Patricia E. Scipio, CIA, CPA

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• Patricia E. Scipio, CIA, CPA
• Vice President, Auditing
• Wellchoice, Inc.
• Empire Blue Cross Blue Shield

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WellChoice, Inc.

• Parent Company of Empire Blue Cross Blue Shield
• Largest Health Insurance Company in New York
• Serves over 4.6 Million Members
• Began Trading on New York Stock Exchange on
  11/8/02
• 1 Market Share Largest Provider Network in
  Metro NYC
• Revenues of 4.6 Billion in 2001
• Highest Physician Auto-adjudication Rates
  Industry-wide
• Approximately 5,700 Employees

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WellChoice, Inc. - Corporate Audit

• VP Auditing Reports Functionally to Chairman of
  the Board, Administratively to Chief Executive
  Officer
• 3 Groups
• Corporate Performance
• Customer Audit Services
• Internal Audit Services
• Internal Audit Services Outsourced
• Coordinates with External Auditors

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Disclosure Controls Procedures

• Form a Disclosure Review Committee
• Obtain Meaningful Input from Outside Experts
• Evaluate Disclosure Controls Procedures
• Read the Reports
• Review with Audit Committee
• Document Actions Taken
• Address Problems Promptly

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Disclosure Review Committee

• Under the Supervision of the CEO CFO
• Membership
• Principal Accounting Officer or Controller
• General Counsel or Other Senior Legal Official
• Principal Risk Management Officer
• Chief Investor Relations Officer
• Responsibilities Procedures
• Confirm Adherence to Policies Procedures
• Review SEC Rules
• Implement Sub-certification Process
• Review SEC Filings and Other Documents for
  Accuracy and Completeness

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Internal Auditings Role

• Ex Officio Member of Disclosure Review Committee
• Review and Evaluate Disclosure Controls
  Procedures
• Review all SEC Filings Other Documents
• Coordinate Internal Control Reporting under
  Section 404