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The slides from Michael Cangemi’s CAE discussion at ISACA NJ are now available.

Click Here to Download the Presentation

Click Here for More Event Information

We are proud to announce that Michael P Cangemi CPA – Former Editor-in-Chief of the ISACA Journal 1987-2007 and recent COSO Board member has agreed to moderate the session. Michael wrote a popular book, Managing the Audit Function, based on his CAE experiences and went on to be a CIO, CFO, CEO and Board member. Chapter President, Andy Ellsweig, who helps lead Eisner’s Technology Audit & Advisory practice will serve as a co-moderator. continue reading…

Michael P. Cangemi to speak at the “Enterprise Continuous Controls Monitoring Conference 9-1-10. He will discuss his views on CM now and in the future!

Registration is FREE and will earn you 2.5 Continuing Education credits!

To register for the event, please click here: Register for Enterprise Continuous Controls Monitoring Conference Here!

If you would like more information on the event hosts, The Controls Institute, click here.

Event Information is listed below: continue reading…

INTERNAL AUDIT’S ROLE IN CONTINUOUS MONITORING
MICHAEL P. CANGEMI
Published in the EDPACS April 2010 Newsletter
Download a PDF of the article here

Continuous Monitoring (CM) is an evolving use of technology to improve operations integrity and information and transaction quality. This article pleads for internal auditors to promote the expanded use of continuous monitoring by operations, as well as, internal audit. continue reading…

FOR IMMEDIATE RELEASE

CONTACT:  Michael P. Cangemi

(732) 662-4868
mpcangemi@msn.com

Marc I. Cangemi
(848) 391-8607
marc@lbifoodies.com

Cangemi Company LLC launches new internet marketing business – www.LBIFoodies.com

Click Here to Download a PDF of the Press Release

Cangemi Company LLC (CanCo) is very proud to announce a new business division, operating under the registered name LBI Foodies,  was launched in May 2010. The business was conceived of and developed by Marc I. Cangemi. Marc recognized a need for local internet marketing among the businesses of the resort area Long Beach Island, NJ, (LBI). Using the interest in restaurants to drive web traffic, he built an internet business model supported by advertising revenues.

The web site, www.lbifoodies.com, lists restaurants on LBI by locations and has extensive search capabilities. Users benefit from the ability to locate restaurants and related information, rate them and write their own reviews. They can better plan their LBI vacations with ubiquitous access any day or hour, 365 days a year even if they are far from LBI. The site has been fully integrated with social media outlets like Facebook and Twitter for users to share and comment on restaurants. Since the site is specific to the LBI Region, visitor retention and loyalty is very high.

Restaurants and advertising customers benefit from the site providing exposure of their business to visitors before they arrive and during their stay. The goals of the site include helping all LBI businesses grow and to extend their pre and post peak season business. Through an advanced online targeted marketing campaign, we are able to help the right people find our site quickly.
CanCo President, Michael P Cangemi, commented as follows: ” I am very happy to report the business is off to a great start, and it is truly a pleasure to see the large interest from the restaurant owners and customers who are eager to advertise on the site which validates the business need and model” He went on to say, “More importantly Marc is enjoying the entrepreneurial experience, making LBI Foodies a labor of love!”

CanCo Vice President, Marc Cangemi said, “Local business is at the heart of this entrepreneurial pursuit. The lifeblood of the US economy is small business. In the online market, small businesses are at a disadvantage. National websites with restaurant listings have national advertising campaigns, even for localized searches. LBIFoodies.com addresses this need by providing an opportunity for small business owners to compete in a targeted and trackable manner.”
LBIFoodies.com can help expand the market and season. Long Beach Island is not just beautiful in June, July and August. It has positive attributes all year. The online marketplace has no season, and it is the goal of LBI Foodies to translate that into more visitors to LBI year round. Leases, overhead and fixed costs don’t leave with tourists in September. If businesses’ doors are open we will try to bring people to them. If they are not, we will get consumers notified on when they will be opened before they plan their first trip down.

LBI Foodies clients currently include: The Engleside Inn, Fantasy Island, The Chicken or the Egg, Stefano’s Seafood, Blue Water Cafe, Susie Anderson (an Agent of Diane Turton), Watersports of LBI, Pinziminio Trattoria, California Grill, The Dockside Diner, Ocean Family Dental, Preston-Patterson Insurance and TGI Friday’s of Manahawkin.

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About Cangemi Company LLC –   canco.us or cangemicompany.com

Cangemi Company LLC is a media and advisory firm with a focus on business growth, strategic planning and governance. CanCo was founded by Michael P. Cangemi and Ignatius Cangemi in 1967, as a family investment company. In 1987 Michael began adding media projects, including publishing and presentations, creating the MC Communications Division. Michael a CPA, is the author of Managing the Audit Function and was the Editor-in-chief of IS CONTROL Journal from 1987-2007.

Beginning in 2004 CanCo was expanded to add professional advisory services. These services draw on Michael’s significant experience as a public accountant, CPA, and corporate manager in industry where he held the positions of Chief Financial Officer and Chief Executive Officer and Director of Etienne Aigner Group and Financial Executives International. In 2010 a new era of the firm was started with the founding of LBIFoodies.com by Marc I Cangemi.


About Marc I Cangemi

Marc is a Vice President of CanCo providing operations and technical support as well as advisory and media services to clients. He graduated from Villanova University in 2006 where he received two degrees, a BS in Accountancy and BBA in Management Information Systems, both with honors. He joined Ernst & Young in 2006, where he worked as a Senior Accountant on clients ranging from Louis Vuitton to The Julliard School. He received his CPA certification and license from New York State in 2008 and was featured on the cover of BusinessWeek (September 15, 2008) as a representative of Ernst & Young, which was ranked the number one Best Place to Launch a Career.
In 2009 Marc left Ernst & Young to-co launch and help develop an Internet Advertising Firm, Dreamscape Marketing, with a classmate from Villanova. Dreamscape Marketing is dedicated to helping small businesses obtain corporate marketing and web development services at affordable prices.

Click Here to Download a PDF of the Press Release

As the recession grinds on what should internal auditors be doing differently?

Click here for presentation slides!

This was the theme of a keynote I presented on March 17, 2010, titled: Economic Crisis- Auditors Evolving Role. As a former CAE, CFO and CEO, I implored the over 150 internal auditors to put themselves in their management’s position. Audit and compliance costs (internal and external) have doubled in the past 8 years. Be assured, this increase has management’s attention!

The recession has put pressure on revenues and companies are responding by cutting costs. IA needs to find ways to reduce compliance costs while expanding coverage. I proposed two, low cost high imagination, solutions. Outsourcing aspects to IA to lower cost countries and using automation through continuous monitoring of controls CCM.

I discussed the trend of business process outsourcing (BPO) of for example, payroll, payables and recently accounting and mail room functions, to countries such as Costa Rica and India. As for CCM, I suggested IA should be recommending it to operations, as a way to build in compliance integrated right into the systems. IA is in a perfect position to identify CCM applications which should reduce cost overtime, expand compliance coverage and save audit time as well.

I quoted Oversight Systems President Patrick Taylor, “ No business process works perfectly. The sooner an error is identified and corrected the better.”  IA should continue to use continuous auditing (CA) to automate the audit process but these concepts (use of automation to drive down costs and expand coverage) should be driven throughout the organization, with CCM.

Another post credit crisis issue is the push to involve IA in ERM. My advice was to set the IA Charter very carefully when it comes to ERM. IA can be a factor but is not in the Board room where most major risks are assumed.

Click here to Register!

We are please to announce Michael P Cangemi CPA will be presenting a keynote at the IIA 2010 Mid-Atlantic District Conference – Fraud, Financial Crisis, and Fundamentals – Adapting to Today’s Changing Environment! In addition he will be moderating a panel of Chief Audit Executives (CAEs). continue reading…

Click below to listen to the radio interview from 12/3/2009:

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the-new-normal-11-10-color How business should respond to the recovering recession and changes to healthcare, banking and real estate strategies. Come to ask our professional panels your questions!

The post credit crisis has resulted in a lingering recession, with lower consumer spending, greater savings and tight credit. In reaction federal and state governments are expanding regulations, providing incentives and proposing once in a generation changes to taxes and medical coverage programs. These changes will have a significant impact on businesses of all sizes and you need to stay informed to adjust your business plans.

Click here to read the article.

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