Auditing for Profit
Event 68
Wednesday
June 15, 2005
Royal Crown Conference Center, 83 Garry Street (Winnipeg, Manitoba)
8:15 AM to 12:00 PM
Presented By:
For further information contact
Gord Glesmann, Program Chair - (204) 945-7623 Gord
John Graeb, Seminar Chair - (204) 632-2194 John
Visit the ISACA Winnipeg Chapter web site at isaca-wpg.org
SCHEDULE
Registration ............. 8:00 AM to 8:15 AMPresentation ............ 8:15 AM to 10:10 AM
Coffee Break ..........10:10 AM to 10:30 AM
Presentation ...........10:30 AM to 12:00 PM
SPEAKER INFORMATION
Gordon E. Smith (Home Base: Simi Valley, California), President and CEO of Canaudit Inc., has over a quarter century of progressive audit experience. He continues to explore new audit and security technology as he develops new auditing procedures and techniques. Specializing in high-tech auditing, Mr. Smith is a recognized expert on auditing complex networks, operating systems, databases, and forensic auditing. He is the original developer of the Canaudit Penetration Testing methodology and continues to be a leading member of the penetration audit team.
As a practicing auditor with a strong business sense, Mr. Smith is adept at tying critical audit findings to the key objectives of the organization. He has been the keynote speaker at many national and international conferences. His highly energetic and enthusiastic presentations make audit topics interesting, exciting, and informative. His motivating style and dynamic delivery techniques capture the interest of the audience, open their minds, and inspire them to accept new methodologies and techniques. His innovative audit techniques and ability to translate complicated technology into simple English make Mr. Smith one of the most popular speakers on the audit and computer security lecture circuit.
Mr. Smith is a distinguished career auditor with both internal and external audit experience. He founded Canaudit in 1985 to provide professional development and consulting services to the international audit community. In the banking industry, Mr. Smith served as President of Security Pacific Audit Services, a subsidiary of Security Pacific Bank. Through Canaudit, Mr. Smith has provided training and audit consulting services to many of the larger banks in the United States and Canada. His clients include well-known banks such as Bank of America, Wells Fargo, Union Bank, California Federal, Great Western Bank, and Bank One. He has also provided services to other financial institutions such as Merrill Lynch, Dean Witter, Charles Schwab, and Sun Life. Mr. Smith also has extensive experience in performing technical audits of power and gas utilities, retail, and Government.
Mr. Smith pioneered the integrated audit concept and assisted many of the above organizations in making the transition to the integrated audit concept. His unique ability to explain complex information technology concepts has enabled many internal auditors to succeed in becoming "true" integrated auditors. His structured COSO-compliant approach enables integrated auditors to provide increased audit coverage while dramatically reducing the time required to perform integrated application audits.
Mr. Smith is a Certified Management Accountant (CMA) who graduated in 1981. He is also a Certified Government Financial Manager and a member of The Institute of Internal Auditors, The Information Systems Audit and Control Association, and The Association of Government Accountants.
Mr. Smith is listed in the WHO'S WHO OF LEADING AMERICAN EXECUTIVES and has published 2 books titled Network Auditing: A Control Assessment Approach and Control & Security of E-Commerce, both published by John Wiley and Sons.
SESSION OVERVIEW
The last year has been a trying one for auditors. Much of our audit budget was expended on Sarbanes Oxley, Gramm Leach, Bliley and HIPAA at the expense of much-needed audits that were deferred. While these legislative requirements will never go away, the bulk of the work is behind us. At Canaudit, we believe that now is the time to switch gears into the Auditing for Profit mode. Using the documentation created during SOX compliance as a starting point, we can identify processes that are ineffective and transaction flows that are inefficient. By focusing on cash flow potential, we can produce a better return for our organization. Through observation, we can identify labor-intensive processes that can be rationalized. We must also make better use of our limited audit resources so that we can do more audits and shorten the audit process.
This seminar is intended to inspire creative thought processes, audit innovation and staff rejuvenation.
WHO SHOULD ATTEND:
SEMINAR OUTLINE:
Event Costs
This session is intended for audit directors, managers and senior auditors.
I The Auditing for Profit Concept
Understanding Auditing for Profit
Using existing documentation to identify inefficiencies
Opening minds, inserting ideas
Combating Can't-ism
Changing the audit process
II Auditor Productivity
Auditor, heal thyself first
The Canaudit Integrated audit approach
Planning the audit
Effective use of audit software
Deeper coverage, less hours
III Employee Productivity
High cost resources poorly utilized
Meetings vs. decisions
Gordie's cost calculator
Politics vs. performance
Travel and Entertainment
Expanding empires
Gordie's three laws
Auditor risk
Identifying uneconomical practices
IV The Cash Flow Approach
Identifying uneconomical practices:
1. poor cash flow
2. underutilized assets
3. labor intensive practices
4. redundant or unnecessary procedures
Suggested focus areas:
1. accounts receivable
2. accounts payable
3. procurement
4. sales and order entry
Targeting specific procedures
Quantifying the potential
Using software to extract specific examples
Creating viable recommendations
V Asset Utilization Approach
Suggested focus areas:
inventory
plant & equipment
fixed assets
investments
computer technology
maintenance
other areas
Identifying under-utilized assets
VI Identifying Labor Intensive Practices
Suggested focus areas
1. office and administrative procedures
2. ERP and transaction processing
3. branch or regional operations
Targeting specific procedures
Quantifying the potential
Using software to extract specific examples
Creating viable recommendations
Building the business case
Identifying areas for outsourcing or re-engineering
VII Identifying Customer Dissatisfaction
Customer frustration reduces revenues
Call management systems
Internet ordering issues
Ensuring customer satisfaction
VIII Closing Comments
Prerequisites: None
Intermediate level / Group Live
Event Policies
If we cancel a course for any reason, our liability is limited to the registration fee only.Advance Registration and Payment is greatly appreciated and Substitutions are allowed.
Cancellation Deadline: May 30, 2005.Please refer to our Chapter Cancellation & Substitution Policy and Privacy Policy The speakers, topics and events are correct at the time of publishing and if unforeseen circumstances occur, ISACA reserves the right to alter or delete items from the program. The presenters have prepared this material for the professional development of ISACA members and others. Although they trust that it will be useful for this purpose, neither the presenters, nor ISACA can warrant the use of this material would be adequate to discharge the legal or professional liability of members in the conduct of their practices.
For ISACA Winnipeg Chapter information contact the President or for Membership information contact the Membership Director