2013 Internal Auditing Conference
CONFERENCE PROGRAM
Agenda-at-a-Glance
Download the final agenda
FEATURED SESSIONS
THE TRUST EDGE: How Top Leaders Gain Faster Results, Deeper Relationships, and a Stronger Bottom Line
David Horsager, Business Strategist and Author
A lack of trust is your biggest expense. It may take years for a manager or an executive to develop the trust of his or her employees, but only moments to lose. Without trust, transactions cannot occur and influence is destroyed. Without trust, leaders lose teams and people lose sales. Without trust, organizations lose productivity, relationships, reputation, talent, customer loyalty, creativity, morale, revenue, and results. Indeed trust, not money, is the currency of business. This session, based on David Horsager’s top-selling book THE TRUST EDGE, will provide you with the ultimate guide to earning, maintaining, and even rebuilding this most critical factor of every business relationship
BONUS: Attend David’s session and receive a FREE copy of his book “The Trust Edge”
REVIVE Spirit in the Workplace!
Sam Glenn, Motivational Speaker and Author of “A Kick In the Attitude”
Spirit is the atmosphere and attitude of a place or situation that influences effort and attitude in its people. Reviving spirit in the workplace is about creating awareness that excellence still matters. Teamwork still works. Positive communication is a must. And profit, productivity, and performance depend on attitude and effort now more than ever. Learn how reviving spirit in the workplace can improves employee engagement and communication, recharge attitudes and detox the negative thinking and behaviors that disrupt performance. Discover how to unleash the leader within and find solutions and ideas to deal with the stresses of changes, challenges, and the unexpected, as your company makes new decisions based on current trends.
RETAIL INTERNAL AUDITING: TRENDS, BENCHMARKS AND BEST PRACTICES TO MEASURE SUCCESS
Join us to hear the latest trends, benchmarks and best practices for internal auditing professionals in the retail industry. Based on original research conducted exclusively for this conference by means of a survey designed in consultation with your internal auditing peers, this presentation will reveal insights on productivity measures, gauging efficiency and effectiveness of the audits and creation of audit plans. Leave this session with a clear understanding of industry practices in measuring audit success and how to measure your own organization to those of your industry peers.
Anne-Marie Roerink, Principal, 210 Analytics, LLC
Navigating through contractual arrangements and processes for pharmacy third party billing presents a formidable challenge. This case study will explore how the internal auditing department at Spartan Stores, Inc. realized a value-added savings of $200 - $500K per annum by means of a pharmacy third party billing process review. Discover process improvement opportunities to mitigate control gaps in the contract administration, RX cost updating and account reconciliation areas and learn how to conduct a high level operational review of your own billing process.
Bill Naughton, Corporate Audit Manager, Spartan Stores, Inc.
MANAGING THE AUDIT VERSUS LETTING THE AUDIT MANAGE YOU!
Are your projects consistently overrun? Do you find yourself reviewing the same work more than twice? Do you find you have completed an audit plan/program section without accomplishing your objective? You are not alone! Join your fellow auditors for this informative and valuable session to learn how to identify and overcome challenges that lead to ineffective audits. Hear how to differentiate between audit creepers and risks. Learn how to focus on the final outcome and discover the key to developing effective and focused audit programs that will ensure you meet objectives effectively and in a timely manner.
Leticia Herrera-Price, Principal, LHP Consulting
This session will provide ideas and demonstrations on how data extraction software can be utilized to increase the effectiveness and efficiency of analyzing financial information. Identify opportunities for data extraction software usage in day-to-day operations and discover how the information gleaned from data extraction software can help you focus resources on higher risk areas of the business
Mandy Strauss, Partner, Assurance Services, McGladrey, LLP
Join a roundtable discussion of retail audit activities and related fraud findings and discuss how to identify risk and assess internal controls.
Sandra Mallon, Retail Audit Manager, Brookshire Brothers
FRONT END AUDITING
The front end is the single greatest contributor of risk exposure and shrink impact in your stores. Learn how cashiers manipulate register systems to commit fraud and how to use key performance indicators (KPI) as an effective tool to monitor the front end and identify cashier fraud. Find out what controls are critical to impact front-end shrink and improve your company’s bottom line.
Don Johnsey, President, JD Johnsey & Associates
FRAUD AND ABUSE IN THE CONSTRUCTION INDUSTRY
Construction projects are often major initiatives that can require significant monetary resources and command a high visibility within an organization. The construction industry is specialized and has its own language and industry norms which are sometimes exploited to the detriment of project owners. This session will provide insight into construction contract compliance areas of risk for owners, insight to mitigate these risks and discuss common fraud and abuse tactics.
William M. Consolie, Global Practice Leader, Construction Services, Experis Finance
IDENTIFYING RISKS AND FRAUD IN THE PETROLEUM INDUSTRY
Attend this informative session to get an understanding of the types of risk and fraud prevalent in the petro industry such as device tampering, driver and vendor fraud and learn how to identify red flags. Uncover how to appropriately account for fuel inventories and discuss the financial impacts of improper or absent accounting entries for petro inventories and equipment.
Carl Ray Polk, Managing Partner, Corner Capital Advisors
DIRECT STORE DELIVERY (DSD) AUDITING
DSD presents a high risk exposure as one person is responsible for receiving up to 25% of your store inventory. Learn how to improve your store-level audit process to reduce shrink at the back door by identifying risk in the DSD environment, auditing controls to reduce vendor and receiver fraud, and using data mining techniques to identify shrink. Learn what industry best practices are critical for control of the backroom.
Don Johnsey, President, JD Johnsey & Associates
THE BIG PICTURE: MACROECONOMIC FACTORS SHAPING THE FOOD RETAIL INDUSTRY
Gain insight into key macroeconomic factors that financial executives in the grocery industry can incorporate into their strategic and financial projections calculus. Review the current state of the U.S. and global macroeconomy and the potential implications for the food retail industry. Learn which key metrics food retailers should monitor and discuss the impact of current macroeconomic dynamics on your operating region and performance.
Scott Moses, Managing Director - Head of Food, Drug & Specialty Retail Investment Banking, Sagent Advisors
FINANCIAL REPORTING AND ACCOUNTING UPDATE
Attend this informative session to get crucial updates on upcoming financial reporting revisions and stay current on changes in the regulatory environment. Get an overview of recently issued accounting standards, proposals and exposure drafts and hear SECs views on accounting and reporting issues. Discuss proposed changes to private company standard setting and reporting.
Amy Grubbs, Executive Director, Ernst & Young LLP
DESIGNING A NEW RETAIL ECONOMIC MODEL
FMI’s Trends 2013 research tells a compelling story of change. Shoppers are now in control, as retailers battle to capture loyalty with a focus on value creation. Emerging trends such as new electronic channels, experience-based formats, rewired merchandising and marketing and personal technologies are dramatically transforming the food retailing landscape and driving new economic models. This session will review the key factors driving this transformation, address the subsequent challenges faced by retailers and offer recommendations to financial leaders to enable them to compete and succeed within this increasingly complex and competitive food retail environment.
- Thom Blischok, Chief Retail Strategist and Senior Executive Advisor, Booz & Co.
Join your peers for a fascinating look at actual retail fraud cases that illustrate the consequences of internal control failure. Contribute your own experiences and learn from those of your peers in this interactive and informative session.
K. Michael Howse, Director Internal Audit, Spartan Stores, Inc.
Marty Gurry, Internal Audit Director, Meijer, Inc.
ANTI-MONEY LAUNDERING AND THE BANK SECRECY ACT: WHAT YOU NEED TO KNOW TO STAY COMPLIANT
The Bank Secrecy Act (BSA) requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering. Learn how to recognize and report money laundering, understand how it differs from terrorist financing and get an overview of the U.S. laws designed to counter both. Review record keeping and reporting requirements associated with the BSA/AML to remain compliant with its provisions. Hear about new initiatives specific to consumer fraud and protection.
Valdis I. Undiks, CAMS, Strategic Account Compliance Advisor, Consumer Protection, Compliance & Ethics Department, Western Union Financial Services, Inc.
TREASURY'S NEW ROLE: MONETIZING BIG DATA WITH MOBILE PAYMENTS
Discover how Treasury is using mobile payments to transform payments from a “cost of doing business” to a “new line of business” by monetizing the “big data” feeds from transaction processing. In this candid, interactive discussion learn how the Treasury and Finance functions lead the strategy effort and eventual deployment of mobile payments and capture the upside revenue streams derived from the opt-in transaction data generated before, during and after each sale transaction. Real examples of the ROI and business drivers used to establish the new mobile payment profit center governed by Treasury and/or Finance will be shared and critiqued in the discussion.
Richard K. Crone, CEO, Crone Consulting, LLC
Heidi Liebenguth, Research Director, Crone Consulting, LLC
THEFT HURTS BUT OPERATIONAL SHRINK KILLS
Today we know that approximately 64% of store shrink is Operational Shrink. Learn the 9 causes of operational shrink, how much it is costing your company and the 7 best practices to control it. Discover new ways to improve your personal value proposition, how to collaborate with Store Operations and how to proactively reduce and prevent store shrink for measurable profit. Hear highlights, facts and stats from the 2012 National Supermarket Shrink Survey & Best Practices Study.
Larry Miller, CEO, Retail Control Group
Warehouse operations are one of the core areas for internal audit to deliver value in a low margin, high volume business. A risk-based warehouse audit program can yield measurable results by enhancing controls and minimizing waste. In this session, participants will review warehouse controls and assess their effectiveness, discover how to determine the root cause of damages and shrink and develop remedial strategies, discover the importance of food safety on the bottom line and company image and learn strategies for follow-up and permanent improvements.
Tim Deck, Senior Internal Auditor, C&S Wholesalers, Inc.
AGENDA-AT-A-GLANCE
SUNDAY, MAY 19
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5:00 pm – 7:00 p.m. |
Vendor Showcase and Cocktail Reception |
MONDAY, MAY 20
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7:00 a.m. – 8:00 a.m. |
Breakfast |
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8:00 a.m. – 8:10 a.m. |
Welcome and Opening Remarks |
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8:10 a.m. – 9:00 a.m. |
Designing a New Retail Economic Model |
| 9:00 a.m. - 9:10 a.m. |
Break |
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9:10 a.m. – 10:00 a.m. |
Retail Internal Auditing: Trends, Benchmarks and Best Practices to Measure Success |
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10:00 a.m. -11:00 a.m. |
Managing The Audit Versus Letting The Audit Manage You! |
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11:00 a.m. – 11:15 a.m. |
Break |
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11:15 a.m. – 12:15p.m. |
The Power of Data Analytics |
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12:15 p.m. – 1:15 p.m. |
Lunch |
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1:15 p.m. – 2:15 p.m. |
The Big Picture: Macroeconomic Factors Shaping The Food Industry |
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2:15 p.m. – 2:30 p.m. |
Break |
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2:30 p.m. – 4:00 p.m. |
Idea Exchange |
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4:00 p.m. – 4:15 p.m. |
Break |
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4:15 p.m. – 5:15 p.m. |
Treasury's New Role: Monetizing Big Data Across the Five Trigger Points |
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5:30 p.m. – 7:00 p.m. |
Networking Reception at The Lone Star Palace |
TUESDAY, MAY 21
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7:00 a.m. – 8:00 a.m. |
Breakfast |
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8:00 a.m. – 9:00 a.m. |
Financial Reporting and Accounting Update |
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9:00 a.m. – 9:10 a.m. |
Break |
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9:10 a.m. – 10:10 a.m. |
Theft Hurts, but Operational Shrink Kills |
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10:10 a.m. – 11:10 a.m. |
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11:10 am. – 11:20 a.m. |
Break |
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11:20 a.m. – 12:20 p.m. |
Breakout Sessions
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12:20 p.m. – 1:45 p.m. |
Lunch With Speaker |
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1:45 p.m. – 2:45 p.m. |
Breakouts
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2:45 p.m. – 3:45 p.m. |
Front End Auditing |
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3:45 p.m. – 4:00 p.m. |
Break |
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4:00 p.m. – 5:00 p.m. |
Keynote Session |
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6:30 p.m. – 9:30 p.m. |
WEDNESDAY, MAY 22
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7:00 a.m. – 8:00 am. |
Breakfast |
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8:00 a.m. – 9:00 a.m. |
Warehouse Auditing |
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9:00 a.m. – 9:15 a.m. |
Break |
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9:15 a.m. – 10:15 a.m. |
Direct Store Delivery |
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10:15 a.m. – 10:30 a.m. |
Break |
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10:30 a.m. – 11:30 a.m. |
Anti-Money Laundering and The Bank Secrecy Act: What You Need to Know to Stay Compliant |