A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.

Internal controls are defined broadly as the measures an organization takes to protect life and property. Ranging from physical security and access controls to rules of conduct and procedure, internal ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

In its most recent guidance for compliance with Sarbanes-Oxley section 404 requirements for smaller entities, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has provided ...

Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

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 ...

Drexel University is an institution that provides high-quality education, research and service; to ensure high standards are met, it is important that there be adequate systems of control and ...

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 ...

Discover the role of independent auditors in protecting investors, enhancing company processes, and ensuring accurate ...

Based upon input from the Internal Audit Committee, executive management, and the UT System Audit Office, an annual audit plan is developed that contains the scheduled projects for the upcoming fiscal ...

The audit found widespread control gaps, delayed processing, and weak automation in duty drawback administration. These deficiencies exposed the exchequer to significant revenue ...