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 ...

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 ...

Human resource departments function in both a transactional and compliance capacity. The transactional function is concerned with process documentation, records maintenance and security, payroll and ...

On March 30, 2023, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), an organization comprising five private-sector organizations with the goal of helping companies ...

Discover crucial aspects of operational risk, from its causes and management strategies to examples and assessment techniques ...

What are internal controls? The best definition I have come across is from Jonathan Marks, partner at BDO, who defined internal controls as: An internal control is an action or process of interlocking ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. This article is more than 3 years old. The internal audit (IA) ...

Tracy Harding, CPA, was on his way to work and looking forward to completing an audit he was working on. But on the way in, he heard a news report that changed the objective of his day. A local ...

Boards and audit committees now expect defensible, evidence-based insight into emerging risks and assurance gaps, not ...

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 ...

Virginia Credit Union and its Member One division announced last week that it has named two executives to oversee risk management and the Chesterfield County-based credit union’s internal audit ...

Internal controls are measures adopted by the university to promote the thoughtful and efficient use of all resources. As an agency of New York State, the University at Buffalo is obligated to comply ...