Internal Auditing Academic Advancement Fund Inc

“The Organization's top management official and top financial official each review the Form 990 prior to its filing with the IRS. The Form 990 is also provided to the Organization's Board of Directors prior to its filing with the IRS.”

“The Organization's conflict of interest policy is distributed to each member of the Organization's governing body, its officers, and its key employees on an annual basis. Each such individual provides an annual disclosure statement indicating that they have received, read, understood, and agreed to comply with the policy, and certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statements with previously undisclosed conflicts of interest are forwarded to appropriate Organization officials to take appropriate actions as required by the policy.”

“The Organization provides, upon request, copies of its Articles of Incorporation, bylaws, conflict of interest policy, and financial statements.”

“In December, 2015, the Board of Directors of the Organization adopted a resolution to dissolve the Organization. In accordance with the Organization's Articles of Incorporation, the assets of the Organization will be transferred to the Institute of Internal Auditors - Reasearch Foundation, a related 501(c)(3) Organization. The Articles of Dissolution were filed with the State of Florida in January of 2016.”

“Other professional fees: Program service expenses 37,986. Management and general expenses 0. Fundraising expenses 0. Total expenses 37,986.”

“The Board of Directors of the Institute of Internal Auditors, Inc.(a related organization)or a committee thereof, assumes responsibility for the oversight of the audit of the Organization's financial statements and the selection of an independent accountant. This process has not changed from the prior year.”

“During the tax year, certain expenses related to the Organization's operations were paid by the Institute of Internal Auditor's Inc. ("IIA")and the Institute of Internal Auditor's - Research Foundation, Inc. ("IIARF"), related tax-exempt organizations. The Organization exists to support the IIA and IIARF by promoting the development of educational programs in internal auditing. The IIA paid approximately $94,000 and the IIARF paid approximately $61,000 of expenses in-kind related to the administration and management of the Organization's exempt activities which are not reflected in the statement of functional expenses for the period covered by this Form 990.”

“Subsequent to December 31, 2015, the Organization was dissolved. At the time of dissolution, all assets, liabilities, and net assets of the Organization were transferred to the Institute of Internal Auditors - Research Foundation, Inc., a related 501(c)(3) organization. The distributions were made in accordance with the Organization's governing instruments.”