Cooperative Directors Audit Training
August 28, 2014 - Indiana Farm Bureau, 225 S. East St. Indianapolis, IN 46206 - Assembly Room 9:00 AM - 4:00 PM (317) 692-7200
MAC-Ed delivers the Cooperative Directors Audit Training course, which is targeted and specific to member needs. With the colossal meltdown of Enron and the Financial Crisis of 2009, Congress felt compelled to act to require “Best Practices” guidelines for accounting and financial professionals. The result was the Sarbanes-Oxley Act, which re-wrote the accounting standards for investor-owned businesses and cooperatives, alike. The Dodd-Frank Act overhauled the regulatory standards for financial institutions and significantly influenced the fiduciary responsibilities of boards of directors. The Dodd- Frank Act now requires audit training for directors who lead the audit functions for their board, or serve on the Audit Committee. As a result of attending this training directors will gain a better understanding of their roles and responsibilities as audit committee members, gain knowledge to avoid common pitfalls facing cooperatives and the audit process, and improve the performance of their audit committees and the co-ops they serve.
The Sarbanes-Oxley Act
The Sarbanes-Oxley Act of 2002 is mandatory. ALL organizations, large and small, MUST comply. The legislation came into force in 2002, and introduced major changes to the regulation of financial practice and corporate governance. Named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architects, it also set a number of deadlines for compliance. To assist those seeking to meet the demands of this act, this training course will cover the key Sarbanes-Oxley sections of the legislation.
The Dodd–Frank Wall Street Reform and Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act is a compendium of federal regulations, primarily affecting financial institutions and their customers, that the Obama administration passed in 2010 in an attempt to prevent the recurrence of events that caused the 2008 financial crisis. The Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as simply "Dodd-Frank", is supposed to lower risk in various parts of the U.S. financial system. This training course will cover the various types of regulation covered by Dodd-Frank.
AGENDA
9:00 AM Welcome Rod Kelsay, MAC-Ed Inc.
9:15 AM What Co-op Directors Audit Sue Ulrey, CliftonLarsonAllen Auditing Duties of Every Co-op Board New Board-Staff Responsibilities
11: 15 AM Co-op Director Legal Overview Carolyn Eselgroth, Barrett Easterday Cunningham & Esselgroth
12:30 PM Agricultural Cooperatives’ Needs Mike Fleetwood, Blue & Company/Jeff Harr, Balestra, Harr & Scherer Internal Controls and Ongoing Audit Processes Data Security and Fraud Prevention Policies
1:30 PM Breakout Session: Exercises/Questions
2:30 PM Review of breakout session findings
3:15 PM Roundtable Discussion - Key Questions to Ask The Auditor
3:40 PM Wrap-Up and Adjourn
For registration, location and hotel information, please see the reverse side of this flyer. Thank You!
SPEAKER BIOS
Mike Fleetwood has 25 years’ experience in public accounting with Blue & Co., LLC. The majority of Mike’s experience has been serving closely-held corporations, agricultural cooperatives, and not-for-profit organizations. Mike serves as the audit engagement director for all of Blue & Co.’s agricultural cooperative clients. Mike consults with agricultural cooperatives on accounting, auditing, equity management, profitability, and other issues. Mike is a graduate of Indiana University and has served in a number of community leadership roles.
Sue Ulrey is CliftonLarsonAllen’s National Partner for Specialty Advisory Services, including Internal Audit, ERM, Quality Assurance Reviews, and IT Risk Assessments. She is a highly respected risk management professional with over 20 years of consultant and practitioner experience. Sue’s combination of internal audit, due diligence, ERM, SOX, organizational and process improvement knowledge and her previous experience as a CAE for a Fortune 100 Healthcare organization enables her to bring real life examples to the sessions, with practical guidance to inculcate into your organizational function.
Jeffrey A. Harr, CPA, graduated from The Ohio State University in 1978 with a BSBA and a major in accounting. Jeff is the firm's Director of Auditing and Quality Control and was employed for nine years as a senior audit manager with an international accounting firm. He has taught numerous auditing courses for the international accounting firm and Balestra, Harr & Scherer CPAs. During his career he has gained extensive experience in audits of all types of entities and non-profit organizations. He has also performed many peer reviews of other CPA firms in Ohio and other states.
Carolyn Eselgroth, Partner at Barrett, Easterday, Cunningham & Eselgroth LLP - Areas of Practice: Family Business Organization, Reorganization, and Dissolution Non-profit Trade and Agricultural Organizations Charitable Foundations Commercial Real Estate Transactions Probate & Estate Administration
PROGRAM REGISTRATION
Coop Name:______Address:______City:______State______Zip______Contact______E-mail______Phone______Fax______
List Participants Name & Email Address
1. Name______E-mail______2. Name______E-mail______3. Name______E-mail______4. Name______E-mail______5. Name______E-mail______
Registration Fees and Other Registration Options: Members: $225.00 Non-Members: $375.00 - Please send check with this form to MACC, 6302 Rucker Road Suite H, Indianapolis, IN 46220.
Register by email at [email protected] with name, co-op name and address, email and phone; and we will invoice you Register online at http://www.macc.coop
LODGING: Special Room Rate of $ 108.00 is available until 7/29/2014 at The Hampton Inn, 105 South Meridian Street, Indianapolis, IN 46225 (317) 261-1200; ask for MACC Cooperative Directors Audit Training.
If you have any questions regarding the program or program registration, contact MACC at (317) 726-6910.