Internal Controls 2008 - Toronto
Practical Solutions for Ongoing Compliance Challenges
Conference: August 19 and 20, 2008
Optional Workshop: August 21, 2008
Radisson Admiral Harbourfront Hotel · Toronto, Ontario
Conference Program Agenda - Day One
Tuesday, August 19, 2008
| 8:00 - 9:00 |
Registration and Continental Breakfast |
Q:QQ - Q:QQ |
9:00 - 9:15
Welcome and Opening Remarks from the Chair
Massood Oroomchi, Partner, FinEx Group
9:15 - 10:15
Latest Developments in Internal Controls Reporting
Marion Kirsh, Associate Chief Accountant, Ontario Securities Commission
- Comments on Revised NI 52-109 and related materials
- Impact of SEC guidance
- Impact of CICA and PCAOB guidance
- Timelines
- What to expect in the future
| 10:15 - 10:30 |
Networking Break |
10:15 - 10:30 |
10:30 - 11:30
Strengthening Your Organization's Anti-Fraud Program and Controls: Identifying and Testing Key Elements
Geoff Rodrigues, Senior Manager, Risk Management Services, Meyers Norris Penny LLP
- Determine what key elements are needed in order to ensure enterprise-wide anti-fraud best practice processes and controls
- Testing anti-fraud programs and controls
- Protecting your company's reputation in case of fraud detection
- Strengthening fraud controls: IT processes and at entity-level
- Learn how to strengthen your organization's code of conduct, the establishment of accountability and sanctions for non-compliance
11:30 - 12:30
Best Practice Case Study
From Project to Process: Decreasing Your Testing Sample and Moving Forward
Brian Fiedler, Vice-President, Canadian Tire Corporation
- Refining and rationalizing your key controls
- Developing an effective testing strategy
- Decreasing sample size moving forward
- Leveraging monitoring controls to reduce testing of transactional controls
- Matching testing methods to level of risk
- Making testing an ongoing process versus a one-time project
| 12:30 - 1:45 |
Luncheon Break |
12:30 - 1:45 |
1:45 - 2:45
Documenting, Testing, and Reporting Entity-Level Controls and Operating Effectiveness
Tom Chirrico, Director of Internal Audit, Four Seasons Corporate Office
- Linkage to business process controls
- Testing operating effectiveness of entity-level controls
- Monitoring controls
- Leveraging effective entity-level controls to reduce process-level work
- Remedial methods for deficiencies
- Documenting, testing, and reporting procedures
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Management Discussion and Analysis (MD&A) Disclosures
Stuart Hartley, President, FocusROI
- Measuring efficiency of controls
- New disclosure requirements
- How to disclose material weaknesses
- Most common deficiencies: how to avoid them?
- Linking risk disclosures to the planning process to ICFR reporting
- Due diligence: what and how much are you required to do?
4:00 - 5:00
Control Optimization and Risk-Based Testing to Minimize the Cost of Compliance
David Zanin, Managing Director, Sunera Canada
- Determining the right controls to test
- Understanding the controls "ROI" (rationalization, optimization, and improvement)
- Leveraging entity-level controls to reduce testing
- Assessing the risk requirements for testing controls
- Tiering testing approaches to accommodate differing levels of risk
- Analyzing challenges and leading practice on testing strategies
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