Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

The processes you use to order merchandise for your company are vital to control risks, prevent fraud, ensure maximum savings and maintain regulatory requirements. You should develop a checklist to ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Big Data is powerful. It can also be daunting. The current data analytic landscape focuses on the use of “scripts” that can identify duplicates and quantitative outliers. Yet, there is little guidance ...

Testing payroll during an audit can be a tedious manual process, the kind of grunt work that has long been viewed as the “dues” paid by young auditors before they advance in their careers. Recently, ...

Many months and about $1 billion in taxpayer funds later, the U.S. Department of Defense recently announced that it had failed its second comprehensive audit, chalking up another “F” on its audit ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

Businesses can get a decent idea of how they are doing in operations by examining internal company data through reports and graphs. However, sometimes those close to the company don't review this data ...

The Case Western Reserve’s Board of Trustees and management place assets at risk to achieve established priorities and goals. A key function of the Office of Internal Audit Services is to understand, ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...