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Published byJocelyn Patterson Modified over 9 years ago
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Patricia E. Scipio, CIA, CPA Vice President, Auditing Wellchoice, Inc. Empire Blue Cross Blue Shield
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WellChoice, Inc. Parent Company of Empire Blue Cross Blue Shield Largest Health Insurance Company in New York Serves over 4.6 Million Members Began Trading on New York Stock Exchange on 11/8/02 #1 Market Share & Largest Provider Network in Metro NYC Revenues of $4.6 Billion in 2001 Highest Physician Auto-adjudication Rates Industry-wide Approximately 5,700 Employees
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WellChoice, Inc. - Corporate Audit VP Auditing Reports Functionally to Chairman of the Board, Administratively to Chief Executive Officer 3 Groups –Corporate Performance –Customer Audit Services –Internal Audit Services Internal Audit Services Outsourced Coordinates with External Auditors
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Disclosure Controls & Procedures Form a Disclosure Review Committee Obtain Meaningful Input from Outside Experts Evaluate Disclosure Controls & Procedures Read the Reports Review with Audit Committee Document Actions Taken Address Problems Promptly
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Disclosure Review Committee Under the Supervision of the CEO & CFO Membership –Principal Accounting Officer or Controller –General Counsel or Other Senior Legal Official –Principal Risk Management Officer –Chief Investor Relations Officer Responsibilities & Procedures –Confirm Adherence to Policies & Procedures –Review SEC Rules –Implement Sub-certification Process –Review SEC Filings and Other Documents for Accuracy and Completeness
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Internal Auditing’s Role Ex Officio Member of Disclosure Review Committee Review and Evaluate Disclosure Controls & Procedures Review all SEC Filings & Other Documents Coordinate Internal Control Reporting under Section 404
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