Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

TO HELP AUDITORS COPE WITH THE ISSUES surrounding the explosive growth in information technology use, the ASB issued SAS no. 94, The Effect of Information Technology on the Auditor’s Consideration of ...

Can you assess risk management without considering related internal controls? I don’t think so. The relationship between risk (what might happen to affect the achievement of objectives) and internal ...

The majority of us come to work every day where operations run smoothly, missions are planned and executed and teams work together seamlessly. Now imagine just beneath the surface, risks are lurking ...

In response to a wave of fraud in the 1970s and 1980s, the Committee of Sponsoring Organizations, or COSO, in the U.S. commissioned a study to rethink the way companies look at internal controls. COSO ...

Internal controls are the rules, mechanisms, and procedures a company implements to ensure the integrity of its financial and accounting information, promote accountability, and prevent and detect ...

The mission of the College of Environmental Science and Forestry is to advance knowledge and skills, while promoting the leadership necessary for the stewardship of both the natural and designed ...

The American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

With all of the media coverage on the Sarbanes-Oxley Act, small-business owners might think that implementing an internal control is more expensive and troublesome than it is worth. While a small ...

Business owners are accustomed to dealing with risks. Most, if not all of them, understand the relationship between risk and reward. However, a second relationship is equally important: the ...