GEORGE E.

BAYIDES, CIA
Framingham, MA.01701
Telephone: 1-917-374-1827 Email: geobayides@aol.com

Construction / Consulting Engineering / and Industrial Manufacturing Audit Executive

PROFILE
Background includes internal audit management and controllership experience for regions and divisions of
multinational companies in the construction/consulting engineering, and industrial manufacturing industries.
Hands on experience includes establishing and managing project based financial reporting systems and providing
a practical risk based internal audit function for multinational firms.

PROFESSIONAL EXPERIENCE
PARSONS BRINCKERHOFF, INC. Boston, MA.
($2.0 billion international transportation infrastructure consulting engineering firm)

2006 to April 2015

Vice President and Global Director of Internal Audit

Appointed to the current position from Internal Audit Manager reporting to the Parsons Brinckerhoff Audit
Committee responsible for enhancing the audit activities to include a risk-centric audit approach focusing on the
control environment surrounding project financial reporting, organizational processes, and ethics. Improved audit
skills of staff to include reviews of grey areas such as project forecasting/estimates, percentage completion
revenue, procurement, joint venture activities, contract/subcontract administration, and FAR compliance. Audit
experience includes managing, training and supervising a decentralized global audit staff in identifying audit risks
and areas of fraud. Personally conducts occasional audits of difficult projects where a large element of risk may
exist. Develop and co-ordinate the annual audit plan with company executives of various parts of the business.
Manage Co-sourcing partners utilized by the organization.

Enhanced the awareness level of I/A within the organization to be viewed as a facilitator for assisting
Operations resulting in increasing audit requests from management.
Identified issues requiring Audit Committee intervention and corrective action involving FCPA, money
laundering, false billings and conflict of interest incidents
Selected by management to participate and conduct in due diligence reviews relative to two potential
acquisitions
Assigned to S. Africa in a controllership capacity to improve business processes and monthly
financial reporting for power and infrastructure construction projects in the region.

XERIUM TECHNOLOGIES, INC. Westborough, MA

($600+ million global industrial manufacturer of roll covers for the pulp and paper industry)

2003 to Jan 2006

Internal Audit Manager

Established and managed the Internal Audit function for the companys global manufacturing operations reporting
directly to the Audit Committee with dotted line responsibility to the CFO. Implemented the companys Sarbanes
Oxley testing program and developed a risk assessment plan for linking the annual audit plan to the
organizations corporate risk profile. Hired, trained and supervised overseas staff.
Self initiated the development of a company code of business conduct and internal control self
assessment program implemented globally throughout the organization.
Enhanced revenue controls associated with the companys revenue recognition process at a foreign
subsidiary.
Revamped controls associated with the capital authorization process as a result of fraudulent
reporting and implemented a guest auditor program.

IONICS, INC. Watertown, MA

2001 to Dec 2002
($500+ million manufacturer of water purification systems for industrial, and consumer use, acquired by GE)

Group Controller
Supervised finance personnel in seven subsidiaries, responsible for P&L analysis, overseeing division budgets
(operating and capital), and financial reporting (consolidated statements), cash flow forecasts and price proposal
reviews. Assisted the Internal Audit function with conducting audits of other business units.

Delivered consistent and timely consolidated financial reporting by establishing financial reporting
and budgeting templates for foreign and domestic subsidiaries, reduced financial reporting timeframe
from quarterly to monthly reporting.
Resolved intercompany account differences totaling more than $1 million.

Divested/sold company interest in a foreign subsidiary minimizing losses by 30%.

Saved $1.5 million in foreign taxes restructuring intercompany cross-border agreements.

STONE & WEBSTER ENGINEERING CORPORATION Boston, MA

1977 to Dec. 2000
(International construction and engineering services firm with $2+ billion in annual revenues)

Regional Controller - Kuala Lumpur, Malaysia and Jakarta, Indonesia-(1991-2000)

Selected by executive management to undertake an overseas assignment and establish a financial reporting
infrastructure for projects in the Asia Pacific region. Provided monthly financial statements for contracts ranging in
value up to USD 300 million and provided oversight of commercial functions pertaining to treasury, taxes,
insurance, HR and IT in the Asia Pacific region. Recruited and trained local staff, and teamed with operations
personnel in establishing guidelines, reporting standards and internal controls and advising local management on
commercial business matters. Supervise 10 direct reports in 7 countries.
Reviewed project cost estimates and the associated revenue recognition with project managers for various
construction projects utilizing percentage of completion. Resolve local tax questions and issues pertaining to
foreign subsidiaries. Appointed Assistant Country Director Indonesia overseeing all operations and joint
ventures in the region.

Established and managed a financial function from the ground up to handle all financial and
commercial matters for the region including financial statement and footnote preparation,
establishment of project financial reports and managed external audit of foreign subsidiaries.
Obtained a $1.8 million tax refund from a foreign taxing authority and restructured intercompany
agreements saving approximately $500K in foreign taxes.
Assisted in the developing contracting strategies and transfer pricing practices to maximize project
contract revenues.

Education / Certification
SUFFOLK UNIVERSITY BOSTON, MA B.S., Business Administration, Accounting
Certified Internal Auditor - Institute of Internal Auditors
Certified Construction Auditor -National Association of Construction Auditors