eNews - September 2012

Thursday, September 6, 2012

Emerging Trends and Hot Topics

Meeting 12:30pm - 1:30pm
Lunch to start being served at 11:45
Registration begins at 11:30pm

Corporate Compliance Programs
Sam H. Carr, President of Morgan Garris Consulting, LLC

Objectives:  Introduce the concepts and origin of an effective Corporate Compliance Program, and provide a description of the infrastructure and accountability of individuals.

This session will provide a forum to discuss:

1. Why have a Corporate Compliance Program?
2. Origins of Corporate Compliance
3. US Federal Sentencing Guidelines
• Seven (7) Essential Elements
• Some revisions to the guidelines
4. Corporate Compliance Infrastructure
• Vital Positions
• Vital Functions
• The “Wrong” Structure
5. How does all this relate to Internal Audit?

No prerequisites required.

Sam H. Carr is President of Morgan Garris Consulting, LLC. Sam has over 25 years of experience in accounting, auditing, financial management and consulting. Sam has focused much of his career on process improvement and redesign. More specifically, his interests are focused upon the proper documentation of internal controls and validation of controls most important to accurate and timely financial reporting.

Sam is a finance and operations executive with broad-based experience that includes 12 years as a CFO or Chief Accounting Officer in mid-sized private and public corporations and fourteen years with an international public accounting firm. Sam orchestrated an Initial Public Offering of a consolidation of dental practices throughout the United States. In addition to his IPO experience, he owns a powerful track record of demonstrated skills in a wide range of business environments including designing financing, mergers and acquisitions and growth companies.

At Morgan Garris, Sam has managed several international implementations of the requirements under the Sarbanes-Oxley Act. These included the design of the documentation repositories and formats, validation protocols, as well as coordination with independent auditors to maximize reliance. He served as a lead consultant regarding remediation of issues related to the Foreign Corrupt Practices Act, including the development of internal control procedures well beyond the requirements of Sarbanes-Oxley.

Sam also serves as the engagement leader for the outsourced internal audit department of a public oilfield technology company. The outsourcing involved the creation of the internal audit plan, testing design and execution, and regular interaction with the audit committee and senior management.

Sam has an MBA from the University of New Mexico, a BBA in Accounting from the University of Texas at Austin. He is a CPA, CCEP, CIA, and CISA.

1 Hour Continuing Professional Education

Insurance Industry
Saumil Patel, VP of Internal Audit Torchmark

Objective: The objective of this brief presentation is to provide Insight into the best practices, organizational structure and types of audits performed by an Internal Audit department within the media industry.

No prerequisites required.

Saumil Patel joined McKinney Internal Audit in February, 2008 as a Senior Audit Manager; in March, 2009 he was promoted to Director of Internal Audit, in December, 2010 he was promoted to Vice President of Internal Audit.

Prior to joining Torchmark, he was a Financial Consultant with Jefferson Wells and FinOps Audit Manager and Director of Finance at St Paul Travelers. I worked on the FinOps team in Internal Audit and was responsible for Financial Reporting for 2 years in a span of over 10 years with Travelers.

Saumil holds a BBA in Advanced Accounting and Economics and a MS in Cost and Management Accounting from University of Mumbai, India, and is a CPA, certified in Connecticut.

No Continuing Professional Education provided.

Pre-Meeting 10:30am - 11:30am
Registration begins at 10:00am

Cloud Computing
Ganesh Ramaswamy, Director of IT Internal Audit at RealPage Inc

Objectives:  The purpose of this session is to share the results of the 2012 Don. E Ricketts award winning project by the Research Committee of the chapter. This topics covered includes: an introduction to cloud computing and the its impact on the risk profile of an organization, “Hype Curve” and perceptions of Internal Auditors as it relates to Cloud Computing, familiarity of Internal Auditors with this emerging risk, and strategies practitioners are using to assess and mitigate the risks.

The purpose of this session is to provide answers to the following questions:

• What is Cloud Computing?
• How does it impact the risk profile of an organization?
• How do Internal Auditors perceive the risk as compared to the IT professionals?
• What are the practices that Internal Audit professionals are currently using and what we can learn from the survey results?

No prerequisites required

Ganesh Ramaswamy has served as the Chairperson of the research committee of the Dallas Chapter for the past five years.He serves as Director of IT Internal Audit at RealPage Inc., a leading provider of on-demand (also referred to as "Software-as-a-Service" or "SaaS") products and services for the rental housing industry. Prior to working at RealPage, Ganesh was Manager at Deloitte and Touche LLP, where he focused on delivering information & process assurance and advisory services to clients in high-tech, healthcare, public sector and retail industry. He holds CIA, CISA, CISSP, and CISM certifications.

1 Hour Continuing Professional Education

Post-Meeting 1:30pm - 2:30pm

Mobile Device Security
SundaraRajan NarayanaSwamy, Manager, Ernst & Young

Objectives:  During this session we will discuss various aspects of Mobile Device Security program. By end of the session you should have some answers to:

• What is your perspective on mobile device assessments?
• How do you develop Mobile device security concepts?
• What are your risks?
• How do you diagnose your maturity?

No prerequisites required

SundaraRajan NarayanaSwamy is a Manager in Ernst & Young’s Advisory Services Center of Excellence (CoE) practice focusing on Information Security. He has over 20+ years of experience helping his enterprise customers. He has provided services in a wide range of industries including: technology, services, finance, manufacturing, healthcare, media & entertainment industries.

Currently providing business solutions for enterprise to secure and manage information systems and services on-premise and to/from/for the Cloud.

Sundar is one of the founding members and an active board member in Cloud Security Alliance, North Texas Chapter (2012). He is also a member in PMI, ISACA, ISSA, HITRUST communities.

1 Hour Continuing Professional Education

Meeting Location

Doubletree Hotel Dallas Near the Galleria
4099 Valley View Lane, Dallas 75244 ~ 972-385-9000

Preferred Method:

Place and confirm your reservation via the web site at http://www.dallasiia.org/Reserve_0912.htm.

Reservations & Payment must be received by 5:00 PM on Friday, August 31, 2012.

When: Monday October 29, 2012
Where: Hilton Anatole, Dallas
Value: No travel costs and less than $40 per CPE hour if you register now!
Actions needed:Take advantage of significant discounts and register now before rates increase!
Why: A great opportunity for audit executives, directors, managers, and staff to benefit from a day long educational event, comprised of 28 individual concurrent sessions. You will learn about the latest developments and trends, network with your peers, and gain additional skills and insights, and earn 8 hours of CPE from subject matter experts presenting multiple learning tracks.

The Dallas Super Conference will include interesting and informative general sessions presented by Richard Chambers, President and CEO of the IIA, Denny Beran, 2011-2012 Chairman of the Board, Institute of Internal Auditors (IIA) and a panel discussion on stakeholder expectations moderated by Dennis McCuistion, a former bank CEO, who also serves on board and audit committees for several public and private companies.

Benefit from 28 concurrent sessions including the following:

Chapter News

IIA Research Foundation

The IIA has published 10 Key Techniques to Improve Team Productivity. More is being asked of internal auditors than ever before. As a result, diligent efforts are needed to provide a workplace environment where individuals can achieve their full potential and, in the process, contribute to the successful execution of internal audit projects. An increasing body of knowledge is emerging regarding team dynamics. For internal auditors, who typically spend most of their time working on teams, this book serves as a useful reference guide to increasing team productivity and energizing performance.

The book can be ordered online at http://www.theiia.org/bookstore/product/10-key-techniques-to-improve-team-productivity-1581.cfm. (Item number 1088, IIA member price - $45.00, non-member price - $55.00). This product is also available as a download.

Center for Internal Auditing Excellence
Internal Audit Endowment Update

Thank you all for your support of the endowment for the Internal Audit program at UTD. With your donations along with the equal match from the Dean of the business school we have raised over $430,000. It was less than a year ago that we had the kickoff reception for the event for the endowment. The funds raised to date have come from many sources including the annual fraud conference, JCPenney, KBR, IAAAF, Southwest Airlines, Ernst & Young, Belo, A. H. Belo, Grant Thornton, Weaver, Deloitte, Automation Services, ACL, PriceWaterhouseCoopers, Crowe Horwath, Whitley Penn, McGladry, Teammate, along with many individual contributions. I want to say a special thank you to all of you as we move closer to our goal. Our goal is to be at over half a million dollars by the end of 2012.

We are in the middle of our fund raising and especially need your help towards corporate donations. Information about the endowment along with the ability to donate online is available at: http://jindal.utdallas.edu/centers-of-excellence/center-for-internal-auditing-excellence/endowment-campaign/

Due to this endowment along with sponsorships of the Fraud Conference over $40,000 of scholarships were awarded to internal audit students last year. If you have any questions about the endowment contact: Mark Salamasick at mark.salamasick@utdallas.edu or Denny Beran at Dberan7@gmail.com .

7th Annual Fraud Summit Recap

Due to the success of the recent Annual Fraud Summit held at UTD in March 2012,  your chapter was able to provide $65,000 to the Endowment for the Center of Internal Audit.

This was only possible due to the support and attendance of the Workshop and Sponsorships. Thank you to all that participated!

Membership News

The Dallas IIA Chapter would like to extend a warm welcome to our new members who joined the Chapter in July 2012:

CIA Programs

Ceremony to Honor New Certifications

This fall, the Dallas Chapter will honor those Dallas Chapter members who completed their certification examination requirements and took the exams in the 1st or 2nd quarters of 2012.  Honorees will be contacted via email on how to register.  Certificates have or will be mailed by The Institute of Internal Auditors. This includes those receiving the new Certification in Risk Management Assurance (CRMA).

Certification News from the IIA

• Certification in Risk Management Assurance:  The IIA has announced the closing of the Professional Experience Recognition (PER) period for the Certification in Risk Management Assurance™ (CRMA).  In North America (United States, Canada, and Caribbean): The PER period will close on Sept. 30, 2012. PER candidates must have applied and paid the application fee by this deadline. All qualifying documentation must be submitted by no later than Oct. 31, 2012.
  
•  Continuing Professional Education (CPE) Requirement and Reporting Reminder:  As a reminder, effective Jan. 1, 2012, Continuing Professional Education (CPE) reporting requirements and periods have changed. All certificates must report CPE by December 31st each year. The changes in the program enhance the reporting experience for certified individuals and align The IIA with industry best practices.  Learn more.
  
•  IIA Global Certifications Introduces Option to Extend Exam Eligibility:  The Professional Certifications Board (PCB) has approved a new policy that allows candidates to extend the normal 180-day exam eligibility window for a period of 30 days one time for a US $50 fee. This new option allows today’s busy internal audit professionals to stay on course while enhancing their professional development. Interested candidates must log into CCMS to complete the appropriate exam registration eligibility extension form.

CIA Review Course

The Dallas Chapter will not be providing CIA Review Courses for 2012/2013.  If you prefer lecture based training, the IIA Southern Regional Conference, being held in Austin, TX on September 16-19, 2012, will be hosting a CIA and CGAP review course.  See https://na.theiia.org/training/conferences/src/Pages/2012-Southern-Regional-Conference.aspx for further details.

Frequently Asked Questions

New or Updated Practice Guides released by the IIA

The IIA has released several new IPPF practice guides. They provide detailed guidance for conducting internal audit activities — processes and procedures, tools and techniques, programs, step-by-step approaches, and examples of deliverables. If you are a member of the IIA, you can download them now for free by clicking on the following links:

NEW! Assessing Organizational Governance in the Private Sector, July 2012
​NEW! Developing the Internal Audit Strategic Plan, July 2012
​NEW! GTAG 17: Auditing IT Governance, July 2012
​NEW! Auditing Privacy Risks, 2nd Edition, July 2012 (replaces GTAG 5)
​NEW! Integrated Auditing, July 2012
​NEW! Evaluating Ethics-related Programs and Activities, June 2012
​NEW EDITION! GTAG 7: Information Technology Outsourcing, 2nd Edition, June 2012.

Report Your Speaking and Writing

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 online form.  If you have any questions, please contact Corinne Bryan at CAP@dallasiia.org.

Employment Opportunities

Eagle Materials, Inc.  (7/31/12)

Internal Audit Department
Senior Internal Auditor

Position Summary:
A candidate will be hired as an experienced Senior Internal Auditor who will assist the Manager and Director of Internal Audit in performing SOX, financial, operational and IT audits throughout the company as part of the fiscal audit plan. 

Candidate must demonstrate a confident and well-developed communication style, both oral and written, that establishes credibility and facilitates clear understanding of audit issues and influences change, where appropriate.

Candidate should be focused on timely completion of tasks and the ability to identify and assess a changing array of risks.

Job requirements are as follows:

Basic Qualifications

Bachelor's degree required (Accounting or Business Administration) 

Three to five years of relevant experience (SOX, financial, operational and IT auditing, including creation of flowcharts and walkthroughs)

Certification desired (CIA, CPA)

Experience in a manufacturing environment preferred

Ability to travel up to 40%, domestically - required

Candidates must be US citizens or permanent residents to apply for this position

Open to future opportunities within the company, potentially requiring relocation

Additional Qualifications

An independent self-starter with a professional image and manner, strong work ethic, high degree of motivation, and the ability to contribute positively to the team

Exhibit initiative, strategic thinking, business acumen, critical analysis skills, and creative problem solving abilities

Strong communication abilities, both oral and written, and time management skills

Knowledge of MS Visio (or other flowcharting tool), MS Dynamics SL, and MS Office

Working knowledge of GAAP, COSO, SOX, and internal control systems

Note:  There is no relocation available for this position

About Eagle Materials, Inc.

Eagle Materials Inc. (NYSE: EXP) is a leading U.S. manufacturer and distributor of building materials including Portland cement, concrete and aggregates, gypsum wallboard and recycled paperboard.

The construction industry uses our products to build and renovate America's residential, commercial and industrial structures and to build and improve our country's public infrastructure.

Founded in 1964, we are the nation's fifth largest wallboard producer and the twelfth largest cement manufacturer.

Benefits

Eagle Materials, Inc. offers an excellent salary and benefits package including 401(K). Our health benefits include medical and dental insurance. Eagle Materials, Inc. also offers employees basic life and AD&D insurance.

Qualified candidates should contact Chris Mowery at cmowery@eaglematerials.com.  Eagle Materials, Inc. is an Equal Opportunity Employer.

Global Power  (7/24/12)

Senior Internal Auditor

Location: Irving, Texas

Perform audit assignments throughout the company as part of the overall audit plan to determine the effectiveness of internal controls, accuracy of financial records, the safeguarding of assets, compliance with laws and regulations, achievement of management’s objectives, and efficiency of operations. This includes primary responsibility to test management’s internal controls over financial reporting (Sarbanes-Oxley Section 404)

RESPONSIBILITIES:

• Assist the Director of Internal Auditing in championing the company’s values, internal control, ethics, and corporate governance concepts throughout the company.
  
• Test the efficiency and effectiveness of internal controls over financial reporting (Sarbanes-Oxley Section 404 compliance).
  
• Work closely with management to maintain current documentation on internal controls over financial reporting, reviewable testing of the design and effectiveness of those controls; monitor the closing of control gaps and facilitate periodic management review of that documentation and testing results enabling them to provide adequate quarterly certification around those Sarbanes-Oxley controls.
  
• Perform individual internal audit assignments, partnering with staff from a co-sourcing organization.
  
• Participate in planning and risk assessments relating to each audit assignment to ensure work is effectively focused on the areas assessed as high risk.
  
• Possess an awareness of IT concerns and controls for consideration in audit planning and execution
  
• Conduct test work, clearly documenting and concluding on the work performed
  
• Recognize the need to modify programs/procedures based on control assessments and test work
  
• Participate in audit opening and closing meetings, along with frequent updates during the audit, held with those being reviewed to ensure transparency during the audit process
  
• Clearly present recommendations to management
  
• Draft clear, concise, grammatically-correct audit reports, including management’s remediation timetable.
  
• Follow-up on agreed upon management remediation actions.
  
• Be a team member on various special projects requiring analytical and risk assessment skills
  
• Stay abreast of best practices and provide a conduit for introducing those practices to the company

TECHNICAL SKILLS:

• Sound knowledge of GAAP, COBIT, COSO and the IIA’s International Standards for the Professional
• Practice of Internal Auditing.
  
• Solid understanding of the Sarbanes Oxley Act of 2002, especially sections 302, 404, and 906.
  
• Strong organizational, research and analytical skills
  
• Strong oral, written, and presentation skills to effectively present to peers and management
  
• Strong project management skills
  
• Working knowledge of Audit Command Language (ACL) for data mining and analysis
  
• Working knowledge of automated working papers
  
• Language ability helpful in Dutch, Spanish or Mandarin
  
• Proficient with MS Word, Excel,  Access and PowerPoint
  
• Some industry knowledge – power generation, manufacturing and/or construction.

EDUCATION:

Bachelor’s or Master’s degree in Accounting, Finance or Business Administration required.

EXPERIENCE:

• Two to four years financial analysis, accounting, auditing, internal control and/or Sarbanes-Oxley compliance experience.
  
• CPA, CIA, CFE and/or CISA. Attend continuing professional education classes and training courses.

Qualified candidates: Please apply online: www.globalpower.com or contact:
Jeff Faust  (918) 274.2358

Weaver LLP  (7/9/12)

Audit Advisory Senior

Weaver and Tidwell is seeking an Advisory Senior Associate that will be responsible for day-to-day execution of engagement objectives on Advisory engagements. This role requires the ability to supervise 1-3 Associate staff members. This candidate must possess a greater than basic understanding of the COSO internal framework, and the Sarbanes-Oxley Act and the related requirements of Section 404, GAAP, GASS and IIA Standards. This candidate should also possess a greater than basic understanding of financial reporting, transaction cycles and business processes. CPA or CPA candidate; CIA or CIA candidate required (CPA preferred) with 2-5 years or more of public accounting experience, industry or a combination of public accounting and industry experience. Bachelors degree in Accounting, Finance, or related field required.

Weaver and Tidwell, LLP, a leading accounting and consulting firm headquartered in Fort Worth, Texas, has been in continuous practice for 60 years. Weaver is ranked as the largest regional independent accounting firm in the Southwest by Accounting Today Magazine, and is ranked among the top 50 firms in the nation by Public Accounting Report.

At Weaver and Tidwell, LLP, your career journey will be both exciting and challenging. Weaver offers competitive benefits, flexible schedules, top salaries, a business casual environment, and 7 great locations throughout Texas: Fort Worth, Dallas, Houston, San Antonio, Austin, Midland, and Odessa. Whether your interest lies in developing skills in areas such as international tax, forensic accounting, wealth transfer, audits of publicly held companies, green e-attest services for energy companies, or corporate tax work and beyond, find the path that is right for you. Building your career involves the important step of selecting a firm that is not just an employer, but is also an advocate of your personal and professional growth. Weaver and Tidwell, LLP is that advocate, and we are proud to offer our team members an environment surrounded by people who are Driven, Like You.

For immediate consideration please contact Michelle.Griffin@weaverllp.com or apply online @ http://www.weaverllp.com/Careers.aspx

Audit Advisory Senior- Oil & Gas

Weaver and Tidwell is seeking an Advisory Senior I Associate that will be responsible for day-to-day execution of engagement objectives on Advisory engagements. This role requires the ability to supervise 1-3 Associate staff members. This candidate must possess a greater than basic understanding of the COSO internal framework, and the Sarbanes-Oxley Act and the related requirements of Section 404, GAAP, GASS and IIA Standards. This candidate should also possess a greater than basic understanding of financial reporting, transaction cycles and business processes. CPA or CPA candidate; CIA or CIA candidate required (CPA preferred) with 2-5 years or more of public accounting experience, industry or a combination of public accounting and industry experience. Bachelors degree in Accounting, Finance, or related field required; Masters degree preferred. Experience in the Oil & Gas industry is preferred.

Weaver and Tidwell, LLP, a leading accounting and consulting firm headquartered in Fort Worth, Texas, has been in continuous practice for 60 years. Weaver is ranked as the largest regional independent accounting firm in the Southwest by Accounting Today Magazine, and is ranked among the top 50 firms in the nation by Public Accounting Report

At Weaver and Tidwell, LLP, your career journey will be both exciting and challenging. Weaver offers competitive benefits, flexible schedules, top salaries, a business casual environment, and 7 great locations throughout Texas: Fort Worth, Dallas, Houston, San Antonio, Austin, Midland, and Odessa. Whether your interest lies in developing skills in areas such as international tax, forensic accounting, wealth transfer, audits of publicly held companies, green e-attest services for energy companies, or corporate tax work and beyond, find the path that is right for you. Building your career involves the important step of selecting a firm that is not just an employer, but is also an advocate of your personal and professional growth. Weaver and Tidwell, LLP is that advocate, and we are proud to offer our team members an environment surrounded by people who are Driven, Like You.

For immediate consideration please contact Michelle.Griffin@weaverllp.com or apply online @ http://www.weaverllp.com/Careers.aspx