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Internal Audit and Ethics in Today's Economy (meets MD ethics requirement)

IIA Baltimore Chapter

Friday, February 7, 2014 from 8:30 AM to 5:00 PM (EST)

Internal Audit and Ethics in Today's Economy (meets MD...

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Event Details

Course Title: Internal Audit and Ethics in Today's Economy


Instructor: Lynn Fountain, CPA, CGMA, CRMA, President, Fountain GRC


Session 1 (8:30am-12pm):

Sesssion Title: Internal Audit in Today's Economy

Synopsis: The current economic climate, combined with increased regulatory scrutiny, is having a dramatic impact on the work Internal Auditors must do. Post Sarbanes-Oxley, internal audit groups have tried to re-balance priorities to ensure they are covering the most significant risks to their organizations. The recent PCAOB 2012, COSO 2013 and the ever increasing emphasis on ERM and emerging risks have internal audit groups re-evaluating their audit plan, organization structure, charter and much more. Today's economic climate has impacted how organizations must execute their day to day operations.  Correspondingly, Internal Audit must be able to adapt and adjust to risks that may evolve out of those changes.  In this course, attendees will learn:

  • Differences between traditional internal audit vs. the new wave of auditing
  • How the financial crisis has impacted all aspects of an organization's operations
  • How to adjust internal audit priorities to be in line with COSO 2013 requirement
  • The impact on internal audit of the recent 2012 PCAOB report on public accounting firms
  • Internal audit’s responsibilities for corporate governance, understanding corporate strategies and ERM.
  • Keys to understanding the roles of risk tolerance concepts.

 

Session 2 (1pm-5pm):

Sesssion Title: Ethics in Today's Business

Synopsis: Everyone agrees ethics is an important topic and critical to a company's control environment. However, with all the focus on the topic, corporate America continues to see instances of inappropriate behavior and questionable ethics. Although, there has been a significant amount of legislative effort put forth in the past few years to bolster the requirements around ethics and corporate social responsibility, we often see companies focusing on the tactical efforts of complying with those rules rather than the qualitative efforts needed to ensure understanding and intent.

COSO 2013 was released in May 2013 and provides further focus on the importance of "tone at the top" and ethics. For companies utilizing the framework for the SOX attestation, they will need to institute changes by December 2014. The framework places significant emphasis on proper ethics in order to attest to a positive control enviroment.

Individuals can often find that they are caught between political lines when trying to address ethical topics within their organizations.  The challenge is that the ethical environment impacts corporate culture and the control environment.  All individuals must find a way to broach the topic with management and adequately communicate any observations or concerns they may have at any point in time that may impact a company’s ethical culture.

This session will discuss ethics, it’s importance to COSO 2013, common ethical scenarios that individuals may encounter as well as tactics for properly address Ethics in the workplace. Attendees of this session will learn:

  • Lessons learned from past corporate scandals
  • Dissecting the meaning behind the word "Ethics"
  • Risk factors for identifying ethical dilemmas
  • Common ethical scenarios and tips for navigating through them

 

Audience for both sessions:  All levels of internal auditors.  The afternoon session qualifies for 4 CPE in behavioral ethics and will fulfill the ethics requirements for Maryland CPAs.


Date: Friday, February 7th, 2014


Time: 8:30 – 5:00 (Registration starts at 8:00)


Notes: Continental Breakfast, Lunch and Coffee Breaks included


CPE: 8


Speaker Bio:

Ms. Fountain is a Kansas CPA and also holds her MBA. She has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined.  Ms. Fountain is the founder of Fountain GRC, a consulting practice specializing in accounting, internal audit, Sarbanes-Oxley Compliance, ERM, Fraud and corporate governance and compliance. Ms. Fountain is an experience trainer and speaker as well as a subject matter expert in internal audit, SOX and ERM. She obtained her Bachelor's degress from Pittburh State University and her MBA from Washburn University. She is an adjunct instructor for the University of Kansas where she has developed the University's first internal audit currciculum for the Master's Level Accountancy program.

 

Questions or for more information: Contact Jim Jarrell, VP of Programs at jjarrel1@jhu.edu or 443-997-6393

Baker Tilly Virchow Krause, LLP is a full-service accounting and advisory firm whose specialized professionals connect with you and your business through refreshing candor and clear industry insight.

Our specialized expertise and global reach in audit, tax, and management consulting support your organization's goals with knowledgeable, competitive insights. As an independent member of Baker Tilly International, the world's eighth largest network of accounting firms, we bring you access to market-specific knowledge in 131 countries.

- See more at: http://www.bakertilly.com/About-us#sthash.3pcvGF0Z.dpuf

Baker Tilly Virchow Krause, LLP is a full-service accounting and advisory firm whose specialized professionals connect with you and your business through refreshing candor and clear industry insight.

Our specialized expertise and global reach in audit, tax, and management consulting support your organization's goals with knowledgeable, competitive insights. As an independent member of Baker Tilly International, the world's eighth largest network of accounting firms, we bring you access to market-specific knowledge in 131 countries.

- See more at: http://www.bakertilly.com/About-us#sthash.3pcvGF0Z.dpufQuestions or for more information: Contact Jim Jarrell, VP of Programs at jjarrel1@jhu.edu or 443-997-6393
Have questions about Internal Audit and Ethics in Today's Economy (meets MD ethics requirement)? Contact IIA Baltimore Chapter

When & Where


The Conference Center at the Maritime Institute
692 Maritime Boulevard
Building #3 – Bridgeroom
Linthicum Heights, MD 21090

Friday, February 7, 2014 from 8:30 AM to 5:00 PM (EST)


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