The Cheddar Letter

Points of interest

• Events

• New Committee

• Excel Insights

• CPE Changes

• Event Recaps

• Board Bio’s

• Scholarship Update

• CIA Learning System

• CIA Congratulations

President’s Message: It is hard to believe that we are already a month and a

half into the new year! With the end to the calendar

year, we just passed the mid-point of our Chapter year.

The second half of our year is shaping up to be ex-

citing, with four seminars and a social event in plan-

ning.

As I discussed in the July Cheddar Letter, Service to

Members is our top priority. A part of that service is

providing a well-rounded offering of quality CPEs,

while still maintaining a reasonable price.

Our seminars are typically priced at $125 (if feasible)

for IIA members, which is well below seminars offered

by other professional organizations.

Keep an eye on the Cheddar Letter, your inbox and our

website for additional details for the upcoming events:

March 20—Fraud & Ethics

April 12–Cybersecurity Risk and Reporting

May 17—Leadership & Negotiation

June 19—Data Storytelling and Visualization

February 2018

2

Upcoming Events (Summary)

March 20–Fraud Prevention, Detection and Auditing (includes 2 Ethics CPE)

Attendees will take away a series of ideas on how to strengthen their control environment, as

well as leading audit techniques. The speaker is Ron Kral from Candela Solutions. This ses-

sion includes 2 hours of Ethics training. See flier and registration link on page 3.

Location: Radisson Conference Center, Green Bay

April 12–Cybersecurity—From Risk to Reporting

This all day presentation will look at the process of identifying, quantifying, testing, and re-

porting on cybersecurity risk. The discussion will include exercises that can be taken back to

your respective businesses and provide tools to map your risk, build a program to test and

mitigate risk, and provide results that are able to be communicated no matter the level of

technical understanding. See flier and registration link on page 4.

Location: TBD

May 17—Leadership & Negotiation—Be a Connector

Jay Gubrud will deliver a full day seminar on Leadership. Jay is the “car guy” who makes a

practice of using car driving analogies to make the lessons stick. This session is suited for all

levels of audit as well as accounting professionals. See flier and registration link on page 5.

Location: Fox Valley Technical College, Appleton

June 19—Data Storytelling and Visualization

This is Part 2 in a two part Data Analytics series offered by the Chapter. The leader of this

workshop will be Bill Shander, founder of Beehive Media, an information design and data vis-

ualization agency. Bill will help us understand the neuroscience and psychology of visualiza-

tions and how your audience will receive your infographics, allowing your data to tell a more

effective story. This session will include a tour of the newly redesigned, premier parkland

golf course at SentryWorld.

Location: SentryWorld, Stevens Point

All events are also posted on our Chapter website: https://chapters.theiia.org/foxvalley-

centralwisconsin/Events/Pages/default.aspx

Click here to register

Upcoming Event Details

3

Upcoming Event Details

4

Upcoming Event Details

5

“Professionalism is knowing how to do it, when to do it, and doing it.” - Frank Tyger

It is with great pleasure that we announce a new committee as part of

our chapter—the IIA Young Professionals Committee. This is part of a

cross country effort by the IIA to help recruit and encourage young pro-

fessionals to consider audit as a desired career choice.

Our chapter is proud to participate in this great opportunity and we will

be sharing more information about ways you

can be involved in the months to come.

Questions on this topic can be sent to:

foxvalley.centralWI.IIA@gmail.com

6

Young Professionals Committee

The

Fun

ny

Bo

ne

7

Excel Insights

Information Compliments of: http://

www.softwarepro.com/articles/excel_tips.htm

Whether you are a beginning Excel user or an expert, you will likely discover something new among these essential Microsoft Excel tips: 1. Display Formulas To display worksheet formulas for auditing and printing, press [Ctrl] + ~ (called a tilde and found on many keyboards to the left of the #1 key). Use this shortcut again to revert back to work-sheet results. In Excel 2010 and Excel 2007, this option, Show Formulas, is found under the For-mulas tab. 2. Fast Moves Between Worksheets in a Work-book Try these keyboard shortcuts to toggle or cycle between worksheets: Next worksheet: [Ctrl] + [Page Down] Previous worksheet: [Ctrl] + [Page Up]

3. Fast Data Entry Save time with these quick and easy ways to enter data into an Excel worksheet: Enter current date: [Ctrl] + ; Repeat data from the cell immediately above: [Ctrl] + ' (single quote) 4. Wrapping Text When entering titles or long paragraphs of text, the [Enter] key will move to a new cell. Instead press [Alt] + [Enter] to create a line break or new line in the same cell. With this shortcut, you can decide where the text breaks for col-umn headings, text descriptions, and Excel notes and comments. 5. Go To Shortcut Quickly move to a specific cell or range by press-ing [F5] or [Ctrl] + G (Go To).

6. Editing Cells Excel has lots of choices for editing text, values or a formula in a worksheet cell including:

• Typing a new entry in the cell (no need to delete previous contents)

• Double-click on cell to open "in-place" or direct editing

• Press [F2] to open the current cell for editing

• Click once into the Formula Bar (above column headings)

• Press [Delete] to clear contents (cell is empty but retains formatting)

When a cell is opened for editing, click with

the mouse or use arrow keys, [Backspace],

[Delete], [Home] and [End] to navigate within

the cell.

7. Keyboard Shortcut to Go To the Formula Bar The previous Excel tip included the option to edit a cell by pressing the [F2] function key which, by default, positions the cursor in the cell instead of the Formula bar. If you really like keyboard shortcuts over the mouse, you can change the [F2] function key so it moves directly to the Formula bar. Just follow the steps below for your version of Microsoft Ex-cel: a.Excel 2010: Pick the File tab and then select Options from the bottom of the screen. Excel 2007: Click the Office button and pick Excel Options (at the bottom right). b.Select Advanced in the left pane. Uncheck the Allow editing directly in cell op-tion. OK to apply.

Heads up Auditors, 2018 is bringing lots of changes

including new requirements for Continuing Profes-

sional Education (CPE). All IIA certified professionals

will be required to earn two CPE/CPD credits in Eth-

ics in order to maintain certification.

Watch our website and the web pages of other Wis-

consin chapters for local events and continuing edu-

cation opportunities to count toward your CPE!

Contact foxvalley.centralWI.IIA@gmail.com with any

questions.

As auditors we like to take

the opportunity to stop,

look, and listen (stop and

see what the situation is,

look at all of the contrib-

uting factors, and listen to

auditees for their insight

and feedback on the situa-

tion) – and then identify

the root cause. If we look

hard at factors that contrib-

ute to cultural failures, we

can circle back to the ability

to communicate and “seek

to understand” in the

office.

Communication is so vital

that without it, we start to

see problems such as poor

performance, frustrated ex-

ecutives, offended staff,

and confused workers crav-

ing direction.

The book Dancing with

Strangers, provides readers

with solutions which can be

leveraged through effective

communication for enhanc-

ing the workplace.

Weather we are seasoned

auditors, or new to the pro-

fession, we are always look-

ing for ways to add value to

our organizations and grow

in continuing education.

Check out the website for

more information.

8

Changes to CPE

Resource: Dancing with Strangers Suggested by an IIA Chapter Member

Board Member Bios

Last month in our

newsletter we an-

nounced a segment

that would showcase

our very own chapter

board members as well

as their audit experi-

ences, career growth,

and pearls of wisdom.

This month, it is with

great pleasure that we

present to you Carmela

Schmitz and Ryan Strei-

cher.

Tell Us Your Story Carmela Schmitz

Meet Carmela Schmitz, experienced audit professional and

long standing member of the IIA. Carmela began her audit

career at Associated Banc-Corp as a Staff Auditor and has held

multiple positions in Internal Audit including Audit Manager,

Vice President – Audit Officer, and Vice President – Special

Projects Audit Manager. Apart from Associated Bank, she

worked as a Project Professional in the Risk Advisory Services

division of Experis Finance. Here she performed risk-based

internal audits for various financial institutions.

Looking back on her career, Carmela would say she has been

influenced by her first Internal Audit Manager: “He ensured I

was trained properly, promoted me, gave me honest feedback

(direct, yet always kind) and encouraged me to obtain profes-

sional certification.” Little did she know, through audit semi-

nars she would eventually become involved in the Fox Valley

IIA chapter in leadership positions. While serving our chapter,

Carmela has contributed as President (2 terms), 2nd Vice Pres-

ident (1 term), and member of the Board of Governors since

2006.

As she enjoys a successful career, Carmela recollects a few

favorite audit memories including traveling with audit teams

to different cities and being like family on the road, perform-

ing fraud investigations which resulted in prosecution, and

working on systems conversion/mergers as part of conversion

teams. Currently Carmela is working as a Senior Financial Au-

ditor for the Oneida Nation where she develops and performs

operational audits and gaming audits in compliance with the

Indian Gaming Regulatory Act and the National Indian Gaming

Commission.

Please join us in a virtual applaud to say thank you Carmela for

all that you do!

9

“Get to know your employees. That’s how you build empathy that shapes your leadership and your corporate culture.” - Anonymous Wisdom

Looking to Network ?

Take some time to get

to know your fellow

chapter members. Try

scheduling a team

lunch and learn with

another audit group in

the chapter. You can

use this time to share

audit techniques, dis-

cover resources for

continuing education,

or get everyone’s

thoughts on audit top-

ics in the news. This

will help reduce audit

fatigue in your office

and grow your

knowledge of other

resources in our audit

community.

Not sure who to reach

out to? No problem,

send a message to fox-

valley.centralWI.IIA@gm

ail.com and we can help

connect you.

Tell Us Your Story Continued . . .

Ryan Streicher

Ryan obtained his Bachelor’s Degree in Business Administra-

tion (Accounting & Finance) from UWGB. He also has his CPA

and is a Certified Anti Money Laundering Specialist (CAMS).

After college, he obtained his first and current internal audit/

risk based position with Associated Bank in Green Bay as a

Staff Auditor.

In his spare time, he enjoys doing things outdoors such as

running, hiking and hunting.

While attending a student night at UWGB as an IIA member

and Alumni, Cara Newman, our current chapter President,

asked if he would be interested in becoming the chapter’s

Webmaster. Without having much IT experience, he figured

it would be a good opportunity to learn IT skills and learn

more about our chapter since almost everything is posted on

the website. However, as he began attending more student

nights, he realized Academic Relations was better aligned

with his interests. In July of 2017, he became the Chair of the

Academic Relations Committee (ARC). The goal of the ARC is

to work with colleges and students within our chapter’s foot-

print to spread awareness of internal audit as a career and as

a profession.

Please join us in a virtual applaud to say thank you Ryan for

all that you do!

10

Photo Contributed by Ryan

11

Contributed by Ryan Streicher

On December 19, the Academic Relations Committee award-

ed two separate $750 scholarships to Brad Wiegman from

UW-Oshkosh and Gaby Carrillo from St. Norbert College in De

Pere.

Brad is majoring in Accounting and Finance with an anticipated graduation date in

May of 2018.

Gaby is majoring in Accounting and minoring in Spanish with an anticipated gradua-

tion date in May of 2019.

While we only had two applicants this year, both Brad and Gaby had prior experi-

ence as internal audit interns and had outstanding academic accomplishments.

Both recipients were invited to attend our next social event, which is still in the

planning phase so stay tuned!

Congratulations, Brad and Gaby!

Scholarship Recipients

Brad Wiegman, UW-Oshkosh Gaby Carrillo, St. Norbert College

12

13

Sandra Lisowe, IIA Fox Valley / Central WI Chapter

member, earned the 2017 William S. Smith CIA—

Certificate of Honors Award from the Professional

Certification Board and the Board of Directors of The

Institute of Internal Auditors for her outstanding per-

formance on the CIA exam.

This means that in addition to successfully completing

the CIA exam on the first attempt for each part, she has also submitted one of the

best exam papers following that of the Gold, Silver, and Bronze Medalists.

Congratulations, Sandra, on this impressive achievement!

The Smith awards are named in honor of the first Chairman of the Board of Regents,

who was a driving force behind the development of the CIA program. Consideration

for the Smith awards is based on a candidate’s performance on the core parts of the

CIA exam (Parts I, II, and III).

CIA Certificate of Honors Award

As the only globally recognized certification for internal auditors, becoming a

Certified Internal Auditor® (CIA®) is the optimum way to communicate under-

standing of The IIA’s Standards and how to apply them.

Adding the CIA credential to your resume, LinkedIn profile, and business card will

help you stand out and demonstrate you are:

• A true expert who understands and can apply The IIA's Standards.

• A stronger, more competent professional.

• Equipped for career-advancing opportunities.

• A credible and trusted internal auditor.

• Differentiated from your peers.

CIAs earn on average $38,000 more annually than those without a certification,*

so get started now.

Click here to learn more about how to register and for resources.

Also, note that the exam is changing for 2019; click here to read about it.

Why CIA?

Contributed by Alissa Oudenhoven

On November 14th, Raven Catlin hosted a workshop for the

Chapter on Assessing Corporate Culture at the Tundra Lodge Re-

sort & Conference Center in Green Bay. Ms. Catlin is a globally

recognized speaker and instructor in risk management and inter-

nal audit. She possesses years of diverse internal audit experi-

ence and instructing and facilitating a variety of courses.

Ms. Catlin provided an interactive session of sharing knowledge

and ideas on how to best define culture, identify elements of

culture, perform an assessment of culture, position internal au-

dit to assess culture and communicate the results of the assess-

ment. Feedback on the workshop was positive as attendees in-

dicated Ms. Catlin was dynamic and engaging and attendees en-

joyed creating mind maps for brainstorming ideas on assessing

corporate culture.

Additionally, it was the first time hosting an event at the Tundra

Lodge. Feedback on the new venue was positive.

Thank you to those who attended the workshop.

News from the analysts at Deloitte announced that we can ex-

pect to see updates to regulatory compliance in the banking in-

dustry for 2018.

Take a moment to view the full article.

A highlight of topics in this article include:

• Insight on building and sustaining banks

• Governance

• Resolution Planning

• Data Integrity

• Financial Crimes

• Consumer Protection

14

Recap: Assessing Corporate Culture

2018 Forecast for the Banking Industry

Image of Raven Catlin from the Dallas IIA.

“If you exchange information internationally, you must strengthen data protec-tion. Those are two sides of the same coin.” - Gijs De Vries

Contributed by Ryan Streicher

On November 1st, Ryan Streicher and another IIA member

attended the annual CPA Night at the University of Wisconsin –

Oshkosh. Over 75 accounting students and more than 50 local

CPAs or UWO Alumni with their CPA were present. Throughout

the night, various networking opportunities existed as well as a

silent auction and career path presentation by Dennis Tomorsky,

CEO of the WICPA. Based on the networking opportunities, very

few students are aware that Internal Audit exists as a career

path, solidifying the need to expose students to our profession.

UWO also holds an annual IMA Night in March. If any IIA mem-

bers are also a part of the IMA and would be interested in

attending this event in the spring or would like to volunteer to

assemble a similar event for our chapter, please reach out to

Ryan.Streicher@AssociatedBank.com.

As we progress into a technology driven culture, data pro-

tection becomes a growing concern among our regional,

state, and global businesses. As an auditor and proactive

thinker, consider what you can recommend to your compa-

ny in order to protect the electronic data that is so crucial to

your business.

Check out the following link to see what our friends in the

United Kingdom are doing in 2018 in order to promote Gen-

eral Data Protection. Are there any notable items that we

might be able to apply to local Wisconsin business?

http://www.itpro.co.uk/security/27563/how-to-get-ready-

for-gdpr-2018-data-protection-changes-2

15

UW Oshkosh CPA Night Recap

General Data Protection 2018

About CMS Wire & Norman Marks:

CMSWire is a leading,

native digital publication

produced by Simpler Me-

dia Group, Inc. providing

articles, research and

events for professionals

driving digital customer

experience strategy,

evolving the digital work-

place and creating intelli-

gent information man-

agement practices.

Norman Marks, CPA,

CRMA is an evangelist for

“better run business,”

focusing on corporate

governance, risk manage-

ment, internal audit, en-

terprise performance,

and the value of infor-

mation.

Risks for Internal Auditors in 2018

16

Compliments of https://www.cmswire.com/information-management/8-biggest-risks-for-

internal-auditors-in-2018/

By Norman Marks | Nov 17, 2017

What are the biggest risks for internal audit in 2018?

That was the topic of an article written by consultants at corporate governance recruitment firm Barclay Simpson titled, "What are 6 of the biggest risks for internal auditors in 2018?" From the title it's un-clear whether they are answering the question of “what are the big-gest risks for internal auditors?” or whether it is an attempt to an-swer “what are the biggest risks that should be on the audit plan?”

If it's the first, there’s nothing new here — and a lot is missing. If it's the second, they have totally missed the mark. So what are the big-gest risks for internal auditors in 2018?

Here are eight things for you to consider.

1. Auditing risks that don’t matter to the board and top executives

2. Failing to communicate what matters when it matters

3. An inability to change direction as risks change

4. A lack of the resources necessary to address the risks that matter

5. Wasting precious time and resources

6. Auditing the past and not the future

7. Losing key members of the audit department

8. Failing to attain and retain the confidence of management

Read the full article here.

Cara Newman – President

Melissa Simonis – First Vice President & Secretary

Matt Rotter – Second Vice President

Tim Peterson – Treasurer

foxvalley.centralWI.IIA@gmail.com

Feedback Questions about any of the topics in the letter? Have a

story that you would like to feature? Need a point

person within our Chapter?

Contact us at foxvalley.centralWI.IIA@gmail.com

Check us out online at: https://chapters.theiia.org/foxvalley-centralwisconsin/Pages/default.aspx

History Lesson: Yogi-isms and Auditing

“I first started sharing Yogi-

isms in my lectures to inter-

nal audit professionals in

the 1990s. The quotes

often introduced a bit of

levity into what many con-

sidered serious material.

But I found that many of

Berra's quotes offered

thought-provoking and rele-

vant insight and advice for

internal auditors.“

- Richard Chambers

Our Mission encompasses:

Advocating and promoting the value internal audit profes-sionals add to their organizations.

Providing comprehensive professional, educational and de-

velopment opportunities; standards and other professional practice guidance, and certification programs.

Researching, disseminating, and promoting knowledge con-

cerning internal auditing and its appropriate role in control, risk management, and governance to practitioners and stakeholders.

Educating practitioners and other relevant audiences on best

practices in internal auditing. Bringing together internal auditors from all countries to

share information and experiences.

“If you don't know where you are going, you might wind up someplace else.” ~Yogi Berra

What is the IIA about?

17