Investment Training and Consulting Institute, Inc.

Emerging Issues in Investments and Derivatives

Austin, TX: September 14-16, 2016

Day 1* & 2: 8:00 am – 4:30 pm

Day 3: 8:00 am – 12:00 pm

20 CPE

*Note – Registration begins at 7:30 am on the first day of class.


CIDA Referral Program – Special Discount!
If you refer a new CIDA candidate to the program and they sign up for the exam, you will receive a 25 percent discount off the Emerging Issues in Investments and Derivatives course registration fees. If they register for the exam and the CIDA Review course, your discount on Emerging Issues registration fees goes up to a 50 percent discount


This course is dedicated to new developments in the investments and derivatives world and the challenges for auditors that results. With all of the risk inherent in this highly complicated area, it is critical to stay on top of the new developments, new risks, new structures, new technology and new regulations. This class will cover all of the “news” that auditors should be concerns about. This is a class you can’t afford to miss if your continued or new responsibility is auditing the investment and derivative areas within your company.


  • Our very popular “What’s Up?” session will keep you apprised of the latest market happenings and how they can affect risk and our role as auditors. Topics for this session may evolve based on material investment and derivative events making news in the coming months but the agenda is currently tapped to include subjects such as:
    • Study of new investment and derivative strategies in the market that may appear in your organization’s portfolio and what added risk they may introduce.
    • Review of email and social media monitoring leading practices especially relevant to investment and derivative shops.
    • Update on derivatives and capital market reform and other regulatory changes impacting the investment and derivative markets.
    • Discussion of the possible causes of the August 2015 ‘flash crash’ and the changes we have seen to market operations as a result.
    • Update on Private Equity fee transparency and the use of standardized disclosures.
    • Review the recent insider trading cases and discuss the key controls needed to avert this fraudulent activity.
  • Britt Harris, Chief Investment Officer for the $127 billion Teacher Retirement System of Texas (TRS) pension fund, will be joining us. Mr. Harris has been one of the most respected Chief Investment Officers in the Investment Management business for many years. He will bring to our Emerging Issues class a wealth of market knowledge and discuss how he led the restructuring of the TRS funds to successfully navigate through some of the toughest market conditions we have experienced in the last decade.
  • The oil market seems to have been on a wild ride including slips, slides and rallies over the last few years. An industry expert will provide an overview of the oil market in its current form and emerging risks to keep on your radar. Oil prices, both supply and demand, not only impacts the energy sector but has been one of the biggest stressors of late on the broader economy.
  • Enterprise Risk Management, when meaningfully layered into an organization, can play an important role in understanding organizational risk and ensuring controls mitigate the consequences of unacceptable risk. We will discuss ERM and risk assessment in the investment and derivatives areas, focusing on what works, what does not, and Internal Audit’s role in the process.
  • The CBOE Volatility index (the VIX), is commonly referred to as the ‘fear index’. This market index has received a lot of attention this year due to volatile market conditions. This session will review volatility indicators, like the VIX, and the impact they can have on different asset sectors, how portfolio management teams should be monitoring these metrics and when Internal Audit should ask questions so your portfolio can weather the storm.
  • External vendors and service providers play an important role in investment and derivative functions, often performing many critical operational controls. This year we will review vendor management in these areas and how to audit such outsourcing arrangements.
  • Cybersecurity made the list of the SEC’s examination priorities again this year. Protecting investment and derivative information and operations from threats related to cybersecurity and data loss should be incorporated into your audit plan of these areas. We will discuss how to incorporate everything from cybersecurity governance to access controls, data loss prevention and other critical organizational controls.
  • Our favorite economist, Andres Vinelli, from the PCAOB will be back to review the past, present and future of the global markets. Andres will highlight domestic issues including Fed policy, the direction of the dollar, the inflation factor and the impact of the upcoming election. In addition, this session will discuss international issues including the status of the EU (post the Brexit decision), Asian markets, and possible trouble brewing in some emerging markets including Venezuela and Brazil. As always, Andres will be sure to share his perspective on the short and long-term economic outlook.
  • For our Round Table session, we will request participants to submit topics of interest to be discussed by the group. Are there market and/or investment topics you’re struggling to audit? Curious how other companies approach certain risks or processes? What market events, cases or regulatory updates spark your interest? Submit your questions for a healthy discussion around what your inquiring minds want to know!

  • Course Duration: 2.5 day(s)
    CPE Hours Available: 20
    Knowledge Level: Intermediate
    Field of Study: Auditing, Accounting, Specialized Knowledge & Applications
    Prerequisites: ​General Knowledge of Audit & Investments
    Advance Preparation: None
    Delivery Format: Group-Live