February 23, 2009

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Delivering Your Need-to-Know IIA Info

International Financial Reporting Standards (IFRS): What Internal Auditors Need to Know
International Financial Reporting Standards (IFRS) - global accounting standards developed by the International Accounting Standards Board (IASB) - are quickly becoming the worldwide norm for financial statements in publically traded entities. International Financial Reporting Standards (IFRS): What Internal Auditors Need to Know, a new IIA Research Foundation (IIARF) research report that is available for free download, provides internal auditors with a working knowledge of IFRS. Content focuses on the differences between IFRS and U.S. GAAP, internal auditing's responsibility in the IFRS process, key business impacts to expect from IFRS, proposed timelines for IFRS convergence in the United States, and IFRS resources. This new IIARF report will help you plan for the IFRS road ahead. Download the PDF report (99KB) for free here.

COSO Releases Guidance on Monitoring Internal Control
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has just released Guidance on Monitoring Internal Control Systems. Developed by COSO and led by Grant Thornton LLP, the guidance is designed to help organizations better monitor the effectiveness of internal control systems and take timely corrective actions if needed. It is presented in a way that encourages adaptation to individual organizational circumstances and offers an improved approach to effective monitoring implementation that can enhance the efficiency and effectiveness of internal control - in many cases at lower overall costs to the organization. The Introduction can be downloaded for free from COSO's Web site, or the full report can be purchased here.

New GAIN Reports Keep You Up to Date on Hot Internal Audit Trends
To provide you with timely information you can use to enhance your quality of work, The IIA's and IIA Research Foundation's Global Audit Information Network^® (GAIN^®) will be publishing a series of reports throughout 2009 on specific topics representing the latest trends and emerging issues in the world of internal auditing. These regular reports will provide you with useful data and best practices based on survey results, and recommendations from audit professionals in the field. View the first two reports entitled 2009 Hot Topics for the Internal Audit Profession, and 2008 ERM Benchmarking Survey. And make sure to visit the GAIN home page regularly for new reports.

Recharge Yourself and Your Career with Virtual Seminars
The IIA has taken the next step in providing high quality learning opportunities with the announcement of real-time live Virtual Seminars. We've modified our traditional seminar courses into an online learning environment while maintaining the high quality and standard of excellence. Our Virtual Seminars cover the same concepts and materials while utilizing the curriculum and exercises as their traditional counterparts. Upcoming offerings include:

• Enterprise Risk Management: An Introduction / Four sessions over two weeks beginning March 2.
• Operational Auditing: An Introduction / Six sessions over two weeks beginning April 13.

• Operational Auditing: Advanced / Six sessions over two weeks beginning May 4.
• Risk Based Auditing: A Value Add Proposition / Six sessions over two weeks beginning June 15.

Coming soon: The IIA's CIA Learning System Comprehensive Instructor-led Course
Log in to register at www.theiia.org/Training.

Exclusive Member Benefits Keep You Professionally Fit
Did you know that the new Practice Advisories and Practice Guides in the International Professional Practices Framework (IPPF) can only be accessed by IIA Members? And did you know that only IIA Members can tap into the resources available in the Audit Career Center? It's all true, and as a valued IIA Member, you also benefit from a professional network of more than 160,000 professionals, substantial savings on training (attend just one IIA seminar or conference at member pricing and you will recoup your annual dues), your free subscription to Internal Auditor, discounted purchases from The IIA Research Foundation Bookstore, and so much more. Read some of your colleague's other reasons for belonging?