Internal Controls over Financial Reporting: Testing with Precision

Posted by Guthrie Chenon Wed, Jun 25, 2014 @ 09:52 AM

With a renewed emphasis in testing with precision on internal controls over financial reporting, it may help to jump the gun and review some of your most complex controls that would fall within scope of an external auditors review. The following definition of ‘testing with precision’ is defined in the following statement via Crowe Horwath LLP:

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Tags: Internal Controls, examples, audit, external audit, precision, misstatement, testing, risk management, reconciliation, material

Sam Antar: On Fraud & the Black Arts of White Collar Crime

Posted by Teresa Bockwoldton Thu, Jul 25, 2013 @ 02:51 PM
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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, segregation of duties, risk assessment, Announcements, SOX, external audit, SOX Compliance Made Simple, White Collar Fraud, Bay Area Accounting Professionals Mixer, Sarbanes-Oxley Training, internal control, risk management, Sarbanes-Oxley, external auditing, Internal Control Education, internal control tips, Sarbanes-Oxley for Non-Profits, corporate governance

Jesse Jackson Jr.'s admits to violating campaign finance laws

Posted by Alex Roweon Fri, Feb 08, 2013 @ 04:19 PM

Jesse Jackson Jr. admits to violating campaign finance law, spending funds on things such as a $40,000 Rolex watch and personal travel expenses for a friend. His plea comes in response to a federal investigation which may have led to his resignation from his congressional seat in November 2012. Jackson wife, Sandi Jackson, could also potentially be charged in the case for receiving $5,000 a month as a ‘political consultant’. Depending on the decision of the federal judge, Jackson could be facing probation or possibly prison time.

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Tags: Internal Controls, campaign, congress, Jesse Jackson Jr., campaign finance, risk management, Sarbanes-Oxley, Vibato, fraud, government, federal investigation

Open Offer to Mitt Romney & Newt Gingrich Regarding Sarbanes-Oxley

Posted by Teresa Bockwoldton Sun, Mar 11, 2012 @ 09:47 AM

Open Offer to Mitt Romney & Newt Gingrich: I would pay you each $10,000 to hold a 1 hour publicized debate with me about Sarbanes-Oxley Section 404(a), (b), and (c).

Let's speak seriously about this issue.

 

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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, Announcements, 404, 404 audit, Non-accelerated filer 404(b) information, SOX Basic®, SOX Compliance Made Simple, Wall Street Reform, Sarbanes-Oxley Training, risk management, Sarbanes-Oxley, Internal Control Education

August 3, 2011: Financial Risk Assessment Free Webinar

Posted by Teresa Bockwoldton Fri, Jun 24, 2011 @ 05:05 PM

 You are cordially invited to the Vibato Webinar Series, How to Perform a Financial Risk Assessment being held on Wednesday, August 3, 2011 10:00 AM - 11:00 AM PDT.  

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Tags: Sarbanes-Oxley Articles & Information, financial risk, Compliance tools, risk assessment, best-practice, SOX Compliance Made Simple, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit scope, Internal Control Education

New Video Posted- Internal Controls Considerations for Nonprofits

Posted by Teresa Bockwoldton Fri, Jun 03, 2011 @ 02:02 PM
Watch to learn about financial repoting concerns that you should consider when implementing internal controls at at non-profit organization.



On May 24, 2011 at Sonoma Mountain Village, Teresa Bockwoldt spoke on behalf of Vibato, LLC for the North-Bay 2011 Board Member Boot Camp for Non-Profits.


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Tags: Internal Controls, risk assessment, Vibato Products, Sarbanes-Oxley Training, risk management, Vibato

You're Invited - Webinar: How to Perform a Financial Risk Assessment

Posted by Teresa Bockwoldton Wed, Jun 01, 2011 @ 05:07 PM

 You are cordially invited to the Vibato Webinar Series, How to Perform a Financial Risk Assessment being held on Thursday, June 23, 2011 10:00 AM - 11:00 AM PDT.  

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Tags: risk assessment, Vibato Webinars, risk management, Internal Control Education

Internal Control Deficiency Measurement in 5 Steps

Posted by Teresa Bockwoldton Wed, Apr 13, 2011 @ 08:39 AM

An internal control deficiency can be caused by a number of issues but it is primarily defined as an error discovered during internal controls testing (e.g., a payment was coded to utilities when it should have been coded to inventory) or during a review of the internal control evidence (e.g., the internal or external auditors discover the coding mistake rather than management finding it as part of their closing activities).  An internal control deficiency may also occur simply from someone forgetting to execute one of their internal controls entirely.

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Tags: Internal Controls, Compliance tools, risk assessment, audit, SOX, 404 audit, best-practice, Controls Testing, 10k, Product Information, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit deficiency, Internal Control Deficiency

The Economic Benefits of the Sarbanes-Oxley Act?: Evidence From a Natural Experiment

Posted by Bill Bockwoldton Tue, Jan 18, 2011 @ 06:14 PM

Interesting post from www.compliancehome.com

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Tags: Sarbanes-Oxley Articles & Information, 404, 404 audit, Non-accelerated filer 404(b) information, Wall Street Reform, compliance, risk management, Sarbanes-Oxley

Internal Controls Tools Suite That Can Ease The Management Of Your Accounting & Financial Reporting

Posted by Bill Bockwoldton Thu, Jan 06, 2011 @ 04:20 PM

Have you ever wondered how internal controls can benefit your accounting and financial reporting systems? Have you been worrying excessively, recently, concerning the upcoming audit of your company and possible conflicting situations that could arise? Certainly, for a firm in the 21st century proper accounting management is one of the most vital issues, and that's why smaller companies with limited staff resources in this field should make use of up to date technologies to take care of this.  See more via this link:jimmie8owens.typepad.com

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Tags: risk assessment, 404, Vibato Products, 404 audit, audit costs, Product Information, compliance, risk management, Vibato