April/May 2008

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From the President's Study: A Look Back as The Foundation Moves Ahead

This will be my last message to you as The Institute of Internal Auditors Research Foundation’s (IIARF) president. As I look back on my tenure over the past three years, I feel honored to have been involved in the many accomplishments The Foundation has achieved.

The IIA Research Foundation has experienced steady growth since 2004. Some of the more significant factors contributing to this growth can be attributable to the Sarbanes-Oxley Act of 2002, the creation and release of the first internal auditing textbook, and the establishment of the William G. Bishop III, CIA, Memorial Fund. The Sarbanes-Oxley Act led to an increase in topical research dedicated to governance and internal controls, the textbook created a tool for the academic arena globally as well as providing resources for professional development, and The Bishop Fund generated contributions that were used to fund research for The Common Body of Knowledge 2006 (CBOK) study. 

This comprehensive, global survey was designed to answer an important question, "How is internal auditing practiced around the world today?" The survey was translated into 17 languages and over 9,300 responses were received. And with the completion of this portion of the project, The Research Foundation is now committed to a continued exploration of the knowledge gained through the CBOK survey. (See related article in this issue.)

Other highlights I look back on with pride include:

• Publication of Internal Auditing: Assurance and Consulting Services. This textbook brought together academia and working practitioners for a unique collaboration that ensures the right type of educational resources are available to train the next generation of internal auditors.
• Celebration of The Foundation’s 30th anniversary in 2006, a milestone celebration that offered new opportunities for increasing awareness of the importance of research and the role of The IIARF.
• Introduction of an annual IT Audit Research Topics symposium in coordination with The IIA Advanced Technology Committee, for purposes of evaluating IT audit research, creating a pipeline and portfolio of IT audit topics, and promoting emerging IT audit research projects.
• Launch of the Sabbatical Opportunity for Academic Researchers (SOAR), designed to partner us with top researchers in the field and produce reports and materials on emerging issues to help audit practitioners.
• Initiation of a translations program to translate English-language publications into other languages, and vice versa. At the same time, we continued to coordinate the development of research and educational products with other areas of The IIA.
• Production of 60 IIARF research reports and educational products that help provide understanding of the internal audit profession, guide practitioners in advancing their professionalism, and shape the future of internal auditing.

In 2008 and beyond, our goals include:

• Enhancing relationships with external and associated organizations for more effective partnering and collaboration.
• Developing a network to gather diverse internal audit research, and to cultivate relationships among researchers globally.
• Continuing to work with IIA chapters and institutes on understanding the use of CBOK data, integrating it into local research projects, and incorporating CBOK’s findings into other areas and services of The IIA.
• Enhancing the customer experience for IIARF Bookstore purchasers, including investigating alternate methods of content delivery, and global distribution options.
• Continuing to work hard to deliver timely, globally relevant research and educational products to enhance the development and effectiveness of the internal audit profession.

We appreciate the support of our donors! Funding these and other Foundation projects is key to our success. The ongoing support of companies, individuals, and chapters and institutes worldwide is necessary to ensure these projects can be completed and The Foundation accomplishes its mission. 

It has been a sincere pleasure to serve as president of The Foundation. I appreciate all of the support I received from you in the past three years. And most importantly, I would like to thank the outstanding staff of The Foundation, whose dedication, passion, and ability made these accomplishments possible.

I look forward to continuing my support of The Foundation as I serve The IIA in a different role. In the next issue of Research Foundation Report, you will meet The IIARF’s incoming president, Paul J. Sobel, CIA. I know The Foundation will continue to thrive and grow under his capable stewardship.