A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

Six areas on internal controls are essential. Controls should be considered a form of quality control. Internal controls should be sensible and efficient. Policies designed to control a demonstrable ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

Each year, the Chief Audit Officer develops an audit plan for the University. Using a risk-based methodology, and in collaboration with University leadership, the Chief Audit Officer analyzes ...

Businesses can get a decent idea of how they are doing in operations by examining internal company data through reports and graphs. However, sometimes those close to the company don't review this data ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...

The audit process remains a critical compliance task for any finance department and CFO. But, whether internal or external, it can also be onerous, costly and time-consuming. The risk is that audits ...