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September 2014

Tuesday September 23, 2014
 
Importance of Good Internal Controls                    

Meeting Room Change

We will be meeting in a new room this month.

Enter using the Route 202 main front door.
Signs will direct you to our room.
1 Hr CPE - A&A

Rose Hartle, CPA -  Audit Partner - Baum, Smith, & Clemens LLP
Fred Foley, CAP - Partner - Baum, Smith, & Clemens LLP

In May 2014, the Committee of Sponsoring Organizations (COSO) released its updated guidance.  COSO is a voluntary private-sector initiative dedicated to improving organizational performance and governance through effective internal control, enterprise risk management, and fraud deterrence.  We will be discussing the five principles of the framework:

Control Environment

Risk Assessment

Control Activities

Information & Communication

Monitoring Activities

 and recommended best practices.  We will also be discussing statistics in regard to fraud, the profile of the fraudster, warning signs and some real case examples of fraud.

   

Rose Hartle
Rose’s experience encompasses a varied client base. Rose assists clients mainly in the accounting and audit section of the Firm's practice. Her audit experience includes manufacturing, construction, real estate with an emphasis on non-profit organizations. Rose works with closely held companies, employee benefit plans, and service organizations.   She helps clients on tax reporting and year-end tax planning.   Rose is a member of the Firm’s Not for Profit Services and Fraud Niche Groups.  As the concurring reviewer for the firm’s quality control team, Rose ensures that the firm follows reporting guidelines and standards.
 

Rose has been working in public accounting for over 25 years. Rose received her BS in Accounting from Bloomsburg University of Pennsylvania. She is a member of the American and Pennsylvania Institutes of Certified Public Accountants.

 

Rose has served on the Philadelphia Chapter PICPA Committee for Social Responsibility. She is currently a Board Member of A Woman’s Place, serving on the finance committee and executive committee.  Rose is also an active member of the Souderton-Telford BPW. Rose and her family live in Towamencin Township.

 

 

Fred Foley
Alfred (Fred) specializes in the manufacturing and construction sectors. Within the manufacturing realm, he works with closely-held businesses in planning throughout the year and implementing tax saving strategies. Using his industry knowledge, Fred has worked with clients in developing inventory valuation methods and other costing applications. For his construction clients, Fred provides assistance on project financing, job costing, cash flow projections, and investment decisions. He is a member of the Firm’s Manufacturing and Construction Services Niche Groups.  Fred emphasizes the importance of planning, not just for the present, but also for the future.  Assisting clients in achieving their goals makes for a successful long-term relationship.

 

Fred joined the Firm in 1984. He received his BS in Accounting and MBA in Finance from Villanova University. Fred is a member of the American and Pennsylvania Institute of Certified Public Accountants.

 

Fred belongs to the Montgomery County Industrial Development Corp. (MCIDC). Through his years of involvement with Upper Moreland youth sports organizations, Fred helped provide youngsters with growth and character development through team sports. He brings this team concept with him to the workplace.