The F.A.N.
The F.A.N. Finance & Accounting News You Can Use February 2015 Volume !I, Issue MMXV IMA Chair Elect Ben Mulling to Speak at February 19th Dinner Meeting Benjamin R. Mulling, CMA, CPA, CITP, assumed the role of Chief Financial Officer of TENTE Casters, Inc. in 2008 at the age of 28. In 2012, Ben was recognized as IMA Young Professional of the Year. In 2014, he was elected IMA Global Chair Elect and on July 1, 2015 he will become IMA Global Chair. in Irving February 20-21. On Thursday, February 19th, he will speak at the Dallas Fort Worth Area Chapter’s Dinner Meeting on “Follow the Leader: How to Effectively Lead Change in a Changing Environment”. As part of his presentation, he will share his story of the challenges and insights for successfully taking on the role of the CFO at a very young age. This is a presentation you don’t want to miss. Ben will be attending the IMA Global Board and Board Committee Meetings Call for Nominations Fraud Hotline-Cyber Security Upcoming Meetings The next Networking Happy Hour will be February 12th at the Ranch. For more information or to register, go to http://www.dallasima.com/events.htm Scholarship Fund Webinars Habitat for Humanity Walk-a-Thon Viewing Cyber-Security Through a COSO Lens Okay, I know I’m back on my obsession with cybersecurity, but whenever I find new resources to deal with THE major threat to our nation and to each of us individually, I’m going to do it. In the January 23, 2015 issue of “CGMA Magazine Update,” Mr. Ken Tysiac, a CGMA Magazine editorial director, authored the above article. I will be excerpting from that article and referring to the various COSO principles, but not discuss them in detail in this issue of Fraud Hotline; I will try to keep this as brief as possible, but “keep you on your toes” at the same time. I think almost everyone, individually and in business, recognizes that cyber-security is a constant source of major concern as high-profile data breaches make new headlines almost daily. The importance of this threat and doing what we have to do to combat it even made it in the President’s State of the Union message….it doesn’t get much higher focus and attention than that. In a new report just released, “COSO in the Cyber Age,” cyber-security can be viewed through the lens of the updated COSO internal control framework in some of the following ways: Principle 6 – Organizations specify objectives with sufficient clarity to enable the identification of risks relating to objectives. Principle 7 – The organization identifies risks to the achievement of its objectives across the entity and analyzes risks as a basis for determining how the risks should be managed. Principle 8 – The organization considers the potential for fraud in assessing risks to the achievement of objectives. Principle 9 – The organization identifies and assesses changes that could significantly impact the system of internal control. Principles 10, 11, and 12 – In following these principles, the organization selects, develops, and deploys control activities. Principle 13 – The organization obtains or generates and uses relevant, quality information to support the functioning of internal control. Principle 14 – The organization internally communicates information, including objectives and responsibilities for internal control, necessary to support the functioning of internal control. The report also suggests that organizations should ask: Are we focused on the right things? Are we proactive or reactive? Are we adapting to change? Do we have the right talent? Are we incentivizing openness and collaboration? Can executive management articulate its cyber-risks and explain its approach and response to such risks? For some of you, the principles cited might seem to be an over-simplification of the problem or just more “gobbly-gook”…..not so. This new COSO guidance simply puts organizations on the right path toward confronting and managing the frightening number of cyber-attacks. In my opinion it will take the focused and coordinated efforts of government AND the private sector…..working together to fight the scourge that threatens us all. I hope you not only recognize the threat, but passionately join the fight against it. Thank you. Donald R. Burg, CMA, CPA, CFE, CGMA, CEBS Member – Dallas Fort Worth Chapter of IMA Dallas Fort Worth Area Chapter members can benefit from networking with other members of the chapter. To connect with other chapter members or find chapter members who work at companies of interest, go to www.imanet.org, login with your member ID and IMA password, click on Groups and Networking, then click on LinkUp IMA, select Communities then My Communities, select Dallas Fort Worth Area Chapter (only available to chapter members), select Enter. You can also click on Members at the top of the page to search the data base by first name, last name and/ or company. The IMA Global Board of Directors meets 3 times each year (February, June and October). The February 2015 meeting will be at the Dallas Marriott Las Colinas, Irving. Board Committees will meet on Friday, February 20th and will be followed by the Board Meeting on Saturday, February 21st. Members are welcome to attend the Board Meeting Ben Mulling, IMA Global Chair Elect, will speak at the Dallas Fort Worth Area Chapter’s February 19th Dinner Meeting which will also be at the Dallas Marriott Las Colinas. The Memorial Education Fund (MEF) and the Stuart Cameron & Margaret McLeod Memorial Scholarships – Deadline Feb. 15, 2015 The Institute of Management Accountants is accepting applications for its scholarship program: The Memorial Education Fund (MEF) and the Stuart Cameron & Margaret McLeod Memorial Scholarships, now through February 15, 2015. Interested students can download an application form at IMA’s website at http://www.imanet.org/PDFs/Public/Research/2015%20IMA%20Scholarship%20Pr% 20MEFSCMS_%20Flyer-%20august%201_DJD%20-%20MB%20(2)_writable%20frm.pdf. All IMA student members who have not previously received an IMA scholarship are eligible to apply. MEF Scholarships are given at both the undergraduate and graduate student levels, and are based on academic merit and strength of outside recommendations, among other criteria. The scholarships carry awards ranging from $1,000 to $2,500. In addition, any student who applies for an MEF Scholarship is automatically considered for the prestigious Stuart Cameron and Margaret McLeod Memorial Scholarship. This scholarship, which carries a $5,000 award, is given to one individual among the entire scholarship application pool who exemplifies excellence in all eligibility criteria. The SCMS Scholarship winner will receive complimentary registration for both IMA’s Annual Conference & Exposition in June and the IMA Student Leadership Conference in November. In addition, the winner will received a maximum of $1,000 for the combined cost of lodging and transportation to attend both events. The Stuart Cameron and Margaret McLeod Memorial Scholarship is awarded annually by the Stuart Cameron McLeod Society (SCMS). Founded in 1934, SCMS is a special membership community within IMA whose members share a long history of service to IMA. The deadline to submit scholarship applications is February 15, 2015; winners are announced on or before April 30, 2015. For complete information and application forms, please visit at http:// www.imanet.org/PDFs/Public/Research/2015%20IMA%20Scholarship%20Pr%20MEFSCMS_% 20Flyer-%20august%201_DJD%20-%20MB%20(2)_writable%20frm.pdf. The Dallas Fort Worth Area Chapter of IMA has developed a Sponsorship Program, where firms can promote themselves to our members, guests and many others in a variety of ways (your logo on the Home Page of our website with a link to your website, your logo in our monthly newsletter, recognition at our monthly meetings, etc). Go to http://www.dallasima.com/pages/ Chapter_Sponsorship%20Form.pdf for more information on the program, including the various levels of sponsorship. Also, please go to the Home Page of our website at http://www.dallasima.com to see where your logo will be prominently displayed to our members, guests and many others who visit the site. To see IMA’s Global Membership Profile, go to http:// www.dallasima.com/images/membership_profile.jpg. and finance professionals. Please contact Jim Clemons ([email protected]) if you have any questions, or need additional information. The Dallas Fort Worth Area Chapter is one of IMA’s (Institute of Management Accountants) most active and recognized chapters, with over 900 members. We have monthly meetings (CPE credits), high quality speakers, networking sessions, college faculty and student initiatives, CMA (Certified Management Accountant) exam preparation courses and more. We would welcome the opportunity to partner with your firm, and help you promote it to Dallas Fort Worth accounting and finance professionals. Free NASBA and TSBPA Approved High Quality CPE Webinars Available for IMA Members www.mamrecruiting.com Take advantage of IMA's Free (to IMA Members) High Quality CPE (NASBA and TSBPA Approved) Inside Talk and Leadership Academy Webinars and Internal Control Series Webinars Inside Talk - Register at http://www.imanet.org/ programs_events/webinars.aspx February 11, 2015 (12:00 N) - Your Career Map: How to Land the Job You Want (1.0 CPE) February 18, 2015 (12:00 N) - Expense Management: Best Practices and Benchmarking for 2015 (1.0 CPE) Leadership Academy - Register at http:// www.imanet.org/programs_events/ leadership_academy_webinars.aspx February 17, 2015 (12:00 N) - Mentoring the IMA Way (1.5 CPE) http://cmaprepcourse.com/ Member Profile Updates Please keep your contact information up to date so that you can continue to receive communications from the Dallas Fort Worth Area Chapter or IMA. To update your information, either contact IMA Customer Service at 800-638-4427 or go online to your profile at http:// www.imaonlinestore. com/ PersonifyEbusiness/ Default.aspx? TabId=61 (user ID and password are required). If you would like to change your membership into the Dallas Fort Worth Area Chapter or to another chapter, contact IMA Customer Service at 800-638-4427. New Members, Transfers and New CMAs Welcome New Members Todd Rashawn Anderson, Student Xue Bai Jessica Erin Bateman, Student Welcome Transfers from Other Chapters Justin Cueto, Student Kali Culver, Priefert Mfg., Co., Inc. Glenn A. Mizell, Metro Water Services Jeremy D Smeltz, Student David A. Stern, Solvay Robert L Dickson, Student Diana Greer, Student Chuyang Hong, MG Capital Harold Gregory Moore III, Student Congratulations to our New CMAs Jennifer Marie Mosier Phillip D. Mooneyham Nikki North Brett R Wilkinson Robin Palmer, Student Shelley K Smith Wanli Ye Gleim CMA Review Materials (discounted materials for self study) Gleim provides an extensive selfstudy course for the CMA exam. As a member of the Dallas Fort Worth Area Chapter, you are eligible for significant discounts (from 20 -32%) on any of Gleim's CMA materials, as well as Gleim's online CPE. Texas Regional Council The next Texas Regional Council meeting will be on April 25th at the Holiday Inn DFW West, Bedford, TX. The Council is comprised of the 5 Texas IMA Chapters – Austin Area, Dallas Fort Worth Area, El Paso, Houston and San Antonio. For more information, go to http:// www.imatexascouncil.com/. The Council will hold its 6th Texas Annual Conference “Accelerate Your Career” April 23-24 in Dallas Fort Worth. Bill Jelen “Mr Excel’ will lead a 4 hour pre-conference session “Power Excel” on the 23rd. An additional 8 CPEs will be offered on the 24th, featuring the following sessions - Advanced Data Analysis, Emotional Intelligence for Finance Professionals, Big Data Action Plan for CFOs, Enterprise Cost Reduction: Transforming the Cost Structure for Sustained Benefits, and Choices: Ethical Leadership – A Values based approach (meets the 2 hour annual ethics requirements for CMAs). For more information on the conference, go to http://imatexasconference.com/ index.html. February 12th Networking Happy Hour February 19th Dinner Meeting - Federal Tax Update by Rebecca Sheridan, CPA (Tax Partner, McGladrey LLP) and David Hanna, CPA (Tax Director, McGladrey LLP) and Follow the Leader: How to Effectively Lead Change in a Changing Environment by Benjamin R. Mulling, CMA, CPA, CITP (Chief Financial Officer of TENTE Casters, Inc., IMA Global Chair-Elect) To take advantage of the reduced prices, please contact our chapter representative Melissa Leonard, (800) 874-5346 Ext. 131 or [email protected]. March 12th - Networking Happy Hour March 19th Dinner Meeting – PCAOB Update and Role of Investor Relations Board Members - Officers and Directors Long Range Planning Committee President Jim Clemons Chair Ron Schmidt President-Elect Christina Romero Member Stephanie Carpenter Secretary Stephanie Carpenter Member Jim Clemons Treasurer Erica Tang Member MaryValerie Reeves Administration Team Lead Christina Romero Member Nikki Thirasant-Meyer Director, Meeting Arrangements Ziad Aldahhan Member Jimmie Smith Director, Member Attendance Darya Bechtel Communications & Public Relations Team Lead Jimmie Smith Professional Education Team Lead Nikki Thirasant-Meyer Director, Academic Relations Adrien Dubourg Director, CMA Certification Ron Schmidt Director, CPA CPE Compliance MaryValerie Reeves Membership & Marketing Team Lead Lorna Winston-Blanks Director, Corporate Development Ron Schmidt Director, Young Professionals Team Members and Coordinators Member Attendance Team Joe Baze Employment Coordinator Jimmie Smith Newsletter Editor Carmen Hunt Community Service Coordinator Drew Mohr Webmaster C. D. Allen Education Team ter Stephanie Carpen- Yufen Huang Texas Council Delegate Christina Romero Education Team Martha Gibson Texas Council Delegate Ron Schmidt Education Team dez Sosa Elizabeth Hernan- Alternate Texas Council Delegate Nikki Thirasant-Meyer Academic Relations& Student Affairs Coordinator Rosemarie DeMars Academic Relations& Student Affairs Coordinator Franziska Moberly Academic Relations& Student Affairs Coordinator Susan Rhame Young Professionals Coordinator Miguel Molina Networking Events Coordinator Rebecca Bogie Networking Events Coordinator Lori Burgess The nominating committee will soon begin the process of putting together the team that will lead the Dallas Fort Worth Area Chapter for the 2015-2016 Chapter Year (May 1, 2015 – April 30, 2016). Board members have the opportunity to serve the chapter, establish new relationships and build/develop new skills. The nominating committee would like to challenge new members and members who have not served on the board to consider doing so for next year. Current board members are encouraged to continue their service to the chapter. If you are interested in serving on the Board, please let Nikki Thirasant-Meyer know of your interest. If you know of a chapter member who you feel would be a potential candidate and has an interest in serving on the Board, please nominate them. Nikki Thirasant-Meyer, [email protected], is the chairperson of the nominating committee. Please contact Nikki to let her know what position(s) you would be interested in or to let her know of someone you would like to nominate. In addition, the committee will be contacting members to ask him/her to serve in the coming year. The Board meets via a combination of conference calls and after the dinner meetings September through April, and meets on a separate date May through August. The primary reason for the separate meeting in May through August is to plan for the new chapter year. This requires more time than would be available after a dinner meeting. Dallas Fort Worth IMA Habitat for Humanity If you missed the Angel Tree volunteer opportunity due the busy holiday season, here is another chance to help people in need. The Dallas Fort Worth IMA Chapter is partnering Richardson Area Interfaith Habitat (RAIH) in its annual walk-a-thon to raise money for Habitat for Humanity to be held February 28, 2015. Here is how it works. Sign up on the website link to be provided and collect donations before the walk. Then show up with your donations at the corner Floyd Road and Lookout Drive at the entrance to the University of Texas at Dallas (UTD) in Richardson. Registration is 8:30-9:30 am. Parking is available at the adjacent UTD parking lot. The walk-a-Thon is 5 miles through the residential neighborhood around UTD. RAIH will have stations along the route stocked the bottled water, fruit and energy bars, and a t-shirt at completion. Your participation achieve three goals: raises money for a very worthwhile purpose, helps the chapter make its’ community service points, and helps you fulfill that New Years’ resolution to get more exercise. The link below gives more details about the mission of Habitat for Humanity. http://www.dallasareahabitat.org/web/guest/home. A recent article in the Wall Street Journal discusses the impact of the rising cost of land on the operation of Habitat. http://www.wsj.com/articles/habitat-for-humanity-retools-gameplan-1418164114?KEYWORDS=habitat+for+humanity Signup details and donation forms are available on the Chapter website. Sign up at http://www.signupgenius.com/ go/4090b4faeac2e5-dallas1 Pay registration fee: $15 per walker at http:// www.dallasima.com/thankyou_pay_WalkAThon.htm Print off a Habitat Sponsor Form available at http:// www.dallasima.com/events.htm Signup people to sponsor you / or just make a donation to Habitat. Donate at http://www.dallasima.com/ thankyou_pay_WalkAThon.htm Location: 1135 West Lookout Drive, Richardson, TX 75080 (House across from the UTD entrance) Contact us for more information about our services and products Dallas Fort Worth Area IMA Chapter PO Box 612084 Dallas, Texas 75261 Visit us on the web at http://www.dallasima.com/ IMA Chapter Competition Standings – Stevenson Division (Chapters with 125+ members), 5/1/14 - 12/31/14 1) Minneapolis 2) Dubai – UAE 3) South Central Indiana 4) Detroit 5) Portland 6) Dallas Fort Worth Area
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