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Auditing for Profit


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                         Auditing for Profit

                                     Monday and Tuesday
                                           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

Registration ............. 8:00 AM to 8:15 AM
Presentation ............ 8:15 AM to 10:15 AM
Coffee Break ..........10:10 AM to 10:30 AM
Presentation ...........10:30 AM to 12:00 PM


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Gordon E. Smith. CMA
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

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.

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.

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This seminar is intended to inspire creative thought processes, audit innovation and staff

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:

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          plant & equipment
          fixed assets
          computer technology
          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 Costs (all prices include GST)
       Member ...........................$ 45.00 (ISACA or CGA Members only)
       Group rate of 5 or more .....$ 50.00 per person
       Non-Member ....................$ 55.00

Register for this Event

 If you require additional information, contact the Registrar

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

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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

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