1. The Sherwin-Williams Company Internal Audit & Loss Prevention
Greg Schillo
-Field Audit Supervisor-Eastern Division

2. Company Overview
In business since 1866, SW has been in operation for 139 years.
Over 25,000 employees.
In 2005, sales rose to over $7 billion.
More than 3,000 automotive, paint stores and chemical coatings stores Worldwide.

3. The company is comprised of 3 Operating Groups, a Corporate Division:
Company Structure
The company is comprised of 3 Operating Groups, a Corporate Division:
Corporate
Paint Stores Group
Consumer Group
Consumer
Diversified Brands
Wood Care
Global Group
Automotive Division
Chemical Coatings Division

4. Corporate
Comprised of many departments that are common across all operating divisions and business units.
In some instances (i.e. Fixed Assets, Accounts Payable), the systems are Corporate based; however divisions are responsible for day to day activities.
Departments Include:
Human Resources • Accounts Payable • Audit & LP
Purchasing • Accounting • Tax
Safety • Fixed Assets • Environmental
Legal • Real Estate • Risk Management

5. Internal Audit & Loss Prevention
Comprised of:
Field Audit
Consists of a Manager, four Field Audit Supervisors, two Senior Zone Supervisors, two Analysts, and approximately 50 Field Auditors
Corporate Audit
Consists of approximately 22 auditors throughout Corporate, IT, and International.

6. Department Structure
                                                                                                                                                                                                         

7. Department Structure

8. General Responsibilities
The Company maintains an Internal Audit Department
means of providing all levels of management with information to better control operations.
Internal auditing is an independent review and appraisal activity assigned the responsibility to audit all activities of the Company as a service to management.

9. Department Functions Why we audit:
To ensure compliance with Company and Division policy and procedure, as well as GAAP
To ensure accuracy and integrity of Company financial records, and that proper support exists
To safeguard assets
To act as deterrent to potential irregularities
Ensure Division employees are knowledgeable
Be “eyes and ears” of top management
Determine variances
Take an independent point of view on Company operations

10. Department Functions Who we audit:
Company operations, not personalities/individuals
Deficiencies may be the responsibility of the District Manager, Distribution Center, landlord, plant, Division office, as well as store Manager.

11. Department Functions When we audit: Surprise basis
Stores have no chance to hide things
Enables auditors to evaluate appearance from customer’s perspective
Determine that operating procedures are complied with on a timely basis
To act as a deterrent to potential irregularities.

12. Training 7 Week Training Program
Eight day Orientation at Headquarters in Cleveland, OH
2 weeks with 2 different training auditors located across the country.
½ the audit in 1st two weeks, ½ the audit in 2nd two weeks.
Very intense and in depth
Evaluated at end of each session
One week audit by self with no trainer, but one day visit from Supervisor.

13. Benefits of Field Audit
Travel
Relocation
Self Satisfaction
Knowledge of the business
Positively impact business processes
Part of continuous improvement
Opportunities for advancement
Independence
Teamwork

14. We will be on campus for interviews:
Interviewing
We will be on campus for interviews:
March 2006*
*Exact Date TBD in 2/06.

15. Careers Field Auditor Analyst
Senior Field Auditor / Field Audit Supervisor
Senior Zone Supervisor
Field Audit Manager
Field Auditor
Corporate Auditor
Field Audit Supervisor
Any other Accounting / Finance positions the company has to offer.

16. Conclusion
Questions?
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