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August 2004

President's Letter

It’s Summer Time, So Put On Your SOX and Shoes and Have A Good Time

Welcome to the New Year for the Dallas IIA. Yep the new IIA year is upon us and we are making a few changes this year. First off we are having a Summer Meeting on August 12, 2004 at the University of Texas At Dallas, which houses one of our locally endorsed Internal Audit programs. We are very fortunate to have Jim DeLoach and Scott Graham of Protiviti join us again to present - Section 302 and 404 Compliance - Now and Going Forward. Jim and Scott will give us an update on where companies are heading and should be heading in their SOX efforts. In addition we will have a post meeting panel that will be there to answer your SOX questions.

That’s right, I mentioned a change in this year. And who says Auditors are creatures of habit? A few things will be different about our Chapter year this year:

  • Because of the Regional Conference, we will not be offering any seminars in the fall months. The Regional Conference, at the Downtown Dallas Westin City Centre Hotel at the Plaza of the Americas from September 12-15 will be your best bet at obtaining both valuable and cost effective training and CIA Review preparation. To register for the conference go to www.iiadallas2004.org.
  • In December we will be having a chapter social. Although there will be a chance to earn CPE credits, it will also be geared towards celebrating the holiday season with your fellow professionals. More details to follow as the fall chapter months unfold. All of the Chapter Officers and Committee Chairs and Members are working hard to continue the excellent tradition the Dallas Chapter has developed of providing valuable services to you, the members. I look forward to a great year.

Sincerely,
Jeffrey E. Seutter
Dallas IIA 2004-05 President

Next Meeting

Thursday, August 12, 2004
University of Texas at Dallas Campus
Conference Center

Meeting 12:00pm - 1:20pm
Registration begins at 11:30pm
Conference Center Room 1.206/1.212

Section 302 and 404 Compliance -
Now and Going Forward

James W. DeLoach, Jr. &
Scott Graham, Managing Directors,
Protiviti

Scott Graham and Jim DeLoach are leaders in the Sarbanes Oxley compliance efforts for Protiviti. They will be presenting real issues companies are facing as it relates to section 302 and 404 compliance. Their presentation will focus on lessons learned from year one and how companies will approach compliance in year two and going forward. They will also discuss best practices in complying with section 302 and 404. They will discuss observations on the new dynamics affecting audit committees, management, internal auditors and external auditors. Finally, the discussion will include questions that companies should consider as they move forward with their 302 and 404 compliance.

Jim DeLoachJim DeLoach has provided advice and counsel to clients for over 33 years. He is Protiviti’s leader in developing the firm’s market offerings of governance services (including SOA compliance), enterprise-wide risk management and other intellectual property. He chairs Protiviti’s Corporate Governance Committee, which meets weekly to discuss new and emerging issues. He also chairs Protiviti’s SOA PMO Task Force, which is responsible for the quality, consistency and growth of the firm’s initiatives to serve clients and go-to-market with respect to SOA offerings across its operations.

Jim is co-author of Managing Business Risk: An Integrated Approach, published by The Economist Intelligence Unit in 1995, and of numerous articles covering various aspects of business risk assessment and management. Mr. DeLoach’s latest book, Enterprise-wide Risk Management: Strategies for Linking Risk and Opportunity, was published by Financial Times in June 2000 and was the first book written on the subject of enterprise-wide risk management. He has delivered numerous presentations on governance and risk management matters to many companies and groups in 26 countries on every inhabitable continent. He writes The Bulletin, Protiviti’s publication on governance-related issues, and recently wrote Frequently Asked Questions Regarding the Sarbanes-Oxley Act Executive Certification Requirements and both editions of Guide to the Sarbanes-Oxley Act: Internal Control Reporting Requirements. He has written Managing Risk to Create and Protect Enterprise Value, which will be published this fall.

Scott GrahamScott Graham is a Managing Director of Protiviti and leads the Dallas office internal audit and governance practice. Scott is a member of Protiviti’s Corporate Governance Competency Team, serving as a Sarbanes-Oxley subject matter expert on multiple Section 404 engagements.

Prior to joining Protiviti in May 2002 at its inception, he spent seventeen years with Andersen serving as a partner for clients in two offices - Salt Lake City, Utah and San Jose, California. During his 8+ years in San Jose, he was instrumental in establishing the premier internal audit outsourcing practice in the Bay Area among the Big 5. Scott is focused on helping clients manage risk through internal audit assistance, and is currently working on a number of Sarbanes-Oxley engagements. During Scott’s first 10 years with Andersen, he performed financial statement audits, including working closely with large SEC registrants. He has supervised and/or performed audit work for clients in over 20 countries in Europe, Asia and Latin America.
 


Pre-Meeting 10:30am - 11:30am
Conference Center Room 1.112

SOX Gaps, Remediation and Retesting

Julie Winger, Deloitte & Touche LLP

What do you do when you find a gap? We will talk about appropriate capturing and reporting of deficiencies identified, remediation timeframes and retesting. Discussion will also include thoughts on what needs to be reported internally about deficiencies and remediation activities, what should be reported to the external auditor and what must be disclosed publicly.

Julie Winger is a Senior Manager in Audit and Enterprise Risk Services at Deloitte & Touche LLP in Dallas. She has extensive experience as an auditor working primarily in the energy and manufacturing industries. She has led audits of large public companies and also assisted in due diligence activities associated with client acquisitions. For the past two years, Julie's focus has been on helping D&T and its clients prepare for the first implementation of Sarbanes-Oxley Section 404. She has written and presented on Sarbanes-Oxley Section 404 to both D&T personnel and their clients.


Post-Meeting 1:30pm - 2:30pm
Conference Center Room 1.112

SOX Q&A Panel with representatives from Industry,
Big Four and Consulting Firms

Scheduled to participate:

Scott Graham, Protiviti
Jim DeLoach, Protiviti
 Julie Winger, Deloitte & Touche LLP
Stacey Hamaker, Shamrock Technologies
Sherri Durst, 7-11


This meeting is being held at University of Texas at Dallas Campus Conference Center.

Map to UTD is at http://www.utdallas.edu/pdf/campusmap.pdf. Enter UTD through University Parkway entrance. Turn left on Drive A. Right on Drive H. There is visitor parking available behind the Conference Center next to Lot I.

Preferred Method:

The best method to place and confirm your reservation is via the web site at http://www.dallasiia.org/Reserve.htm.

Secondary Method:

An optional method is to use the telephone, fax, or e-mail. However, a $2 phone/fax/e-mail fee will be assessed to each reservation.

Contact:

Kari Reddick
Triad Hospitals
Phone: 214-473-3820
Fax: 866-855-0085 
kari.reddick@triadhospitals.com

Meeting / Luncheon Fees:

Dallas IIA Members: $25
Non-Members: $30
Students: $15
Walk-ins (members or non): $30
Phone/Fax/E-Mail Fee: $2

Reservations must be received by noon on Friday, August 6, 2004 or a $5 late fee will be charged.

We reserve the right to bill for "no-shows."

We Now Accept Credit Cards - Online Only

We accept most major Credit Cards

The IIA Dallas Chapter, in conjunction with PayPal, will now accept payment online for the monthly luncheons. There is no change in the cost to you for the lunch. We accept VISA, MasterCard, Discover, American Express, or eCheck. Note that some corporate-issued cards are not accepted by PayPal. This service is only available online at the time the reservation is made. This can be used to pay for individual or group reservations. Follow the instructions on our website. If you properly cancel a reservation before the meeting, the Chapter will either return the funds to you or reserve you for the next meeting. Any questions, contact Melinda Lokey at 214-473-3823 or melinda.lokey@triadhospitals.com.

After you place your reservation online, you will see the link to pay via PayPal if desired.

Chapter Seminars

Chapter News

Dallas Chapter Takes First Place in Donald E. Ricketts Award

In 1996, The Foundation named the chapter research award in the memory of Dr. Donald E. Ricketts. Ricketts had been a member of The IIA and The Research Foundation Board of Research Advisors since 1977. He had been the chairman of the Chapter Research and Doctoral Dissertation Committee since its inception. His leadership and support of the Chapter Research Program was instrumental in the ongoing success of the program.

Each year, The IIA sponsors a Chapter Research Competition and announces the winners at the International Conference. Each project is evaluated on (1) quality of work, (2) interest and practical value, (3) topic originality, and (4) basis for further research. The research must be started and completed during The Institute year to be eligible for this award. Chapters submitting projects will be awarded 20 CAP points. Please remember that March 31 is the deadline for the competition each year.

This year the Dallas Chapter took first place in the competition based which “Viewing Organizational Trust and Internal Auditing. Cynthia Claybrook surveyed executive management of public companies regarding their opinions about the dynamics of trust and how it impacts their organization. The paper can be obtained at the IIA website at http://www.theiia.org/iia/index.cfm?doc_id=502.

Cynthia Claybrook is a doctoral student in accounting at the University of Texas at Arlington. She has been a member of the Dallas Chapter for several years and was the chairman of both the Chapter Research Committee and the Academic Relations Committee for the 2003/2004 year. She is interested in several lines of research including: organizational trust, ethics, leadership and followership, and critical thinking. For the chapter research project, she did a study on organizational trust with a focus on executive management, and plans to survey the chapter membership this fall. Both of these pieces are parts of a larger body of planned research on accounting, auditing, organizational trust and Sarbanes Oxley, and her dissertation is an extension of the piece that won first place in the Donald E. Ricketts Chapter Research Award.


UTD Endorsed Internal Audit Program Ready for Exciting Year Two!

UTDWith the foundation of the EIAP last year the UTD program will move ahead with a number of new courses, a student chapter that is growing, and a number of events held at the school related to Internal Audit. The program is designed at the graduate level and encourages the participation of individuals making a switch of careers to Internal Audit. To find out more about the program see the newly designed website at som.utdallas.edu/eiap. More will be coming later on programs coming throughout the semester including a golf outing. If interested in the program or any of the newly designed courses , please contact Mark Salamasick at 972-883-4729 or mark.salamasick@utdallas.edu.


Report Your Speaking and Writing

It's time again for the survey to determine which IIA Dallas Chapter members have submitted articles or spoken since May. Each speaking engagement on internal auditing that a Dallas Chapter member completes will earn the Chapter 1 credit per CPD hour. Each full article, Roundtable article, Fraud Finding, etc. submitted that meets basic editorial guidelines will earn 5 credits. For each full article published 20 credits are earned. Each internal audit related article published in any other trade or professional journal that is authored by a chapter member is 5 credits.

To report your writing and speaking go to http://dallasiia.org/Speaking.htm and complete the provided form by August 15, 2004. Contact Magdalena Kovats (214-777-0581 or magdalena.kovats@resources-us.com) if you have any questions.

Career Opportunities


Ratliff Associates  (7/19/04)

Ratliff Associates

Ratliff Associates, a Dallas-based recruiting firm specializing in the recruitment of Financial and IT professionals, is representing a NATIONAL CPA AND CONSULTING FIRM that is expanding its team of Sarbanes Oxley Auditors based in Dallas, Texas. We are immediately recruiting the following INTERIM Senior Consultant Manager candidates:

SOX Senior Consultant Audit Managers
Job Description:

To lead or serve as a member of financial and IT audit teams assigned to perform internal controls audits for the firm’s clients. Engagement duration is a minimum of three months. Travel requirement is 0-50% depending upon the assigned client’s location.

Requirements:

  • Candidates MUST have held the title of “Auditor” or “Audit Manager” as only experienced auditors will be considered (Sarbanes Oxley, Internal Controls section 404 exposure strongly preferred)
  • Outstanding interpersonal skills and professionalism are a must
  • BS Degree in Accounting, Finance, CIS or related degree a must
  • CIA, CISA, ITIL, PMP or related certifications preferred
  • Supervisory experience a plus
  • Former Big Four or consulting experience a plus

Compensation:

  • Hourly compensation $45hr--$90hr depending upon past earnings history, ability to travel, experience and skill level

For consideration, please forward your resume to connierat@sbcglobal.net Since no relocation expenses will be provided, only local DFW candidates will be considered.


PrimeSource Building Products  (7/19/04)

CORPORATE AUDITOR

PrimeSource Building Products, Inc, a division of the Itochu Corporation and one of the nation’s largest wholesale distributors of building supply products, has an immediate opportunity for an Auditor in our Carrollton, Texas corporate office.

This position will establish an effective internal audit function for the Company and conduct periodic audits of operational and financial areas in accordance with approved annual audit plans. Although this position will review selected corporate functions, the focus will be the audit of our 38 Distribution Center operations – to help ensure operations at each location are consistently applied, are subject to the proper financial and operational controls and are conducted in accordance with senior management’s criteria.

Successful candidates will possess:

  • A degree in Accounting or Finance (CPA preferred).
  • Must have a minimum of 2+ years of public accounting experience (preferably with a Big “4” firm) and 1-2 years of industry experience as an internal auditor or other non-public accounting experience.
  • Control focused, but able to understand the “business side” of the Company.
  • Strong knowledge of internal controls, both financial and operational.
  • Self-starters with strong organizational and communication skills with the ability to effectively and confidentially interact with senior management.
  • Must be proficient in Word, Excel and Power Point.
  • Be available to travel 50%+.

If your work experience matches the above profile and you wish to join a company with excellent career opportunities, company benefits including matching 401K, competitive compensation packages and potential for personal growth, we want to meet you. Please send your confidential resume to:

Jerry Kegley, CFO
PrimeSource Building Products, Inc.
2115 E. Beltline Rd
Carrollton, TX 75006
kegleyj@primesourcebp.com


Grant Thornton LLP  (6/25/04)

Grant Thornton International is the world's leading accounting, tax and business advisory organization dedicated to mid-size companies. Through its network of 585 offices in 110 countries, including 50 offices in the US, partners of the member firms of Grant Thornton provide personal attention and seamless service delivery to public and private clients around the globe. Grant Thornton LLP's web site is www.GrantThornton.com.


Internal Audit Manager

Our Business Advisory Services (BAS) group, a specialty advisory practice within Assurance and Advisory Business Services, is a growing practice providing strategic solutions, operational performance improvement and assurance support to our clients. Grant Thornton seeks a team player with a strong work ethic and excellent professional skills for the role of Manager- Internal Audit Services. This professional will supervise and perform in accordance with the client's audit plan, risk management strategy and Grant Thornton's internal audit methodologies.

Responsibilities:

Maintain a strong client focus by effectively managing client needs and developing productive working relationships with client personnel. Stay abreast of current business and economic developments relevant to the client's business. Deliver high-quality client service by directing the daily progress of fieldwork and informing Managers of engagement status. Respect and protect confidential client information.

Display teamwork, integrity and leadership. Support colleagues and value others' contributions. Provide constructive on-the-job feedback and coaching.

Utilize technology and tools to continually learn and innovate, share knowledge with team members and enhance the delivery of services.

Develop potential business opportunities. Actively encourage team members to contribute ideas and identify potential business development opportunities to sell Grant Thornton's services.

Requirements:

  • a Bachelor's degree in Accounting, Finance or a business related field
  • 5-7 years minimum of related audit, business or financial experience
  • CPA a plus, CIA required
  • strong analytical, interpersonal and communication skills
  • demonstrated consistency in values, principles, and work ethic

Candidates must be available to travel 20-30% and work in excess of standard hours when necessary.

Interested candidate should submit a resume in confidence to TexasAuditCareers@gt.com or fax 214-561-2370. Job code: Texas IA Mgr

Grant Thornton LLP is an Equal Opportunity Employer


Senior Auditor

Our Business Risk Services (BRS) group, a specialty advisory practice within Assurance and Advisory Business Services, is a growing practice providing strategic solutions, operational performance improvement and assurance support to our clients. Grant Thornton seeks a team player with a strong work ethic and excellent professional skills for the role of Senior Auditor - Internal Audit Services. This professional will perform internal audit procedures under the direction of the internal audit management team and in accordance with the client's audit plan, risk management strategy and Grant Thornton's internal audit methodologies.

Responsibilities:

Maintain a strong client focus by effectively serving client needs and developing productive working relationships with client personnel.
Stay abreast of current business and economic developments relevant to the client's business.

Deliver high-quality client service by directing the daily progress of fieldwork and informing Managers of engagement status.

Respect and protect confidential client information.

Display teamwork, integrity and leadership.

Support colleagues and value others' contributions.

Provide constructive on-the-job feedback and coaching.

Utilize technology and tools to continually learn and innovate, share knowledge with team members and enhance the delivery of services.

Bring potential business opportunities to the internal audit management team's attention.

Actively encourage team members to contribute ideas and identify potential business development opportunities to sell Grant Thornton's services.

Requirements:

  • a Bachelor's degree in Accounting, Finance or a business-related field
  • 3-4 years minimum of related audit, business or financial experience
  • CPA, CIA or a desire to pursue applicable professional development and certification(s)
  • strong analytical, interpersonal and communication skills
  • demonstrated consistency in values, principles, and work ethic
  • Candidates must be available to travel 20-30% and work in excess of standard hours when necessary.

Contact Information:

Interested candidate should submit a resume in confidence to TexasAuditCareers@gt.com or fax 214-561-2370. Job code: Texas IA Senior

Grant Thornton LLP is an Equal Opportunity Employer


Senior IT Auditor

We are currently seeking an IT Auditor in our Technology Risk Management practice for our Houston location.

As companies become increasingly dependent on information technology to conduct daily business activities, so increases the need to control and secure their overall technology infrastructure. Grant Thornton's Technology Risk Management (TRM) services address these controls and security issues.

Responsibilities include:

  • Evaluate computer controls and related services, including SAS 70 reviews and IT internal audit assistance.
  • Assess an organization's current security posture and help to plan and develop more secure IT installations. Areas of expertise should include at least some of the following:
    1. Access control software
    2. Security architecture and administration
    3. Internet use (e.g., "firewalls")
    4. Network security awareness and enforcement
    5. Security policies and standards
    6. Operating systems (Windows NT/2000, UNIX, AS400, Novell)
  • Ensure that critical business requirements are addressed, beginning with a business impact analysis to determine the effect of an interruption.
  • Identify and promote opportunities to expand our clients and client prospects.
  • Manage Technology Risk Management engagements in a wide range of information technology risk related areas including security infrastructure assessments and reviews, network security and controls consulting, and business systems risk management.
  • Travel to client locations will also be required (minimum 35% travel)
  • Communication and consultation with senior management concerning opportunities to improve performance of technology within a corporate environment.

Job Requirements:

  • Bachelors degree required
  • CISSP or CISA certification a plus
  • Must have a minimum of 2 years experience in technology risk consulting, prior audit experience helpful, but not essential.
  • Experience in networking security tools and techniques, demonstrated knowledge of advanced IT concepts, IT-related processes and risks, information security controls, information system development methodologies and application-based controls.

Interested candidate should submit a resume in confidence to TexasAuditCareers@gt.com or fax 214-561-2370. Job code: Texas Senior IT Auditor

Grant Thornton LLP is an Equal Opportunity Employer


Exel Global Logistics  (6/16/04)

JOB OPPORTUNITY - AUDIT MANAGER - EXEL GLOBAL LOGISTICS

Primary purpose of the role [What is the value added by this role, the overall aim, the reason that this role is required]:

Audit Manager will be responsible for conducting process audits, financial control audits and independent assurance services to Exel businesses in the Americas, including obtaining management commitment to action.

Key Accountabilities [What are the main responsibilities of the role, against which performance is measured]:

Assist in completing audit assignments as dictated by the Audit Plan presented to and approved by the Audit Committee.

Assist in continuous improvement of International Audit processes and provision of risk training for clients.

Performance Indicators [What criteria will be used to assess performance]:

Delivery of audits within deadline and budget.

Quality of audit observations – must add value to internal clients.

For the audit report, high implementation rate of agreed actions by management

Quality and integrity of service provided to management: positive feedback from recipients

Sharing knowledge with other GAA team in the regional team: positive feedback from audit team

Process improvement: positive feedback from colleagues and clients.

Qualifications

  • 6-8 years of direct audit experience required.
  • CPA Preferred.
  • up to 50 - 75 % travel required.
  • $ 85,000 base salary.

Exel is the global leader in supply chain management, providing customer-focused solutions to a wide range of manufacturing, retail and consumer industries. Exel's comprehensive range of innovative logistics solutions encompasses the entire supply chain from design and consulting through freight forwarding, warehousing and distribution services to integrated information management and e-commerce support.

Exel, a UK listed, FTSE 100 company, with turnover of 5.1 billion (US$8.3 billion / €7.4 billion), employs over 74,000 people in 1,600 locations in more than 120 countries worldwide. Exel's customers include over 70% of the world's largest, quoted non-financial companies.

Please send resumes to exelrecruiter@exel.com
 


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Contact the webmaster@dallasiia.org

Dallas Chapter Institute of Internal Auditors
P. O. Box 261747, Plano, TX 75026-1747

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