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  December 11, 2007

Webinar Series:
Achieving the Modern Fast Close: Renewing your Close, Consolidate, Report Process for Performance Insight and Impact

Part 3: Ensuring Best Practices for Internal Controls and Financial Consolidation
  • Thomas Willman, Program Leader, Account-to-Report and Enterprise Performance Management Advisory Programs, The Hackett Group Learn More
  • Michael Leech, Consultant, Enterprise Applications, Deloitte Learn More
  • Delbert Krause, Director, Product Marketing, Cognos Learn More
  • Ensuring Best Practices for Internal Controls and Financial Consolidation

    The close, consolidate, report process does not operate on data alone. People and process are critical intersection points. Absolutely essential to data quality and process control, internal controls form the backbone of the closing cycle. Renewing the consolidation process requires organizations to evaluate, incorporate and improve as necessary their internal controls for financial data. We will discuss and review the opportunity at hand as organizations improve their internal control environments in conjunction with automating financial consolidations.

    To begin this Webinar, The Hackett Group will present a contrast between World-Class and Peer Group companies in terms of their control environment and ability to manage compliance activities associated with Sarbanes-Oxley. You’ll be introduced to best practice usage (automation, standardization, integration), the volumes and types of controls implemented and the associated impact on the cost of compliance.

    Then, Deloitte will review best practices for Transforming your Financial Consolidations with the Deloitte Close, Consolidate, Report (CCR) Performance Blueprint. The CCR performance blueprint is a roadmap that guides organizational design for internal controls and the close process. You will see how the Deloitte Close, Consolidate, Report Performance Blueprint:

    • identifies opportunities to strengthen controls and increase your confidence in the CCR cycle
    • identifies the specific process and application controls that support CCR compliance objectives as defined by the COSO framework
    • enables clients to design and implement the appropriate application and process controls while implementing the Cognos Controller solution with Deloitte.

    About the Webinar Series

    It’s five years since Sarbanes Oxley became law, and for many organizations the goal of relevant, accurate, timely, auditable, controlled financial information remains elusive and out of reach.

    Surprising? Not when you look closely at the trends that prevent organizations from optimizing their financial consolidations:

    • The still-ubiquitous spreadsheet, preventing centralized management and process control.
    • First generation solutions, unable to support modern requirements.
    • A close process layered on by acquisitions, restructuring, and a host of source systems.

    This series is a step-by-step discovery of the benefits of renewing the close, consolidate, report process. We will engage thought leaders, industry experts, and customers throughout. Whether you are already resolving your financial consolidation issues or just embarking on your journey, this Webinar series will bring you valuable information to help you each step of the way.

    October 30, 2007
    Part 1:
    Delivering Financial Results: With or Without Spreadsheets - That is the Question
    November 13, 2007
    Part 2:
    Automating Financial Consolidation - The First, Best Step in Close, Consolidate, Report Makeover
    December 11, 2007
    Part 3:
    Ensuring Best Practices For Internal Controls and Financial Consolidation
    February 6, 2008
    Part 4:
    Performance and Compliance - Combining To Deliver Financial and Operational Insight
    March 4, 2008
    Part 5:
    Looking Ahead - Leveraging Financial Consolidation and Enterprise Planning
    • Controllers
    • CFO's
    • CIO's
    • VP's, Directors and Managers of Finance, Corporate Governance, Compliance, IT
    Tom Wilman
    Thomas Willman, Program Leader, Account-to-Report and Enterprise Performance Management Advisory Programs, The Hackett Group

    Mr. Willman is the Program Leader for The Hackett Group's Account-to-Report and Enterprise Performance Management Advisory Programs. He has over 12 years of finance, accounting and consulting experience across numerous industries. His experience has focused on helping CFOs and senior Finance executives to transform their organizations through the deployment of more efficient and effective processes, service delivery models and enabling technologies. Prior to joining The Hackett Group, Mr. Willman worked in Finance Transformation consulting with IBM Global Business Services and PwC Consulting. He also has several years of public accounting experience. He holds an MBA from Duke University, a BBA in Accounting from the University of Georgia and is a Certified Public Accountant in the state of Georgia.

    Michael Leech, Consultant, Enterprise Applications, Deloitte

    Mike is a consultant in Deloitte’s North American Performance Management practice. The focus of Deloitte’s Performance Management team is to work with finance teams to help drive organizational efficiencies and competitive advantage through improved performance management capabilities.

    Having implemented financial consolidation systems at several companies, Mike understands the people, process and technology challenges associated with Performance Management projects. Mike manages projects with a focus on leveraging leading practices, defining requirements, controlling scope, and managing risks and change while delivering knowledge transfer to his client teams.

    Mike is a graduate of the University of Western Ontario where he specialized in finance and accounting. He is also a Certified Management Accountant (CMA) candidate.

    Delbert Krause, Director, Product Marketing, Cognos

    Delbert Krause is Director, Product Marketing, Performance Management Solutions at Cognos. Mr. Krause combines his formal education in finance and accounting along with 20 plus years experience in delivering performance management solutions supporting finance, business and IT users. He has worked in a variety of roles enabling customers achieve success across a broad range of solutions supporting performance management, from large international consolidations to enterprise planning and reporting applications. Mr. Krause's background includes formal training and experience in finance, working directly with customers and consulting, selling, and marketing performance management software solutions. Working with the Performance Management Solutions team at Cognos for the past 7 years, Mr. Krause's current responsibility is to help bring understanding to customers on the benefits of performance management and the role Cognos solutions play in delivering success.


    Cognos is the world leader in business intelligence (BI) and performance management solutions. We provide world-class enterprise BI, planning and consolidation software and services to help companies plan, understand and manage financial and operational performance.

    Cognos brings together technology, analytical applications, best practices, and a broad network of partners to give our customers a complete performance solution. We provide an open and adaptive solution that leverages an organization's ERP, packaged applications, and database investments.

    We give customers the ability to answer the questions -- How are we doing? Why are we on or off track? What should we do about it? - and enable them to understand and monitor current performance while planning future business strategies.

    Cognos serves more than 23,000 customers in more than 135 countries. Our solutions and services are also available from more than 3,000 worldwide partners and resellers.

    Additional information about Cognos is available at: http://www.cognos.com/compliance/index.html

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