September Meeting
Thursday the 6th
Eddie Deen's Ranch
Meeting 12:00pm - 1:20pm
Registration begins at 11:30pm
Going beyond SOx compliance –
Internal Control Optimization
Phil Samson, Principal & Maanasa Jain, Senior Manager
PricewaterhouseCoopers
Internal controls optimization is a process of continuous improvement in controls that extends beyond financial reporting controls. As most organizations are mature in terms of Sarbanes-Oxley compliance, management and compliance groups are now looking to understand if controls can actually result in tangible benefits both in terms of decreased costs and/or increased efficiencies. While Auditing Standard 5 (AS5) provides insight into company's controls structures and provides opportunity for improvement, without a sound methodology, it becomes difficult to glean the benefits. Each organization is unique, therefore controls optimization means something different to each.
Phil and Maanasa will share PricewaterhouseCoopers' point of view on controls optimization. They will share with you various drivers, potential business benefits and a high level approach that companies can consider. They will also discuss how Internal Audit and similar compliance functions can be strategic enablers of such a value added initiative within the company.
 Phil Samson is a Dallas-based Principal in the Systems and Process Assurance practice of PricewaterhouseCoopers. He has 22 years of auditing, consulting and IT experience in public accounting and industry. In his 18 years with PricewaterhouseCoopers he has lead projects to assess and/or implement IT and operational control environments as part of financial audits, internal audits, Sarbanes-Oxley 404 readiness / redesigns, and SAS 70 third party reviews. Phil's supports clients in the Retail & Consumer, Healthcare, Technology, and Financial Services industry sectors. Phil has a B.B.A. in Business Analysis and Research from Texas A&M University.
 Maanasa Jain is a Dallas-based Senior Manager in the Systems and Process Assurance practice of PricewaterhouseCoopers. She has over 11 years of combined experience in auditing and consulting within the business process and information technology fields. For the past four years, Maanasa has been focused on Sarbanes-Oxley compliance efforts, both from an external audit perspective as well as serving in an advisory capacity for non-audit clients. She has led engagements to assist clients with Sarbanes readiness for multi-billion dollar companies. Maanasa has also assisted clients though major business changes including business process and IT controls redesign for several high-technology, retail and consumer products companies. Most recently, Maanasa has been speaking to several companies in the marketplace regarding AS5 and its impact on their organizations. She is one of the local market leads for internal controls optimization. She has a B.B.A. in Management Information Systems from Texas A&M University. She is also a Certified Information Systems Auditor (CISA).
1 Hour Continuing Education
Make your Reservation On line!
Pre-Meeting 10:30am - 11:30am
Auditing Standard 5 – Effective and Efficient SOx
Compliance
Christopher Williams, Partner and Colby Ton, Senior Manager
PricewaterhouseCoopers
Most companies have likely initiated the process of evaluating Auditing Standard No. 5, An Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements (AS 5). The goal of AS5 and the SEC interpretive guidance for management is on improving the effectiveness and efficiency of the assessments performed by company's management and its external auditor. PricewaterhouseCoopers works closely with its clients to address the short-term and long-term impact AS5 has both on client Internal Audit/Compliance functions and management within the company.
Chris and Colby will share PricewaterhouseCoopers' perspectives on AS5 and the impact it has had on organizations. Their discussion will be centered on enabling a more effective and efficient audit as well as the opportunities AS5 provides to move towards controls optimization.
 Chris Williams is a Dallas-based Partner in the Systems and Process Assurance practice of PricewaterhouseCoopers. He serves clients primarily in the consumer and industrial products industry. He has more than 14 years of combined experience in auditing and consulting related to business process and information technology controls. He has a B.B.A. in Accounting from Stephen F. Austin State University and is a licensed Certified Public Accountant (CPA) in the State of Texas. Chris has served on a team Systems and Process Assurance PwC professionals to lead the update of the PwC audit methodology relating to information technology risks and controls. He has also appeared as a speaker or a panel member on a variety of topics including Fraud, Sarbanes-Oxley Compliance, and IT Controls for such organizations as Information Systems Audit and Control Association (ISACA), the Institute of Internal Auditors (IIA) and the Texas Society of Certified Public Accountants (TSCPA). His experience and knowledge includes evaluation of risk assessments, reviews of automated business process controls and their linkage to information technology controls, process walkthroughs and controls evaluation using the PCAOB guidelines.
 Colby Ton is a Dallas-based Senior Manager in the Systems and Process Assurance practice of PricewaterhouseCoopers. Colby has 10 years of combined experience providing companies with IT, financial, and operational auditing and consulting services. Colby’s primary responsibilities have included leading Sarbanes-Oxley Section 404 readiness and optimization assessments, as well as external audits for national and international clients. Colby spent 19 months on a secondment in Europe where he was assisting PwC clients in Sweden, Norway, Switzerland and Italy with the development and implementation of efficient and effective key controls in both the IT and business process domains. He is one of the local market leads for internal controls optimization.
Colby is a practicing Certified Information Systems Auditor (CISA) and a member of the Information Systems Audit and Control Association (ISACA) and the Institute of Internal Auditors (IIA). He has been a key speaker on internal controls at the ISACA Chapter in Stockholm, Sweden. He graduated with a B.S. in Management Information Systems, and a B.S. in Accounting from Louisiana State University.
1 Hour Continuing Education
Make your Reservation On line!
Post-Meeting 1:30pm - 2:30pm
Sarbanes-Oxley Compliance in 2007
Panel
Kirk Tryon, Manager - Texas Instruments, Inc.
William Hibbitt, retired Partner - KPMG
Danny Goldberg,Director - Tyler Technologies
John Trampe, EVP - Countrywide Financial Corporation
This year the PCAOB and the SEC have both issued significant guidance for publicly traded companies governed by the Sarbanes-Oxley Act of 2002. Many companies have evolved their Sarbanes-Oxley compliance processes over the years since it was first made effective in 2004. A panel made up of members of a variety of companies will be sharing how their companies are currently structured to ensure compliance with Sarbanes-Oxley section 404. They will also talk about how this process has changed since the early days of year one (2004 for accelerated filers) and the various lessons they have learned along the journey.
Kirk Tryon is a manager in Texas Instrument’s internal audit department. Most of Kirk’s career has been spent working in the Asia Pacific region. Kirk joined TI in 1991 as an internal auditor. His initial responsibilities were to conduct internal audits for TI Japan. Kirk became an audit manager in 1995 with responsibility for auditing TI’s businesses in the US, Canada, and Latin America. In 1999, Kirk was named audit manager for TI’s Japan and Asia regions and led a team of auditors from Taipei, Taiwan, and later, Shanghai, China. Currently, Kirk is an audit manager for TI’s Japan region and in the US for TI’s semiconductor business and other corporate functions. Kirk is also a member of TI’s Sarbanes-Oxley 404 compliance team, which is tasked with leading TI’s internal control testing processes. Prior to joining TI, Kirk worked for the Auditor General’s Office for the State of Arizona. Kirk graduated from Arizona State University in 1988, and is a licensed CPA in Arizona.
William "Bill" J. Hibbitt retired as an active partner in KPMG LLP in February 2006. During his 30+ year career with the firm, he served in various capacities, including Vice-Chairman of tax operations for KPMG’s U.S. tax practice and national partner in charge of expatriate services. Mr. Hibbitt a licensed CPA in New York and Texas and is a graduate of The University of Louisville, The University of Louisville School of Law and New York University School of Law. Mr. Hibbitt served on the Audit Committee of the Triad board of directors.
Danny Goldberg, CPA, CCSA is currently the Director of Internal Audit at Tyler Technologies in Dallas. Mr. Goldberg started the internal audit department at Tyler and also assisted in the establishment of the SOX compliance department at Tenet Healthcare. Danny began his career at Arthur Anderson and is a graduate (BS – Accounting, 1997, MS – Finance, 1998) of Texas A&M University. Mr. Goldberg serves on the board of directors of a non-profit organization and is a member of the American Institute of Certified Public Accountants, the IIA, Information Systems Audit and Control Association and the Texas Society of CPA's. Mr. Goldberg’s article, “The SOFT Approach to Auditing” appears in the August 2007 issue of the Internal Auditor and discusses the positive affects AS 5 can have on internal auditors.
John Trampe joined Countrywide in 2006 and leads the Retail Production Audit group. Before joining Countrywide, John was a Director with PricewaterhouseCoopers in the Advisory Practice, specializing in Internal Audit Services. Before PwC, John was a Senior Vice President for Bank of America (NationsBank) in internal audit, risk management and on acquisition teams. John was also in public accounting with legacy Price Waterhouse and Ernst and Young, serving as a financial services industry specialist. John is a CPA, a CIA, and past president of the Dallas Chapter of the IIA. He graduated from the University of Notre Dame with a BBA in Accounting.
1 Hour Continuing Education
Make your Reservation On line!
 This meeting is being held at at
Eddie Deen’s – The Ranch
944 South Lamar
Dallas, Texas 75202
888-535-DEEN (3336)
214-741-4211
Eddie Deen’s Ranch is located behind the Convention Center in
Downtown Dallas at the corner of South Lamar and Canton. Please
find the website at
http://www.eddiedeen.com/the_ranch.asp
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