Information Systems Audit and Control Association Inc

“Information Systems Audit and Control Association (ISACA) targets two goals with its activities: increasing both the credibility and the capability of its constituents. The association achieves those activities by providing information, standards, publications and academic guidance (in addition to the items noted in the descriptions of program achievements 1, 2 and 3). The ISACA Journal is ISACA's official magazine. Issued bimonthly, and supported in the off months by online articles, the Journal seeks to enhance the proficiency and competitive advantage of its international readership by providing peer-reviewed managerial and technical guidance from experienced global authors. It is available in digital format on the web site and via mobile app as well. Other regular periodicals issued by ISACA include @ISACA, a biweekly electronic newsletter dedicated to ISACA news; ExpressLine, published monthly and providing chapter leaders information and resources to help them carry out their responsibilities; and COBIT Focus, issued quarterly to COBIT users, to provide them case studies, information on new products and educational opportunities, and general tips and techniques. The ISACA Bookstore offers a selection of peer-reviewed publications on professional topics of interest to ISACA members, at discounted prices. New selections are added regularly, to ensure the catalog remains current with changing trends and member needs. In 2013, 32 books were added to the Bookstore roster, and several volumes were added in a variety of non-English languages. Among those publications were ISACA's own research publications and certification study aids. The total number of publications in the Bookstore at the end of 2013 was 547. ISACA dedicates considerable attention to universities (professors, students and curricula), recognizing that they hold the future of the profession. The number of academic advocates (professors) increased by 23 percent from 2012 to 2013 and the number of students topped 1,700. ISACA issues Information Systems Auditing Standards, Guidelines and Procedures, which provide prescriptive or suggested guidance on how audits should be undertaken. The standards, guidelines and procedures are continually reviewed to ensure that new ones are developed or existing ones are revised as needed to align with new regulations or technologies. ISACA issued 17 IS audit and assurance standards effective 1 November 2013 and included them in the association's IT Assurance Framework, 2nd Edition. Guidance is grouped into the areas of General, Performance and Reporting. The previous 16 standards were withdrawn. Eighteen supporting guidelines were issued for public exposure and comment, a process that closed at year-end. The feedback is being addressed and the final versions are scheduled to be issued in the third quarter of 2014.”

“Information Systems Audit and Control Association (ISACA) maintains a membership of individuals; there is no corporate membership category. Anyone interested in the purposes and objectives of the association is eligible for membership. The vast majority of ISACA members also belong to a local chapter (membership in ISACA is required for anyone holding membership in a chapter). A member-at-large category exists for individuals who wish to join ISACA but who live at such a distance from a local chapter that attendance at meetings is prohibitive. Student and retired member categories are offered as well. ISACA's membership is characterized by diversity. The constituents live and work in more than 180 countries and run the gamut of job titles, including information system auditor, consultant, educator, information security manager, regulator, chief information officer, internal and external auditor, compliance officer, risk manager and student. Some are new to the field, while others are at middle management levels or senior ranks. They work in finance and banking, public accounting, hospitality, healthcare, government and the public sector, utilities, manufacturing, and retail. ISACA members embrace this diversity as providing a vast learning ground where they may delve into the challenges and opportunities faced by colleagues in other countries, positions or industries. ISACA recognizes that its members constitute an extensive and varied pool of expertise, expertise the association counts on to help provide services and products that engender credibility and capability in its constituents. The more members, the more expertise; the more expertise, the better the ability to meet constituent needs. ISACA's members are its most valuable asset.”

“Information Systems Audit and Control Association (ISACA) has a Nominating Committee that prepares a slate of officers (international president and vice presidents) for member review. Members may submit the names of additional candidates by way of petition prior to 120 days before the Annual Meeting of the Membership. The petition must be signed by one-twentieth of 1 percent of the members in good standing, equaling a minimum of 100 members, no more than 20 of which may be from any one chapter. If members propose additional candidates or if the Nominating Committee itself proposes more candidates than there are openings on the Board of Directors, an election is held. If an election is held, the election is conducted by mail ballot. Only those ballots received 20 or more days prior to the Annual Meeting are counted. Results of the election are certified by an independent professional group and announced at the Annual Meeting. If no additional candidates are proposed by the members, or the Nominating Committee's slate presents a number of candidates which does not exceed the number of openings available, the committee's slate is considered elected by acclamation.”

“Whereas not all decisions of the Board of Directors are subject to review and approval by the membership, certain ones are. Each year, at the Annual Meeting of the Membership, the following items are presented to the members in attendance for approval: - Highlights of decisions made by the board over the previous year - The previous Annual Meeting's minutes - The treasurer's report - Appointment of the association's independent auditors for the following year In addition, if the Board of Directors has made any revisions to the Articles of Incorporation or Bylaws, those revisions must be presented at the Annual Meeting or by written ballot to the members respectively for ratification. The revisions take effect only after member ratification is attained.”

“The 2013 Form 990 for Information Systems Audit and Control Association (ISACA) was prepared by Grant Thornton LLP (Grant Thornton), based upon information provided by ISACA. This document summarizes the review points and availability associated with the returns. The data for the return was compiled based on information prepared for the 2013 audit, as well as other accounting records. This information was submitted to Grant Thornton for preparation of the returns. In addition to the financial information Grant Thornton received, Grant Thornton had an opportunity to raise questions about governance and other issues, and request additional information as needed. The narrative explanations of program accomplishments and policies were coordinated with the ISACA Chief Communications Officer and appropriate Chiefs or Directors of the organization. Upon completion of the return, several layers of review were conducted: - Initial reviews of return: The initial review of the completed return was completed by the CFO and respective staff within the finance department. - Senior management review: Following the initial review, the Acting CEO, Chiefs, and Directors were provided a copy of the return for comment. The Acting CEO and Chief Human Resources and Administration Officer also provided an additional review of the compensation-related areas. Comments were forwarded to Grant Thornton for incorporation into the return. - Volunteer review: The Compensation Committee was delegated the review of the compensation-related sections of the return (as outlined in its charter). A detailed review of the Form 990 compensation data and the applicable supporting documentation was completed by an independent external accounting firm. The conclusions of the review were provided to the Compensation Committee as part of its review of the related disclosures pertaining to compensation. -- The organization's Governance Advisory Council (GAC) chair reviewed the remainder of the return. The International President was also provided the opportunity to review the return at this time. -- Comments from these reviews were evaluated and provided to Grant Thornton, which updated the return, if applicable. -- The Board of Directors was provided access to the return via the board portal (web site) prior to its filing.”

“Information Systems Audit and Control Association (ISACA) has a formal written conflict of interest policy addressing instances where a third-party relationship of a paid consultant, volunteer and/or employee could in some way potentially present or appear to present a compromise related to actions and decisions made on behalf of ISACA. The policy allows for remedies and/or appropriate responses based on a joint determination by ISACA management and volunteer leadership of the nature and extent of the potential conflict. The conflict of interest policy is reviewed on a periodic basis by the Governance Advisory Council (GAC) and approved by the ISACA Board of Directors. Potential conflicts of interest are documented and monitored each year, through (1) self-proclamations made by individual volunteers who sign the participation agreements required for participation in association boards, committees, subcommittees and task forces; (2) disclosure of conflicts in standard consulting agreements; and (3) disclosure by ISACA employees upon hire (and annually) by review and signature of the organization's employee agreement. Consultants, volunteers and employees are encouraged to report any conflicts that may arise throughout the year. If such instances are reported, they are dealt with at that time and based on the circumstances relating to the potential conflict.”

“The compensation philosophy of Information Systems Audit and Control Association (ISACA), which is affirmed by the Board of Directors, is to provide competitive compensation and benefits coverage in support of the goals and objectives of the organization. The compensation philosophy is supported by the use of an independent compensation consulting firm and the establishment of a compensation committee composed of independent members of the Board of Directors (current and two immediate past international presidents). Based on the compensation philosophy, the compensation range for the CEO is developed by the compensation consultant and reported to the committee. Compensation ranges are also developed by the consultant for the executive management team with compensation variances to the ranges provided to the committee. Ranges are calculated based on position responsibilities and a compilation of published compensation surveys for defined comparative groups representative of ISACA. In addition, available data from filed IRS Form 990s may be used to supplement the survey data utilized by the compensation committee. The final report of the compensation consultant as accepted by the committee, the compensation philosophy, and contract (if applicable) then serve as the basis for the determination of compensation, consisting of base salary, total cash compensation and benefits. Determination for executive management is made by the CEO based upon the accepted compensation ranges. Determination for the CEO is made by the compensation committee itself. This process is completed on an annual basis, gathering the information necessary to evaluate the market competitiveness of ISACA's compensation; provide data on executive compensation from a control and governance standpoint; and facilitate ISACA's ability to attract, retain and motivate quality staff, accomplish organizational objectives and provide value to its constituents, which ISACA considers critically important to its future.”

“The following documents are posted to the web site and provided upon request: (1) Participation agreement and intellectual property (IP) waiver, which outlines the conflict of interest policy and intellectual property ownership issues and is required to be signed by all volunteers; (2) the Articles of Incorporation and Bylaws of the organization; and (3) the annual report. Information Systems Audit and Control Association (ISACA) does not have a Form 1023, but it does provide the IRS Letter of Determination, upon request. In addition, Form 990 is publicly available through Guidestar's web site and the Illinois Attorney General's web site.”

“Certification Exam Development and Administration 2,756,910 Headquarters Administration 874,272 Media/Public Relations 707,176 Research Development 400,810 Education Outside Services 382,063 COBIT Development 281,626 Recruiting 275,553 Temporary Staff Services 223,701 Member Services 134,776 Journal Publishing 36,905 ----------- Total 6,073,792”

“Unrealized gains/losses 2,373,571 ----------- total 2,373,571”