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 Two
Wednesday, August 20, 2008
| 8:00 - 9:00 |
Continental Breakfast |
8:00 - 9:00 |
9:00 - 9:15
Opening Remarks from the Chair
Massood Oroomchi, Partner, FinEx Group
9:15 - 10:15
Best Practice Case Study from the U.S.
Optimizing Internal Audit in the Post-SOX Era
Mary Anna Shoham, Deloitte & Touche LLP (U.S.)
- Real life-examples of an internal audit maturity model
- Early SOX days: how it was handled, what was done?
- Developing strategies for SOX compliance
- Continuous compliance: lessons learned after six years of SOX
| 10:15 - 10:30 |
Networking Break |
10:15 - 10:30 |
10:30 - 11:30
Impact of the IFRS Transition on Your Internal Controls
Massood Oroomchi, President, FinEx Group
Gordon Heard, The Finance Group
- Canadian roadmap to IFRS
- Ensuring proper control environment for effective conversion
- Identifying impacts that the move to IFRS will have on your internal controls including entity-level controls, transaction controls and information technology Controls
- Aligning changes in accounting practices with changes in processes and related controls
- Planning for the changes
11:30 - 12:30
Outsourcing and the Impacts on Controls: Section 5970 and SAS 70 Report
ames Knott, Partner, Grant Thornton LLP
- Ensuring presence of controls
- Testing an outsourced environment: 5970 and SAS70
- Documenting, testing, reporting, and remediation of deficiencies
- Working with other company to ensure compliance
- Managing outsourcers
| 12:30 - 1:45 |
Luncheon Break |
12:30 - 1:45 |
1:45 - 2:45
Streamlining Controls with Business Processes
Hubert Huang, Business Risk Practice Leader, Protiviti
- Integrating controls environment with daily business activities
- Aligning internal controls to business strategy and key risks faced by the firm
- Designing internal controls for business process improvement
- Moving from project to process
- Measuring and monitoring ROI with improved performance
- Applying a broader understanding of key risk areas to relevant areas of controls and directing investments based on that knowledge
- Ensuring your internal control infrastructure underpins the execution of overall business
oversight and risk management practices
- Continuous controls testing
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Cost Effective and Value-Added Certification
Chris Boland, General Manager, Accounting, Canada Post Corporation
- Using a top-down, risk-based approach to maximize benefits
- Defining the project scope and testing
- By-products of control certification
- Developing the appropriate governance structure, including defining accountabilities and responsibilities,
to sustain internal control reporting
- Integrating internal control reporting with other governance, risk and compliance (GRC) initiatives
to increase effectiveness and efficiency
- Learn to apply the knowledge gleaned from internal control assessments (ex. inefficiencies etc.)
to use opportunities for business process improvement and to create value for your organization and its shareholders
4:00 - 5:00
Maintaining Effective Internal Controls and Compliance in a Changing Environment
Kelly O'Hayon, Director Internal Controls, Finance, Bombardier Aerospace
- Staying compliant during changes
- Documenting changes
- Integrating new components into testing plans
- Doing it without interrupting the business
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