Advocacy

Update

Kevin O’Neill,

Deputy Global Managing Partner for

Public Policy, Investigatory and

Regulatory Solutions

Squire Patton Boggs LLP

About Squire Patton Boggs

• Our firm has nearly 1,500 lawyers in 44 offices across 21

countries

• We are proud to have the most experienced and well-

recognized public policy practice in the US and

internationally

• We help The IIA assess, in advance or in real time, what

government policies could affect its members’ interests

• We make sure your issues are heard by the right people

The Role of Public Policy

• Public Policy Professionals strategize and determine the best

ways to advocate on behalf of clients’ interests to various key

stakeholders (most often policymakers and their staff)

• As part of our job as lobbyists for The IIA, we:– Coordinate with The IIA’s staff to develop an advocacy plan (including

legislative, regulatory, and media goals, as well as priority issue areas)

– Research and analyze legislative and regulatory proposals

– Monitor and report on developments

– Attend congressional and regulatory hearings and events

– Build and work with coalitions interested in the same issues

– Educate, advocate to, and liaise with key stakeholders regarding issues

of importance to The IIA

IIA Federal Advocacy Goals

• Short-term Goal:

– Introduce The IIA to policymakers and regulators

• Medium-term Goals:

– Become a trusted source of information

– Participate in the dialogue regarding good governance,

risk management, and internal controls

• Long-term Goals:

– Be the primary voice for the internal auditing profession

– Recognition of The IIA’s standards in legislation and/or

regulation

IIA Staff Accomplishments

• IIA staff has had nearly 100 visits with policymakers,

regulators, and relevant stakeholders (of that total, 44

meetings have been held with Congressional Staff members

and/or Members of Congress)

• Squire Patton Boggs staff meet regularly with IIA’s Leaders

– Approximately 20 in-person meetings

– Two Advocacy Days with Industry Leaders

– Regular Conference Calls

– Weekly Updates on Washington Developments, Hearing

Reports, and Analyses on Topics of Interest

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: House Leadership

House Majority Leader

Kevin McCarthy (R-CA)Speaker of the House

John Boehner (R-OH)

House Minority Whip

Steny Hoyer (D-MD)

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: Senate Leadership

Senate Minority Leader

Harry Reid (D-NV)

Senate Majority Leader

Mitch McConnell (R-KY)

Democratic Conference

Vice Chair

Chuck Schumer (D-NY)

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: CPA Caucus

Rep. Mike Conaway

(R-TX)Rep. Patrick Murphy

(D-FL)

Sen. Ron Johnson

(R-WI)Sen. Mike Enzi

(R-WY)

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: House Financial Services Committee

Chairman

Jeb Hensarling

(R-TX)

Ranking Member

Maxine Waters

(D-CA)

Subcommittee

Ranking Member

Rep. Carolyn

Maloney (D-NY)

Subcommittee Chair

Rep. Sean Duffy

(R-WI)

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: House Financial Services Committee

Rep. Randy

Hultgren (R-IL)

Rep. Steve Stivers

(R-OH)

Rep. Scott Tipton

(R-CO)Rep. French Hill

(R-AR)

Offices with which The IIA has met since

the beginning of its Advocacy Campaign

114th Congress: Senate Banking Committee

Subcommittee Chair

Sen. Mike Crapo

(R-ID)

Sen. Jack Reed

(D-RI)

Sen. Bob Casey

(D-PA)

Chairman

Sen. Richard Shelby

(R-AL)

Recent Legislative Deliverables

• Advocacy Materials

• IG Letters; Continued Dialogue with Staff on IG Vacancies

• Comments on Senator Jack Reed’s (D-RI) Housing Proposal

• Dialogue on Cybersecurity Concerns

• Discussions on Draft Language for Senate Companion Bill to

House SEC Cost-Benefit Analysis Bill Introduced by Rep.

Scott Garrett (R-NJ)

• IG Review Committee Memo

• Comments on the Defense Department Audit Advisory Panel

Legislation

Regulators with whom The IIA has met since

the beginning of its Advocacy Campaign

• SEC

– Have met with four of the Commissioners

• PCAOB

– Have met with the Board Members

• CFPB

• OCC

Recent Regulatory Deliverables

• Began a dialogue with various agencies, such as the SEC

and CFPB, on rulemakings under consideration

• Engaged with the OCC to gain regulatory feedback on The

IIA’s standards that are currently under development

• Continued advocating for reference to The IIA’s Standards in

Agency Rulemakings

Recent Media Outreach Deliverables

2015 Legislative Goals

• Relationship Building with Policymakers

• Requests for IIA Testimony or Comments

– Have already received a request for and submitted a letter of support in

favor of Rep. Steve Stivers’ (R-OH) CFPB IG Bill

• Speakers/Appearances at IIA Events

– Rep. French Hill (R-AR) is set to speak at the Financial Services

Exchange in September

• Legislative Acknowledgement of the Function of Internal Audit

2015 Legislative Goals

• Greater Awareness of the Role of Internal Auditors

• Participation in Drafting Legislation that Affects the Auditing

profession (e.g., NDAA)

– Regularly communicating with staff to keep apprised of relevant,

upcoming legislation

• Host a Training/Briefing for CPA Caucus Members and staff

– Presently coordinating with Rep. Mike Conaway’s (R-TX) office to

arrange a training/briefing in the coming months for Members/staff on the

role of internal audit

2015 Regulatory Goals

• Relationship Building with Regulatory Targets

• Navigating Regulatory Agencies

• Increased References to The IIA’s Standards in New

Regulations

– For example, the Metropolitan Washington Airports Authority (MWAA)

recently required its internal auditors to follow IIA standards

2015 Regulatory Goals

• Speakers/Appearances at IIA Events

– Steve Merriett, Deputy Associate Director and Chief Accountant,

Federal Reserve Board; and Molly Scherf, Deputy Comptroller, Large

Banks, Office of the Comptroller of the Currency will speak at the

Financial Services Exchange in September

• Inbound Agency Contacts with The IIA

• Greater Awareness of the Role of Internal Auditors

2015 Media Outreach Goals

• Capitalize on opportunities to educate Washington about the

internal auditing profession through media outlets

– Clark Ervin (partner at Squire Patton Boggs and former IG of the

Department of Homeland Security from ‘03-’04, as well as of the

State Department and Broadcasting Board of Governors from ‘01-’02)

will continue to play an integral role in seeking media opportunities for

The IIA

• Become a resource to the media when the internal auditing

profession must comment on regulations, legislation, or

current affairs

• Securing speakers for September 2015 Financial Services

Exchange in Washington

Priority Issues for the 114th Congress

• Inspectors General (Filling Vacancies and Establishing an

Independent CFPB IG)

• Dodd-Frank Act Implementation and Compliance

• Dodd-Frank Act Reforms

• Addressing the Current Regulatory Burden

• Oversight of Agencies (especially FSOC and CFPB, as well

as the SEC and Federal Reserve)

• Tax Reform

• Cybersecurity

• Military/Defense/Government Auditing

How You Can Help

• To assist in The IIA’s advocacy efforts, it is critical that you

engage with members of your local chapter to get a sense

about what issues are important to them

• It is equally important that you then relay these issues to IIA

staff, as they will use that information to inform the advocacy

plan we develop (and constantly refine) for The IIA

How You Can Help

• When we meet with policymakers, they are particularly

interested to hear about the issues that their constituents are

having, so any information you provide to IIA staff is helpful in

shaping our advocacy plan and attracting the attention and

support of your respective representatives

• The IIA is building its grassroots network for future

assistance. If you have a relationship with any Member of

Congress or Congressional staff member, please let IIA staff

know.

Questions

• Any Questions?