key organizations with a possibility of Internal Auditing Internships: [List a few companies] Expected Job Growth: 10% over the next 10 years* Median Pay: $68,150 Per Year* *Source: Bureau of Labor Statistics, US Department of Labor, Occupational Outlook Handbook, Accountants and Auditors View Bureau of Labor Statistics for your local MSA.

Adding An Internal Audit Course at [XYZ University] Add your research findings from the university: What degree can they place an internal audit track? What current courses could be included in the internal audit track? (i.e., fraud, IT audit, data analytics) Please note: If the university is not interested in having an internal audit track, see if they can incorporate an internal audit class to begin.

Thank You! If you have any additional questions, please contact: [Contact Full Name] [Phone Number] [Email]

Post-Meeting

Have patience and be persistent. A “no” today may be a “yes” tomorrow. Post Meeting Follow Up Developing an internal audit program takes time. The chapter needs to build a relationship with the faculty and administrators, so this first meeting will probably not be the last. Have patience and be persistent. A “no” today may be a “yes” tomorrow.