Skip to main content

Beymer is new chief audit officer; Cobine retires June 30

Stew Cobine. Stew Cobine.After more than 35 years, Indiana University Associate Vice President and Chief Audit Officer Stew Cobine will retire June 30.

Cobine has overseen IU’s internal audit operations since 2015, during which time the university’s internal audit process has become a highly collaborative partner to the campuses, schools and units it serves. Cobine has also served as IU’s associate vice president for finance, assistant university treasurer, and managing director of capital finance and tax management, as well as in several other roles in finance, accounting and tax.

After a national search, IU selected senior associate director of internal audit Lisa Beymer to become the next chief audit officer. Her tenure was effective June 1, overlapping Cobine’s to ensure a smooth transition.

Beymer is the first woman to serve in this capacity. The first director of internal audit was appointed in 1955.

Cobine was the project leader on several “firsts” for the university, including IU’s first variable rate bond issue, commercial paper program and single-purpose financing entity, the IU Building Corporation. The National Association of College and University Business Officers awarded Cobine the organization’s first Tax Award to recognize “outstanding commitment to the higher education tax community through NACUBO’s advocacy efforts and educational programs focusing on federal tax compliance and administration.”

His efforts, along with that of many colleagues in IU’s treasury, controller and general counsel’s offices, resulted in over $100 million of tax and bond interest savings for the university and students over the past 25 years. Cobine also led teams that arranged for over $1 billion in project financing for academic, research, student housing, parking and athletic facilities on all of IU’s campuses.

Lisa Beymer. Lisa Beymer.

He served the higher education business officer community as a past president of the Indiana Association of College and University Business Officers, chair of the NACUBO Taxation Council and co-chair of the Student FICA Coalition. He has been a frequent speaker for NACUBO and the Treasury Institute for Higher Education. He co-founded and directed the Tax Institute for Colleges and Universities, with professor Lawrence A. Jegen III.

Cobine holds a B.S. degree from the Kelley School of Business, an M.A in religion from Cincinnati Christian University and is a CPA. He and wife, Sandi, live in Eastern Greene County.

Beymer brings more than 20 years of internal audit experience in both higher education and corporate organizations. This includes her five years at IU and nearly 15 years at the University of Michigan and Comcast audit departments.

She is a subject matter expert in clinical/medical department auditing, research and sponsored program auditing, and general internal controls, and is particularly passionate about data analytics. She has been a regular speaker on the importance of internal controls in helping organizations achieve their strategic objectives through IU’s Fiscal Officers Development Series and campus and school fiscal officer meetings.

Beymer is a Certified Internal Auditor, Certified Information Systems Auditor and Certified Fraud Examiner. She holds an MBA from the Kelley School of Business and lives in Bloomington with her two children.