opening and closing conference · pdf filefebruary 2009 cast - opening and closing meetings 3...

Essilor of America

Audit and Consulting Services

Opening and Closing Conference Strategies

Dallas IIACore Audit Skills TrackFebruary 5, 2008

Chris Desjardins

CAST - Opening and Closing Meetings 2February 2009

IntroductionChris Desjardins Director of Audit and Consulting ServicesEssilor of America

20 + years6 employers4 continents

It’s all about people. - Len Mullen, GSX

CAST - Opening and Closing Meetings 3February 2009

Audit and Consulting ServicesMission Statement

… to provide solution-oriented assurance and advisory services to support stakeholders and executives within North America in the evaluation of business risk, the achievement of operational objectives and the discharge of their stewardship responsibilities to shareholders.

CAST - Opening and Closing Meetings 4February 2009

Opening and Closing Meetings

Professional Standards2200 develop a plan2210 objectives should be established2400 communicate engagement results

Little guidance on meetings.

CAST - Opening and Closing Meetings 5February 2009

Opening and Closing MeetingsTextbook

Auditors use … memoranda for … preliminary communication. … also telephone or visit with auditee management. The internal auditor should discuss conclusions and recommendations … before issuing final reports.… it is essential that auditors establish constructive relationships with other people in the organization. The best way to ensure effective communication is to plan encounters and to be aware of the communication process as these exchanges develop.

INTERNAL AUDITING Principles and Techniques- Ratiff, Wallace, et. al.

CAST - Opening and Closing Meetings 6February 2009

Opening Meeting –Objectives

CAST - Opening and Closing Meetings 7February 2009

Opening Meeting –Objectives

Manage ExpectationsExplain the Audit ProcessObtain Management Buy-inAddress Protocol Items(Follow-up on) Document Requests

Auditors audit every day, auditees get audited only every five years.

CAST - Opening and Closing Meetings 8February 2009

Opening Meeting –Attendees

Process OwnerAll AffectedAuthority FigureSponsor ?? Others

CAST - Opening and Closing Meetings 9February 2009

Opening Meeting –Agenda

Audit Objective and Scope Audit Process Closing Meeting (discuss and schedule)Define Communication LinesRequests for Documents, Resources, Personnel, etc.

CAST - Opening and Closing Meetings 10February 2009

Opening Meeting –Agenda (cont’d)

Auditee EducationAudit ProcessInternal ControlsCorporate PoliciesSarbanes Oxley

Issues and Concerns

CAST - Opening and Closing Meetings 11February 2009

Closing Meeting –Objectives

CAST - Opening and Closing Meetings 12February 2009

Closing Meeting –Objectives

Accomplish ACS MissionAgree on Facts Agreement on RecommendationsObtain Mgt Response and Action Plan Obtain Commitment Facilitate Report ProcessNo surprises

CAST - Opening and Closing Meetings 13February 2009

Closing Meeting –Attendees

Limit NumberDecision Making AuthorityProcess Owner Knowledge of Procedures / SystemsLine ManagersProcedure Writer

Invite the right people. How many is too much ?

CAST - Opening and Closing Meetings 14February 2009

Closing Meeting –Agenda

Introduction of ParticipantsThank YouReporting and Follow-up Process Overall ConclusionFindings Open Items / Next Steps++

CAST - Opening and Closing Meetings 15February 2009

Closing Meeting –Timing

Evening Before / Last Day AM Ample Time for Discussion. Time for Follow-up. Shorter = Better

‘So, when’s your plane?’

CAST - Opening and Closing Meetings 16February 2009

Closing Meeting –Considerations

Rehearse PresentationThink from Auditee’s ViewpointAnticipate Responses

Added Value Recommendations Who Talks and Presents

Exposure for StaffAllows for Escalation

CAST - Opening and Closing Meetings 17February 2009

Closing Meeting –Considerations

Food Donuts and Coffee in AMOver Lunch Prep over Dinner

Discuss / Forward Findings in AdvanceGet Response Ahead Loyalty to Own Management

CAST - Opening and Closing Meetings 18February 2009

Closing Meeting –Considerations

Start with Chit-ChatSeating

We / TheyRound Table

SiteTheirs / Ours / NeutralAway from Distractions

CAST - Opening and Closing Meetings 19February 2009

Closing Meeting –Considerations

Food Donuts and Coffee in AMOver Lunch Prep over Dinner

Discuss / Forward Findings in AdvanceGet Response Ahead Loyalty to Own Management

CAST - Opening and Closing Meetings 20February 2009

Closing Meeting –Considerations

Judicious IntimidationHighlight PositiveDress Code

“When in Rome …Power Clothes FragrancesHygiene

CAST - Opening and Closing Meetings 21February 2009

Closing Meeting –Considerations

Communication MediaPaper – FindingsPaper – ReportPresentationProjectorWeb-Ex Conference

Auditee Input into Recommendations

CAST - Opening and Closing Meetings 22February 2009

Closing Meeting –Considerations

Discuss Risk and ExposureValue in DollarsDefine Population Risk and ConsequenceCost / Benefit

Approach as Sales Meeting Negotiation

CAST - Opening and Closing Meetings 23February 2009

Closing Meeting –Considerations

AuthorityAuditeeAuditor

Order of FindingsFocus on AcceptanceThrowaways Never, EVER Give in on the First Point

Emotional Arguments

CAST - Opening and Closing Meetings 24February 2009

Closing Meeting –Considerations

Know When the Discussion EndsLanguage / Wording

Do Not EmbarrassDo Not Editorialize Precision in Findings

Auditee Signs Off on Findings

CAST - Opening and Closing Meetings 25February 2009

Closing Meeting –Considerations

Encourage Questions / Dialogue Leave No Questions Unasked Take Advantage of Meeting

Auditee Signs Off on Findings +++

CAST - Opening and Closing Meetings 26February 2009

Contact Information

Christian P. DesjardinsDirector - Audit and Consulting ServicesEssilor of America13515 North Stemmons FreewayDallas, Texas 75234972.764.1299

cdesjardins@essilorusa.com