Internal Controls - Toronto
Integrating Internal Control Compliance with Your Everyday Business Processes
Conference: December 2 and 3, 2008
Optional Workshops: December 4, 2008
Toronto, Ontario
Conference Program Agenda - Day One
Tuesday, December 2, 2008
| 8:00 - 9:00 |
Registration and Continental Breakfast |
8:00 - 9:00 |
9:10 - 10:10
Welcome and Opening Remarks from the Chair
Massood Oroomchi, Partner, FinEx Group
9:10 - 10:10
Update Session in Internal Controls Reporting: What You Need to Know about the Latest Regulatory Standards
Marion Kirsh, Associate Chief Accountant, Ontario Securities Commission
- Final NI 52-109 and related materials
- SEC developments on Sarbanes-Oxley
- NI 52-109 and IFRS
- Exploring compliance issues
| 10:10 - 10:30 |
Networking Break |
10:10-10:30 |
10:30 - 11:30
Management Discussion and Analysis (MD&A) Disclosures
Stuart Hartley, President, FocusROI
- Focusing on disclosure requirements with respect to controls, procedures and Internal Control Over Financial Reporting (ICFR)
- Identifying how and when to disclose material weaknesses
- Recognizing most common control deficiencies: how to avoid them?
- Due diligence: what and how much are you required to do?
11:30 - 12:30
Case Study
Internal Audit Involvement in Risk Management
Mark Rodrigues, Risk Management Officer, Cara Operations Ltd.
- Assessing the importance of risk management in your organization
- Focusing on who is responsible for risk management in your organization
- Discerning what role internal audit has in the risk-management process
- Exploring the synergies involved with risk consolidation
- Looking at your risks from both a business and fraud perspective
- Assigning ownership of risks
| 12:30 - 1:45 |
Luncheon Break |
12:30 - 1:15 |
1:45 - 2:45
Case Study
Internal Control Management inside Canadian Subsidiaries of U.S. Multinationals
Dale Scott, Senior Advisor, General Electric Co.
Geoff Bonner, Manager, Internal Controls and Projects, Xerox Canada Ltd.
Kelsie McKay, Manager, Controls and Compliance, Xerox Canada Ltd.
- Managing controls with limited resources
- Addressing compliance issues
- Lessons learned in past four years
- Exploring the role of SOX in the Canadian subsidiary
| 2:45 - 3:00 |
Networking Break |
2:45 - 3:00 |
3:00 - 4:00
Impact of IFRS on Internal Controls
Carmen Rossiter, Managing Director, Protiviti
- Ensuring proper control environment for effective conversion
- Exploring how IFRS will impact entity-level, transaction and IT controls
- Aligning changes in accounting practices with changes in processes and related controls
4:00 - 5:00
Controls over Financial Close and Reporting Processes
Massood Oroomchi, Partner, FinEx Group
- Analysing typical weaknesses in the area of financial close controls
- Closing the books and issuing statements: the role of internal controls
- Exploring the role of spreadsheets
- Rationalizing and creating efficiencies
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