Houston Chronicle

What Is the Purpose of Internal Auditing?

An internal audit helps a company ensure it has the proper controls, governance and risk management processes in place, according to the Institute of Internal Auditors. By nature, it's an independent ...
Houston Chronicle

An Audit Firm's Responsibility About Weaknesses in Internal Control

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.
Accounting Today

Firms remove partners who fault clients' internal controls

Auditors who issue adverse opinions regarding a client's internal controls can find their careers derailed, according to a recent study. Processing Content The study, released in March, found that ...

Analyzing Unauthorized Access Incidents from the Perspective of Internal Control: 5 Controls IT Auditors Should Look At

Introduction: Auditors should read news about incidents with a "control-oriented eye"Daiwa Securities, Rakuten Drive, Lawson, ...
Accounting Today

SEC mulls rollback of internal control audit requirements

The Securities and Exchange Commission is proposing to limit the requirements under the Sarbanes-Oxley Act for audits of internal controls over financial reporting, making them apply to only the ...
Phys.org

Controversial internal control audits improve operational efficiency for small firms, study finds

The November collapse of cryptocurrency exchange FTX serves as a lesson of what happens when a corporation avoids internal audits of its own financial operations. A new article examines how such ...
The Wall Street Journal

What Organizational Traits Strengthen an Internal Audit Function?

The Institute of Internal Auditors’ (IIA) new Global Internal Audit Standards™ went into effect on Jan. 9, with a stated goal of elevating the quality and effectiveness of an organization’s internal ...
poole.ncsu.edu

Do Smaller Public Companies Need Internal Control Audits?

The Sarbanes-Oxley Act of 2002 significantly expanded oversight of public companies following high-profile accounting scandals at Enron and WorldCom. Among its most debated provisions is Section 404(b ...
knowledge.wharton.upenn

Internal Control Audits: Why an SEC Proposal Could Hurt More Than It Helps

Wharton's Daniel Taylor discusses his research on why proposed SEC changes on small firm audits could lead to more accounting scandals. The Securities and Exchange Commission proposed in May to exempt ...
New Orleans CityBusiness

Audit finds University of New Orleans lacked effective internal controls

The University of New Orleans failed to maintain an effective internal audit function and did not fully comply with financial reporting standards, according to a recent audit conducted as part of the ...
Sacramento State University

What is Internal Auditing?

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish objectives by ...