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.

Whenever foreign investors want to figure out whether internal control exists and is sufficient in their Chinese subsidiaries, an internal control review (ICR) might be the best and very first step to ...

The Public Company Accounting Oversight Board is seeing some improvements in audits of internal control over financial reporting, but also some contradictory findings. In a speech last week during the ...

With schools returning to classes soon, we give you a breakdown of Science is Fun and Awesome Learning Academy Charter School’s Fiscal Year 2023 audit and the strategies the program is using to ...

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 ...

As the cost of compliance continues to increase, risk managers are finding that collaboration across the three lines of defense can achieve an integrated risk management solution that optimizes ...

Today many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control ...

As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

To define the purpose, authority and responsibilities of the Internal Audit Office and establish the principles and framework that govern it. 2. Objectives and Scope The Internal Auditor 1 is ...