Conference

The actual and future challenges for the internal auditor 2015

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L I T H U A N I A N I N T E R N A L A U D I T O R S C O N F E R E N C E

THE ACTUAL AND FUTURE CHALLENGES FOR THE INTERNAL AUDITOR

20152 June, Vilnius


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FOREWORD To be successful in changing environment of the activity today, shareholders are often required not only to stay sufficiently updated but also to make decisions to stay ahead of competition. Internal auditors who provide the shareholders with recommendations on how to improve and develop management and internal control of an organization ought to develop their competence constantly. The Internal Auditors Conference 2015 is an exclusive event specifically tailored for internal audit practitioners in Lithuania and other countries. On 2 June 2015 internal auditors from Lithuania and other countries will come together in Vilnius, the capital of Lithuania. During the Conference internal audit practitioners will gain insights into the current issues of internal audit during presentations to be delivered by some of the leading authorities in the field and will have an opportunity to give questions during a panel discussion. In addition, the aim of this Conference is to provide a forum for internal audit practitioners of Lithuania and other countries to exchange ideas, knowledge and experiences with their colleagues and hopefully to establish new contacts and new professional relations that can benefit them in their daily work for years to come, a fantastic networking opportunity for the future.

BACKGROUNDIIA Lithuania is a relatively small organization, but it seeks to develop collaboration with IIA Global, to provide opportunities for its members to progress through sharing internal audit knowledge and experience with internal audit practitioners from different organizations of Lithuania and other countries.


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CONFERENCE DETAILS

DATE: 2 June 2015

LOCATION: Holiday Inn Vilnius, Šeimyniškių str. 1, Vilnius, Lithuania

REGISTRATION FEE: for IIA members 120 euro, for non-members 150 euro.

The registration fee ought to be paid via IIA Lithuania (code 124111729), AB SEB bank (code70440), bank account No. LT367044060001624879.

REGISTRATION OPEN: 24 April 2015 – 11 May 2015

To register, go to http://goo.gl/forms/AvJtbdmoqM and complete the registration form. Upon completion, you will receive an email confirmation.

WEBSITE: www.vaa.lt

Visit the website to access all the conference information, contact details, terms and conditions.

THE REGISTRATION FEE INCLUDES:

Access to presentations and a panel discussion;Lunch and refreshments during the conference day and a glass of wine after the conference.


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SPEAKERS

PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE INSTITUTE OF INTERNAL AUDITORS GLOBAL HEADQUARTERS

Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA, is President and CEO of the Institute of Internal Auditors (IIA). He has more than four decades of internal audit and related experience. Previously, Richard F. Chambers was national practice leader in the Internal Audit Advisory Services at PricewaterhouseCoopers; inspector general of the Tennessee Valley Authority; deputy inspector general of the U.S. Postal Service; and director of the U.S. Army Worldwide Internal Review Organization at the Pentagon. He currently serves on the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Board of Directors; the International Integrated Reporting Council (IIRC); and the IIA Board of Directors. Formerly he served on the U.S. President’s Council on Integrity and Efficiency; the Audit Board of the City of Orlando, Florida; the IIA Internal Audit Standards Board; and the IIA North American Board. Richard F. Chambers received the Association of Government Accountants (AGA) Frank Greathouse Distinguished Leadership Award and the National Association of Black Accountants (NABA) Legacy Award. Accounting Today named him one of the Top 100 Most Influential People in Accounting as well as one of 10 tweeters worth following. The National Association of Corporate Directors (NACD) named him one of the most influential leaders in corporate governance. Chambers authored the award-winning book, “Lessons Learned on the Audit Trail“.

RICHARD F. CHAMBERS


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CHAIRMAN OF THE MANAGEMENT BOARD OF THE BANK OF LITHUANIA

Vitas Vasiliauskas is the Chairman of the Management Board of the Bank of Lithuania since 16 April 2011. He has more than two decades experience as a lawyer. For twelve years previously he has worked in public sector as a lawyer and the Head of the Tax Recovery Division of the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania, Director of the Tax Department of the Ministry of Finance of the Republic of Lithuania and Vice-Minister of Finance of the Republic of Lithuania. He also has experience of eight years as a lawyer (field of specialisation – financial law) and as an associated partner in private sector, in law firm Lideika, Petrauskas, Valiūnas ir partneriai LAWIN. Vitas Vasiliauskas studied social sciences (law) and holds a PhD in social sciences (law) from Vilnius University.

VITAS VASILIAUSKAS


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DIRECTOR OF INTERNAL AUDIT OF THE EUROPEAN CENTRAL BANK, CHAIRMAN OF THE INTERNAL AUDITORS COMMITTEE OF THE EUROPEAN SYSTEM OF CENTRAL BANKS

Klaus Gressenbauer joined the European Monetary Institute in December 1997 and the the European Central Bank (ECB) at its inception in 1998. He held a number of management positions in international banking, primarily in the area of controlling and general management. Upon joining the ECB, he first served as Director of Planning & Organisation and was later on appointed Director of Internal Audit. In his ECB capacity and prior to becoming Director of Internal Audit, Klaus Gressenbauer inter alia also served as Chairman of the European System of Central Banks (ESCB) Benchmarking Working Group, Chairman of the ESCB Organisational Analysis Working Group, Member of the ECB Budget Committee, member of the ECB Management Committee, member of the ECB Project Steering Committee, member of the ECB Assets and Liabilities Committee and he is now the Chairman of the ESCB’s Internal Auditors Committee. Klaus Gressenbauer studied communication theories and philosophy and holds a PhD in political sciences from the University of Vienna. He also holds a Master of Business Administration Degree from the International Management Institute in Geneva.

KLAUS GRESSENBAUER


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HEAD OF INTERNAL AUDIT OF THE UNIVERSITY OF TARTU, CHAIRWOMAN OF THE MANAGEMENT BOARD OF THE INSTITUTE OF INTERNAL AUDITORS OF ESTONIA

Elsa Leiten, CGAP, has a background in mathematical statistics and has held positions as a lecturer in statistics, analyst, survey methodologist before starting in internal auditing in 2007. Ever since she has been working in the public sector at the Ministry of Education and Research, Viljandi City Government. Elsa Leiten is the Head of Internal Audit of the University of Tartu. She is a member of the Management Board of the Institute of Internal Auditors of Estonia since 2013 and a chairwoman since 2014.

ELSA LEITEN

INTERNATIONAL SALES MANAGER AT CASEWARE ANALYTICS

Mark is an analytical professional, equipped with a solid understanding of complex information technologies and financial structures. Within CaseWare Analytics he is responsible for the Benelux, Eastern Europe and the Baltics. CaseWare is globally acknowledged as the supplier of Analysis software for auditors and financial professionals since the founding in 1988. More than 400.000 users in 130 countries use the products of CaseWare. With products like IDEA, IDEA Server and Continuous Audit for IDEA the clients are provided with extremely powerful user-friendly solutions. Solutions that help out from complex analyses and including the complete management to build your business controls. IDEA® is a powerful and user-friendly data analysis tool designed to help auditors, accountants and other finance professionals perform data analysis quickly to help improve audits and identify control breakdowns. IDEA® allows you to analyze 100% of your data, guarantees data integrity and provides easy analysis with over 100 audit-relevant tasks.

MARK VAN ZIJTVELD


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INTERNATIONAL EXPERT IN THE FIELD OF LINGUISTIC LIE DETECTION

Nejolla Korris is skilled in Scientific Content Analysis (SCAN), a technique that can determine whether a subject is truthful or deceptive. She has analyzed documents for fraud, international security, arson, sexual assault, homicide and missing persons’ cases, causing some of her clients to dub her the “Human Lie Detector.” Nejolla Korris is a popular speaker on lie detection, social media risk, fraud prevention and investigation, workplace fraud, social engineering and organizational justice. She has spoken internationally throughout the US, Canada and Europe. She has also given presentations in Southeast Asia, Southern and Eastern Africa as well as Brazil and Colombia. Her clients include associations, corporations, government agencies, law enforcement, and the military. Nejolla Korris is a frequent presenter for The Institute of Internal Auditors, Information Systems Audit and Control Association (ISACA), the American Society for Industrial Security, the American Bar Association, the American National Safety Council, the American Institute of Certified Public Accountants and various fraud prevention groups. Nejolla Korris has a BA in Law from Carleton University. She was awarded the Queen’s Diamond Jubilee Medal for her international work in linguistic lie detection. Nejolla Korris serves as the Honorary Consul to Lithuania and was the Chair of the Edmonton Consular Corps. She writes a column in Edmontonians magazine entitled Civil Wars and a blog called the Korrispondent.

NEJOLLA KORRIS


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HEAD OF THE INTERNAL AUDIT DIVISION OF THE BANK OF LITHUANIA, MEMBER OF THE INTERNAL AUDITORS COMMITTEE OF THE EUROPEAN SYSTEM OF CENTRAL BANKS, MEMBER OF THE MANAGEMENT BOARD OF THE INSTITUTE OF INTERNAL AUDITORS OF LITHUANIA

Edita Janušienė has 20-year experience in the field of tax administration, mostly — in the field of tax payer control (a VAT payer control system was created, resident income/expenditure inspections were begun and the principle of substance over form was applied). Four years she worked at the State Control, as a head of performance audit in the fields of government debt, investment, assets, income, social security and labour, health security. The audits were positively assessed by the management of the National Audit Office of Lithuania, Seimas (Parliament) committees and audited subjects. Two years she worked in the Bank of Lithuania internal audit. External reviewers at the end of 2013 assessed well the activities of the Internal Audit Division of the Bank of Lithuania, accenting positive changes in recent years. Since 2014 she is an active member of the Management Board of the Institute of Internal Auditors of Lithuania, responsible for the increase of the dissemination of good audit practice among members of the Institute.

EDITA JANUŠIENE.


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SENIOR CONSULTANT AT THE PRIVATE COMPANY ECONOMIC CONSULTING AND RESEARCH

Jūratė Stravinskaitė has more than 11 years of experience in management consulting. She implemented projects in the areas of process management, quality management and strategic management both in public and private sector organizations. She is a Qualified PRINCE2® Practitioner and manages large management consultancy projects. The Ministry of Health, Ministry of Justice, Ministry of Agriculture, the Prosecution Service of the Republic of Lithuania, the Transport Investment Directorate, private companies Biovela and Mažeikių Nafta are the main clients in Lithuania. Jūratė Stravinskaitė holds a Master of Economics and Business Administration Degree from Karlstad University in Sweden. She is the Process Management and Performance Measurement Expert (QPR) and a Quality Management Systems Auditor / Lead Auditor (based on ISO 9001:2008 standard).

JURATE STRAVINSKAITE- ..


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HUMAN CAPITAL LEADER OF THE PRIVATE COMPANY PRICEWATERHOUSECOOPERS

Lina Gelumbauskaitė joined Vilnius office of the private company PricewaterhouseCoopers in Lithuania in 1995. Since 2005 she became responsible for human resource management in this company. Lina Gelumbauskaitė has an extensive experience in human resource strategy development, implementation and in employees attraction, development and retention issues. She worked at Minsk office of the private company PricewaterhouseCoopers in Belarus in 2010-2011, where she helped to implement and develop local human resource projects. Lina Gelumbauskaitė studied at Vilnius University and acquired a Bachelor’s Degree in English Language and Literature, at the International Business School at Vilnius University and acquired a Bachelor’s Degree in International Business Management and at the Chartered Institute of Personnel and Development in London and acquired a Certificate in Personnel Practice.

LINA GELUMBAUSKAITE.


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8:45 Welcome desk opening

9:15-9:30 Welcome by the Chair

Rita Martišienė, Chairwoman of the Management Board of the Institute of Internal Auditors of Lithuania

9:30-9:45 Importance of Internal Audit for Organization in Current Environment

Vitas Vasiliauskas, the Chairman of the Management Board of the Bank of Lithuania

9:45-10:30 Global Internal Audit Profession in 2015: Challenges and Opportunities

Richard F. Chambers, President and Chief Executive Officer of the Institute of Internal Auditors Global Headquarters

10:30-11:00 Coffee break

11:00-11:40 The Actual and Future Challenges for the Internal Auditor

Klaus Gressenbauer, Director of Internal Audit of the European Central Bank, Chairman of the Internal Auditors Committee of the European System of Central Banks

11:40-12:15 The Challenges for the Internal Auditors in Estonia

Elsa Leiten, Head of Internal Audit of the University of Tartu, Chairwoman of the Management Board of the Institute of Internal Auditors of Estonia

12:15-13:00 Panel Discussion - Trends and Challenges of Global Internal Audit Reflecting Shareholders Expectations

Richard F. Chambers, President and Chief Executive Officer of the Institute of Internal Auditors Global Headquarters

Klaus Gressenbauer, Director of Internal Audit of the European Central Bank, Chairman of the Internal Auditors Committee of the European System of Central Banks

Elsa Leiten, Head of Internal Audit of the University of Tartu, Chairwoman of the Management Board of the Institute of Internal Auditors of Estonia

Alenas Gumuliauskas, Deputy Chief Finance Officer of the private company Lithuania Railways, Member of the Management Board of the Institute of Internal Auditors of Lithuania

AGENDA OF THE CONFERENCE “THE ACTUAL AND FUTURE CHALLENGES

FOR THE INTERNAL AUDITOR”

2 JUNE 2015


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13:00-14:00 Lunch

14:00-15:00 Lie to Me: Improving your Interviewing Skills with Linguistic Lie Detection

Nejolla Korris, International expert in the field of linguistic lie detection

15:00-15:45 Data Audit and Analytics with CaseWare IDEA (IDEA’s application in Fraud prevention)

Mark van Zijtveld, International sales manager at Caseware Analytics

15:45-16:15 Coffee break

16:15-16:45 How to Meet Stakeholder’s Expectations?

Edita Janušienė, Head of the Internal Audit Division of the Bank of Lithuania, Member of the Internal Auditors Committee of the European System of Central Banks, Member of the Management Board of the Institute of Internal Auditors of Lithuania

16:45-17:15 The Challenges of Process Management Systems Implementation

Jūratė Stravinskaitė, Senior consultant of the private company Economic Consulting and Research

17:15-17:35 The Indicators that Create Value (practice of the private company PricewaterhouseCoopers)

Lina Gelumbauskaitė, Human capital leader of the private company Price waterhouseCoopers

17:35-17:45 Closing of the Conference

Rita Martišienė, Chairwoman of the Management Board of the Institute of Internal Auditors of Lithuania

17:45:18:15 Informal discussions on the Conference topics with a glass of wine

AGENDA OF THE CONFERENCE “THE ACTUAL AND FUTURE CHALLENGES

FOR THE INTERNAL AUDITOR”

2 JUNE 2015


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CONTENTS During the Conference internal audit practitioners from different organizations of Lithuania and other countries will enjoy a mixture of presentations and a panel discussion. One panel discussion will be arranged. During the panel discussion internal auditors will be expected to participate and contribute to the discussion. Progress through sharing and 100 percent participation are the key words in this event. During the panel discussion the participants will be expected to give questions and remarks to what was already said straight from their seat in the conference hall.

PANEL DISCUSSION TRENDS AND CHALLENGES OF GLOBAL INTERNAL AUDIT REFLECTING SHAREHOLDERS EXPECTATIONS

The role and stature of internal audit profession gains more and more attention of shareholders over the past decade. In the dynamic and complex global environment organizations must adapt their internal audit functions and stay competitive. The internal auditor must also be compliant with change, a challenge for many internal auditors that require courage. The purview of the internal auditor has increased with the change to integrated thinking and reporting in an integrated manner. The internal auditor has to take account of the risks involved with the resources used by the organisation and the relationship between the organization and its shareholders. He or she has to be better prepared, more informed about the resources used and the needs, interests and expectations of shareholders. High performing internal audit functions today help shareholders to manage and control organization in the best way suitable for changing and complex operating environment. Recently assurance over the effectiveness of risk management, compliance auditing and assurance over the effectiveness of strategic and business risk management have taken central stage.


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The panel discussion will discuss some of the expectations of shareholders, the global environment in which internal audit operates, trends and challenges of global internal audit, key risks and opportunities facing the profession, the characteristics of high performing internal audit function, likely scenarios of internal auditing over the next five years, trends and challenges in keeping a high performing internal audit function in the organization, the role of the internal auditor in the organization and its part in creating an efficient, transparent and fruitful relationship with shareholders, core capabilities that internal auditors and their departments need to demonstrate for success.

At the conclusion of the panel discussion the participants will:

y Understand how the expectations of shareholders have changed over the past decade;

y Understand how changing expectations and environment influence internal audit;

y Have a clear picture of key risks and opportunities facing the profession;

y Have a clear picture of the challenges that face internal audit in the organization.


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VENUE

HOLIDAY INN VILNIUS CONFERENCE CENTRE

Holiday Inn Vilnius Conference Centre is located close to Vilnius Old Town in a 4 star hotel Holiday Inn Vilnius (www.holidayinnvilnius.lt). Accommodation, conference hall and meals are within short walking distance of each other. Gathering all participants in one location will allow for plenty of networking opportunities. Situated only 8 km from Vilnius International Airport, Holiday Inn Vilnius is ideally placed to facilitate arrival and departure for lectors and participants of the Conference.

Facilities:

y Wireless high-speed internet

y Air conditioning

y Sauna

y Lobby Bar

BRING YOUR SPOUSE TO VILNIUS While you are exploring new paths and future challenges of internal auditing, your spouse would explore Vilnius and enjoy what our beautiful city has to offer in June. All information about sightseeing tours and other places in Vilnius can be found on the websites www.vilniuscitytour.com, www.vilnius-tourism.lt, www.inyourpocket.com/lithuania/vilnius.If you and your spouse would like to prolong your stay in Vilnius after the Conference, we recommend that you book any extra hotel nights as early as possible. You can contact the Conference Manager by e-mail: [email protected], phone: + 370 5 210 3016, mobile: + 370 6 128 6548.


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WHY CONFERENCE 2015? y Share the perspective of some of the leading authorities

in the field

y Invest in your own competency development

y Listen to presentations on current topics in internal audit

y Participate in a panel discussion, interact closely with experts, share and learn from each othert’s experience

y Expand your professional network and make new contacts

y Earn up to 8 CPE credits


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Conference

Leadership & Management

Transcript of Conference