We are often asked how long company's must keep their internal controls documentation and when we tell them, we are often met with shocked stares but here is your answer:
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Tags: Internal Controls, financial risk, Controls Testing, personal risk, compliance
Determining a correct sample size is an important first step in your internal controls testing efforts. Below is Vibato's approach to sample size determination, which we've used with great success for years.This approach has been vetted with all Big 4 and most regional external auditing firms.
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In the bad old days, it took a few phone calls to your auditor and maybe lunch with one of your finance colleagues to get answers to your toughest questions about internal controls, compliance, and risk management.
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NASDAQ recently filed a request with the SEC to change the regulations for listing on a major stock exchange for reverse-mergers - citing concerns over fraud, stock manipulation, and the quality of audits.
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Tags: Internal Controls, audit, fraud
In my previous post about SOX 404(a) and non-accelerated filers, I highlighted some of the requirements of the legislation. Below I have outlined a proven approach to dealing with those legislative requirements in a cost-effective, efficient way.
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Tags: Internal Controls, 404, Sarbanes-Oxley
