Let’s face it, dealing with internal controls from time to time can be a headache and can certainly get out of hand. The power of an organized internal control structure yields a plethora of benefits in terms of cost efficiency, reduced workload, fewer headaches, and happier employees – You know what they say, Organized People Play™.
Tags: Internal Controls, segregation of duties, control reduction, SOX, auditing standards, audit costs, Controls Testing, SOX Compliance Made Simple, internal audit, Process Improvement, software, sox compliance, internal control, Sarbanes-Oxley, Vibato, audit scope, internal control tips
We learned of this proposal today and we thought our readers would be interested. This change would have an inpact on the financial reporting requirements for all public companies.
Tags: Sarbanes-Oxley Articles & Information, audit, 10k, audit scope, PCAOB, SEC
Tags: audit, SOX, auditing standards, audit committee, best practices, internal audit, IIA, Institute of Internal Auditors, Sarbanes-Oxley, audit scope, Richard Chambers
COSO is coming out with a revision to the famous 'COSO Cube' and they have submitted a draft for public comment. The COSO Cube provides the basis for all internal control infrastructures, including Sarbanes-Oxley implementations, and it gives guidance on how to structure and audit control procedures. PwC participate in the update and they have provided a nice synopsis below of the pending change:
Tags: Internal Controls, SOX, 404 audit, audit scope, COSO, Internal Control Education
Let's just get down to the skinny of it, audits in any form are painful. We get that.
Tags: PCAOB News & Information, 404 audit, audit scope, external auditing, PCAOB