Management School

DERRICK S. SMEDLEY

**** ******* ******* *** ( Mableton, Georgia 30126

404-***-**** (C): 770-***-**** (H) ( **************@*****.***

CONTRACT AUDITOR

Analytical and detailed audit management professional with demonstrated

expertise in streamlining and improving the audit function. Adept at

teaming with all levels of management to set goals, define projects, and

align the audit process with corporate objectives. Passionate, committed

manager and independent thinker who brings innovation and resolutions to

processes for optimum impact. Areas of expertise:

Audit Management ( Annual Audit Work Plans ( Financial Statements Analysis

( Change Management ( Regulatory and Grant Compliance ( Generally Accepted

Government Auditing Standards ( Audit Project Development ( Enterprise

Risk Management ( Audit Report Writing ( Financial & Performance Audits (

Staff Training ( Team Leadership ( Generally Accepted Accounting Principles

( Fraud Investigations

PROFESSIONAL EXPERIENCE

GEORGIA ENVIRONMENTAL FINANCE AUTHORITY (GEFA), Atlanta, Georgia ( 2009 -

2013

State agency that provides government funded low-interest loans to cities,

counties, and infrastructure authorities for improvements to water, sewer

and solid waste systems.

Auditor/Fiscal Monitor, American Recovery and Reinvestment Act (ARRA)

Responsible for providing audit services in the following areas: validating

the accuracy of information reported by subrecipients and vendors;

developing and managing Single Audit programs for multiple federal grant

awards; reviewing subrecipient and vendor invoices in detail to mitigate

potential risk for fraud, waste, and abuse; conducting routine site visits

to subrecipient and vendor locations to review financial records; issuing

audit reports after each site visit detailing findings and recommendations,

technical assistance and improvement measures for subrecipients and

vendors.

Selected Highlights:

. Developed and implemented a fiscal monitoring process for GEFA to support

management of the American Recovery and Reinvestment Act $125 million

Weatherization Assistance Program.

. Designed and developed policies and procedures for the ARRA fraud, waste,

and abuse hot line.

. Evaluated internal controls and business processes regarding the

completeness and accuracy of ARRA program accounting data.

. Conducted training workshops for community action agencies which focused

on methods and approaches to improve internal controls and program

management of federal funds.

. Investigated allegations of fraud, waste, and abuse of ARRA program

funds.

FULTON COUNTY SCHOOL SYSTEM, Atlanta, Georgia ( 2006-2009

Fourth largest school system in the state of Georgia.

Director, Internal Audit

Responsible for managing internal audit and investigation activities.

Obtained information from senior management, audit committee members, along

with functional area risk assessments to create annual audit work plans.

Finalized audit reports and reviewed audit working papers. Conducted

quarterly meetings with audit committee members to provide updates and

status on audit projects. Worked with school management to resolve audit

findings and supported efforts which focused on implementation of proactive

corrective action plans.

DERRICK S. SMEDLEY ( Page 2 ( **************@*****.***

Selected Highlights:

. Re-engineered the audit approach to focus on federal/state program

compliance requirements and departmental financial internal controls.

. Implemented an independent internal audit function which reported to the

Audit Committee.

. Improved public disclosure by designing and implementing a comprehensive

audit report format which expanded a one page summary report to a

detailed report of 15-20 pages.

. Developed annual audit plans based on Enterprise Risk Management

framework.

. Established work processes that elevated the audit function and

implemented routine audit disciplines which included the practice of

issuing auditee engagement letters, scheduling entrance meetings,

defining specific audit objectives and scope of work based on business

activity risk assessment.

LOS ANGELES UNIFIED SCHOOL DISTRICT, Los Angeles, California ( 2000-2005

Second largest school system in the nation with a general fund budget over

$11B.

Audit Supervisor

Supported audit department management with planning and supervision of

school site audits, federal/state education programs, and school district

financial and performance audits. Supervised staff auditors in the

performance of audit projects. Worked with Audit Managers to define audit

project scope, objectives, and time frames. Collaborated with audit team

members to develop audit program steps. Conducted entrance meetings with

auditees to communicate audit scope, objectives, audit process, and all

related activity. Supervised projects and ensured budget timelines were

met. Reviewed/approved audit working papers. Conducted audit exit meetings

to discuss audit findings and solution oriented recommended actions.

Selected Highlights:

. Expanded verification testing for the $230M annual free/reduced meal

program. This enhancement determined student eligibility more accurately

which in turn improved the accuracy of federal and state reimbursement

funding.

. Provided guidance on refining the change order process for a $20B school

construction program to more accurately identify root causes for change

order requests; thereby significantly improving the level of accuracy

when identifying the entity responsible for paying additional costs to

complete school projects.

. Ensured continuation of a $10M/year Community Based English Tutorial

program by recommending program management to obtain required

reimbursement payment documentation necessary to validate the accuracy

program funding.

RAYTHEON COMPANY/HUGHES ELECTRONICS CORPORATION, Long Beach, California (

1984-1999

A world leader in defense electronics and aerospace communication and

intelligence systems.

Corporate Auditor

. Teamed with audit department personnel to develop audit processes

supporting efforts to re-engineer the internal audit function by

implementing risk assessment methodologies and COSO's internal control

framework.

Selected Highlights:

(Full details on request)

EDUCATION

Bachelor of Science in Business Accounting

University of Southern California, Los Angeles, California

PROFESSIONAL DEVELOPMENT

UCLA Executive Management Program

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