October 2001

Thursday, October 18, 2001
CityPlace Conference Center

Mergers & Acquisitions

Lunch Meeting 12:00pm
Registration begins at 11:30am

Trends and Risks in Mergers & Acquisitions

Presented by John Trampe, CPA, CIA, Director, Global Risk Management Solutions, PricewaterhouseCoopers

John will discuss recent trends in merger activity. He will also address risks organizations face as they complete acquisitions and mergers and how internal auditors can help organizations mitigate these risks.

John is a Director in the Global Risk Management Solutions unit of PricewaterhouseCoopers LLP and has over 27 years experience in internal audit, public accounting and in industry practice. For the past year, he has led a major internal audit outsourcing engagement for a Fortune 150 corporation.

John has a great deal of experience and is heavily involved with the implementation and monitoring of key performance indicators to detect operational stability issues during major acquisitions.

He regularly speaks on managing risk during mergers and acquisitions, and recently authored an article for the Journal of Accountancy on "The Internal Auditor's Role in Mergers and Acquisitions."

John earned a Bachelor of Business Administration with an emphasis in Accounting from the University of Notre Dame. He is also a past President of the Dallas Chapter of the IIA.

Pre-Meeting 10:30am

Internal Auditors Role In Mergers and Acquisitions - Best Practices And Lessons Learned

Panel Of Expert Auditors, Moderated by John Trampe, Director in the Global Risk Management Solutions, PwC

Last year, the total value of mergers and acquisitions exceeded $1.5 trillion worldwide. Sooner or later, nearly all of us will be involved with a Company merger or acquisition. This is your chance to learn so you and your internal audit team will be prepared to contribute.

Come and hear a panel of experienced audit professionals from a diversified mix of industries (including banking, high tech, retail, healthcare, and utilities) discuss the following related to mergers and acquisitions:

• Best Internal Audit practices in mergers and acquisitions
• Lessons learned - get involved up front, stay involved
• Due diligence in mergers and acquisitions
• Adding value to the merger and acquisition process
• After the fact involvement - Auditors role in business integration

Post Meeting 1:30pm

The Merger And Acquisition Process - Internal Audit’s Role
Presented by John Morgan, Partner - Enterprise Risk Services, D&T

John has over 26 years of professional experience in the auditing profession. John is a seasoned internal audit professional with over 19 years of utility/energy industry experience, including 15 years in audit management positions. John has extensive experience in auditing critical business practices including mergers and acquisitions.

John is an honors graduate of the University of Florida and a Certified Internal Auditor. He is a member of the Institute of Internal Auditors and Vice Chair of the International Editorial Policy Committee, which oversees the publication of the IIA’s professional journal and periodicals.

This meeting is being held at CityPlace Conference Center.

Note:  The DART rail station at CityPlace is now open! Check for information and schedules at DART's website: http://www.dart.org/default.asp

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:

Lori Cannafax
Phone: 972-431-5981
Fax: 972-431-5995
e-mail: lcann3@jcpenney.com

Meeting / Luncheon Fees:

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 October 12, 2001 or a $5 late fee will be charged.

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

Please mark your calendar for future meeting dates for the 2001-2002 chapter year:

• Thursday, November 15, 2001
• Thursday, December 13, 2001
• Thursday, January 17, 2002
• Thursday, February 21, 2002
• Thursday, March 21, 2002
• Thursday, April 18, 2002
• Thursday, May 16, 2002

Chapter News

Research Foundation

Dave Hallo recently received the following three new publications from the Foundation. They can be purchased through the IIA Distribution Center (toll free in the U.S. 1-877-867-4957).

• Internal Audit Reengineering: Survey, Model, and Best Practices - (order number 420, price is $60 for IIA members and $75 for nonmembers). This research provides a broad overview and summary of the important issues facing internal auditing departments in light of the changing role of internal auditors today, discusses methodologies and elements for a successful changeover, and provides profiles of best practices currently in use at world class organizations.
• Independence and Objectivity: A Framework for Internal Auditors - (order number 419, price is $60 for IIA members and $75 for nonmembers). This study explains the complex and critical issues associated with auditor objectivity. It provides a framework that audit practitioners can follow as they confront the rising challenges of the changing workplace and become more proactive, providing a broadened variety of services and otherwise changing the internal audit model in view of the profession’s new definition.
• Enterprise Risk Management: Trends and Best Practices - (order number 423, price is $100 for IIA members and $125 for nonmembers). This detailed monograph uses first-hand accounts to illustrate the traits of successful enterprise risk management (ERM) programs, how ERM can lead to more effective and integrated management approaches, the benefits and pitfalls of diverse ERM methods, the latest information on cash-flow and stakeholder risks, and how ERM can boost market value and improve earnings consistency.

Membership Matters Campaign

Membership Matters!
"Why?" you ask.

Because strengthening our chapter programs, bolstering our leadership, and, more importantly, growing our organization all require that we pay close attention to membership.

So what are we going to do about it?

The IIA has developed a membership campaign called Membership Matters and there are two easy ways to participate:

1. You can personally recruit new members, or
2. You can let The IIA do the recruiting for you by sending them information on potential members.

To sweeten the pot, The IIA has added some great incentives that you can win:

• An all-inclusive International Conference 2002 package,
• An Omni Hotels and airfare package,
• A Palm Pilot,
• IIA products and services, and
• Bonus bucks that may be redeemed for educational products and programs, and membership renewal.

As an added bonus, by participating in the campaign you could help our chapter win an IIA on-site chapter seminar presented by an expert instructor!

For complete details refer to The IIA web site at www.theiia.org or pick up one of the brochures at the October meeting.

Welcome to our newest members!

IIAOnlineCPE

The IIA Seminar Development Group is proud to announce a great new program - IIAOnlineCPE.org. IIAOnlineCPE is the perfect solution for internal auditing professionals on a limited training budget or not able to readily travel to seminar sites. Our chapter is partnering with The Institute of Internal Auditors to offer our members annual subscriptions to IIAOnlineCPE Web-based training for only $95.

In addition, for every ten (10) members who subscribe to IIAOnlineCPE, our chapter will receive one free annual subscription to be given out as future chapter prizes and awards.

Here is some information about IIAOnlineCPE:

• Your choice of over 150 educational courses currently used by more than 50% of Fortune 500 companies.
• Unlimited access to all courses.
• Courses use streaming video technology with excellent visual aids and graphics.
• At least 4 new lectures (courses) are added monthly.
• Timely information on financial news and trends.
• A personal CPE record that tracks the hours you've earned.
• The ability to print your own CPE certificates. One-year subscription with unlimited usage. That’s less than $1.60 per CPE credit hour, an incredible value!!
• IIAOnlineCPE offers two free demonstration courses, so you can try before you buy.

To subscribe, call or e-mail Ray Brindley, Seminar Development, The Institute of Internal Auditors at 407-830-7600, extension 295 (rbrindley@theiia.org)

Report Your Speaking and Writing

It's time again for the survey to determine which IIA Dallas Chapter members have submitted articles or spoken during September, or earlier if not previously reported. 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 October 15, 2001. Contact Dace Ward (dace.ward@eds.com, 972-605-6128) if you have any questions.

Our Next Seminar

The Art Of Profiling –
Reading People Right the First Time

Presented by Dan Korem, Investigative Journalist,
President of Korem & Associates
and author of "The Art Of Profiling"

DATE: November 28, 2001
LOCATION:  JCPenney Park Central Facility, Near Coit Rd. & LBJ
TIME: 8:30am - 4:30pm
CPE: 8 Hours
COST: $200 For IIA Members, $395 Non-Members, $295 For Educators

Online Reservations

Profiling is an interviewing technique that can make you a more effective auditor. You and your audit team will benefit from Dan Korem’s exhaustive research on interviewing and reading people right the first time.

Dan Korem is a critically acclaimed author, documentary producer, and independent investigative journalist whose programs have been seen by over 150 million people worldwide. One of the most sought-after speakers for corporate, law enforcement, and education groups in the US and Europe, he is the president of two Dallas-based communications companies. His most recent books are Suburban Gangs—The Affluent Rebels (1995), The Art Of Profiling—Reading People Right the First Time (1997), and Streetwise Parents, Foolproof Kids, which came out this summer.

The Korem Profiling System is the first comprehensive system for profiling people within a few minutes of interaction, enabling one to predict how a person prefers to communicate, perform on the job, and make decisions. It is widely used by Fortune 500, education, and law enforcement professionals for human resource, team management, sales, and confrontational applications. Developed in the early 1990s, Dan's techniques were derived from well-accepted gauges for measuring behavior and proven concepts for reading behavior from the field of psychology. Over 25,000 professionals in the US and Europe have received behavioral profile training using the system.

Dan has discussed Profiling as a keynote speaker or distinguished lecturer for the Society of Human Resource Management in 1997 and the IIA's 57th International Conference here in Dallas in 1998, as well as scores of corporate groups and professional associations in the US & Europe.

You will be entertained while you learn, as Dan has been known to throw in a magic trick or two to keep things lively. You will not be disappointed!

You can register On-line at http://dallasiia.org/Profiling.htm

Introduction To IT Auditing

North Texas Chapter of ISACA would like to extend an invitation to all Dallas Chapter IIA members to their Fall Seminar, Introduction To IT Auditing, October 29 - 31, 2001 at CityPlace Conference Center.

Presented by Bryan McAtee, of Bryan McAtee & Associates

This three days seminar will include:

• Definition of Information Technology (IT) Auditing
• IT Audit Standards & IT Best Practice
• The IT Control Mix
• Classification of IT Controls
• Overview of IT Audit Process
• IT Control Areas

Bryan McAtee is the Principal of Bryan McAtee & Associates, a firm of independent consultants providing computer-related and training services on an international basis. Bryan is the former Director of Professional Services for the Information Systems Audit and Control Association (ISACA), which has its world headquarters in Chicago, USA. He was responsible for developing a series of practical educational products and services available to the Association's 15,000 members through its 140 Chapters located around the world.

Bryan has completed assignments in many countries around the world including the USA, Canada, Belgium, Switzerland, South Africa, Australia, United Kingdom, Thailand and the United Arab Emirates. Bryan is a Certified Information Systems Auditor, an Associate member of the Australian Society of Certified Practicing Accountants and a member of the Australian Standards Association.

For additional details and for information about registration, visit http://www.isacantx.org/calendar.htm

Career Opportunities

Senior Internal Auditor

Cadbury Schweppes has immediate openings for a Senior Internal Auditor to plan and perform operational and financial audits. Cadbury Schweppes is a multinational beverages and confectionery company with subsidiaries such as Dr Pepper/Seven Up, Mott's, Snapple Beverage Group, and the Dr Pepper Seven Up Bottling Group in North America. This position will report directly to the Director of Internal Audit for the business units in North and South America and will perform audits of financial and management information systems.

The Sr. Internal Auditor will be required to assess business risks, evaluate the effectiveness of internal controls and the efficiency of business processes and information systems, establish rapport with business unit management and identify special projects and audit engagements to improve business unit performance. The Sr. Internal Auditor has significant interaction with Business unit management, as the role is responsible for the issuance of reports that summarize audit results and recommendations for improvements to the Company's financial and management information systems.

Cadbury Schweppes Group Audit is organized into three principle regions. The US team covers USA, Canada, Mexico and South America. Group Audit has a strong recruitment track record. On average, members of the team stay with the department for two years before moving on to key roles across the group. We look for individuals who are professional, highly motivated, friendly, and dynamic. We offer a competitive salary package including pension, 401(k), medical and dental, stock purchase, and eligibility to participate in an annual incentive program.

Position Summary:

The selected candidates will perform the following tasks:

1. Plan and organize audit projects. Document business processes and the results of audit test work. Creating and maintaining the Group Audit record of operating companies business processes, by properly documenting the procedures and evaluating the controls.
2. To identify, review and document improvements in business processes and controls.
3. To produce draft audit reports which are timely, accurate, understandable and actionable. Each report should clearly state the nature of the problem, the improvement needed and the possible effect or expected benefit from implementation of the corrective action.
4. To control the end of audit meetings in an objective and professional manner and obtain agreement on the recommendations made and the action plan required.
5. Carry out special projects at the request of the Director of Internal Audit - Americas.
6. Contribute ideas to the development of the annual audit plan and identification of special projects.

We are looking for an individual with the following qualifications:

1. Bachelor's Degree in Accounting, Finance, Management, Business Administration, or other business related major.
2. CPA preferred.
3. 3-4 years recent internal audit and/or public accounting experience.
4. Ability to understand and analyze problems in a short time frame.
5. Sound judgment to identify the right solutions for business problems.
6. Excellent verbal and written communications skills.
7. Commitment and self-motivation.
8. Experienced use of PC technology and office productivity programs.
9. Proficiency in Spanish is desired, but not required.

In addition, the selected candidate should be willing to travel up to 50 percent. The majority of travel will be domestic, although international travel is occasionally required.

If you are interested in applying for this position, please send a Word Document resume with salary expectations Glenn_P_Onstad@dpsu.com or, alternatively, fax a resume to 972-673-7125.

Cadbury Schweppes
is a multinational beverages and confectionery company with subsidiaries such as
Dr Pepper/Seven Up, Mott's, Snapple Beverage Group,
and the Dr Pepper Seven Up Bottling Group in North America

Please visit our website at www.dpsu.com

Looking for a career change or companies seeking employees? Let the Dallas IIA Employment Committee help you. Individuals seeking positions can send an updated resume to:

Greg Dubis
JCPenney Company
P.O. Box 10001
Dallas, TX 75301-4321
Phone: (972) 431-5946
Fax: (972) 431-5995
E-mail: gdubis@jcpenney.com

Resumes will be kept on file and forwarded to Companies and Recruiters seeking to fill positions. This service is offered to members at no charge.

Also, any Company desiring to advertise a job opening in the Monthly eNews and on the web site may do so for a small fee. Contact Tracie Martin (traciem@baylordallas.edu) at 214-820-6970 for more information.