24 Year Veteran CPA w/ Diverse Accounting, Audit & Finance Experience

Michael William Drake

**** ****** ****

Apex, North Carolina 27539 919-***-**** (Home and Cell)

EXPERIENCE

GSTechnical Services, Inc. (wholly-owned subsidiary of IBM), Raleigh, NC

Program Manager of Processes and Controls, (August 2007 – Present)

• Work with all process owners to design and document company processes and internal controls for this wholly-owned start-up venture of IBM

• Responsible for statutory registration matters of the company as it expands into new states

• Maintain corporate matters files of legal documents, filings, contracts, etc.

• Conduct proactive internal assessments/audits of company processes to identify areas for improvement

• Provide training on internal control topics to management and department personal

• Report to the CFO and coordinate special projects as requested

• Interface and work with internal company business controls assessment personnel in other departments

Nortel Networks, Research Triangle Park, NC, (August 2004 – July 2007)

Global Procurement Prime, February 2007 – July 2007

• Financial projects dealing with improvements to corporate cash flow, working capital initiatives, participation in significant procurement projects, and procurement data analysis

COSO Framework/Global Sarbanes-Oxley Support Prime, August 2004-January 2007

• Member of the Internal Controls Consulting Team of the Finance Transformation Initiative to implement a global finance system (SAP) along with standardized processes and internal controls

• Developed internal controls and Sarbanes-Oxley training for company employees

• Responsible for overall planning, coordination and delivery of the company’s assessment of entity level internal controls as part of the Sarbanes-Oxley Section 404 initiative

Michael W. Drake, CPA, PLLC, Raleigh, North Carolina, (April 2003 – August 2004)

Owner, April 2003-August 2004

Michael W. Drake, CPA, PLLC was incorporated in 2003 to deliver a wide range of audit and financial services to a company’s financial management. The range of contract services provided includes:

• The outsourcing of a full range of internal audit services

• Overall project management of company initiatives under Section 404 of the Sarbanes-Oxley Act to document and assess the effectiveness of internal controls over financial reporting

• Reviews of business processes and internal controls to identify ways to improve the overall efficiency and effectiveness of operations

• Management special projects including a wide range of accounting and financial services such as business planning and budgeting, financial modeling and forecasting, identification of business risks and critical success factors, set-up of financial records and reports design, development of policies and procedures and project management for company initiatives

BuildNet, Inc., Research Triangle Park, North Carolina, (July 1999 – March 2003)

Manager of Financial Reporting and Analysis, May 2001-March 2003

Project Analyst, July 1999-April 2001

• One of three employees requested to remain with the company to carry out the responsibilities of the Chapter 11 bankruptcy filed August 8, 2001

• Conducted special projects for the Chief Financial Officer, Vice President of Finance and Controller

• Developed financial models to forecast software and e-commerce revenue streams

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• Coordinated periodic updates of revenue projections with senior management

• Developed the company’s three-year budgeted financial statements

• Prepared monthly financial reports and operational analysis to evaluate performance against the Board of Directors approved plan

• Maintained books and records for multiple companies, completed month-end closing duties and prepared monthly financial statements

• Participated in company due diligence reviews

• Led the initiative to implement a corporate budgeting and forecasting system

• Developed corporate budgeting policies and processes for company management

• Participated in the development of a private placement memorandum for use in obtaining equity investment funding

Carolina Power & Light Company, Raleigh, North Carolina, (August 1988 – July 1999)

Project Leader-Integrated Financial Systems Project, February 1999-July 1999

• Member of the management team responsible for the successful and timely implementation of the Oracle financial suite to replace existing corporate financial systems

• Supervisory responsibility for ensuring that aggressive project milestones were accomplished on time and within budget

• Supervised project teams’ development of functional requirements for areas of responsibility

• Recruited project personnel for implementation teams

• Other system implementation management responsibilities including:

• Communication of project objectives and status to company personnel

• Timely resolution of identified project issues

• Review and approval of recommended solutions developed by project teams to address identified business needs. Proposed solutions were evaluated in light of generally accepted accounting principles and delivered Oracle system functionality in order to achieve project goals of financial compliance and overall cost effectiveness.

• Promotion of change management initiatives

Supervisor-Revenue Accounting, September 1997-January 1999

Overall responsibility for the operations of the Revenue Accounting Unit within the Accounting Department including:

• Internal and external reporting of corporate revenue to company management, the Board of Directors, regulatory bodies and the financial community

• Analyzed on an on-going basis the operational and environmental factors impacting sales to each major customer segment

• Led, supervised and professionally developed Unit personnel

• Successfully reorganized the Unit to better align work processes among company organizations

Project Auditor/Senior Auditor/Systems Auditor, Audit Services Department

August 1988-August 1997

• Planned, conducted and reported the results of integrated audits of company operations and contracts

• Developed and presented value-added recommendations to all levels of company management

• Supervised audit staff in all aspects of the audit process

• Managed audit scopes and budgets through effective project management skills

• Developed the infrastructure of the Audit Services Department in the following areas:

• Risk-based integrated audit process in accordance with the Committee of Sponsoring Organizations (COSO) guidance and generally accepted auditing standards

• Risk assessment methodology for selection of audit projects for the annual audit plan

• Employee performance management and development program

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• Developed the company’s approach for use of the Control Self-Assessment audit technique which consisted of the following activities:

• Defined the methodology for applying the audit technique within the company

• Led the implementation initiative by marketing the process to company management

• Trained audit personnel in the approach

• Developed the format, content and structure of a variety of workshop sessions

• Facilitated company workshops

• Consulted with company management to communicate workshop results and recommend corrective actions

Price Waterhouse, Norfolk, Virginia, (August 1984 - July 1988)

Senior Accountant, May 1988 - July 1988

Staff Accountant, August 1984 - April 1988

• Planned and conducted audits of a variety of organizations

• Supervised staff accountants in all aspects of audit fieldwork and reporting

• Conducted reviews of internal controls and provided recommendations to management

CERTIFICATION

• Certified Public Accountant (North Carolina and Virginia)

MEMBERSHIPS

• North Carolina Association of Certified Public Accountants

• The Institute of Internal Auditors

EDUCATION

• The University of North Carolina at Chapel Hill

Bachelor of Science in Business Administration, Accounting Concentration, May 1984

Graduated Phi Beta Kappa in the top ten percent of the Business School class

• Chowan College, Murfreesboro, North Carolina

Associate of Science in Business Administration, Accounting Concentration, May 1981

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