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.

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

Day in day out we hear of cases of individuals being indicted and funds missing within organisations. But who are the guardians of integrity and accountability. May is International Internal Audit ...

Auditing firms that tend to find material weaknesses in companies’ internal controls are seen as less attractive in the audit market, according to a new study. The study, by Stephen P. Rowe and ...

When you conduct an internal audit of your small business, you must set specific, measurable goals for that audit. You should be able to use the results of your internal audit to make improvements in ...

The coronavirus pandemic has raised a number of questions about how to properly audit financial statements when internal controls have changed due to dramatic changes in an entity’s business volume ...

With the exception of audits that require no prior notification to be effective, such as cash counts, the units are contacted shortly before the start of any audit. An entrance conference is held to ...

An audit of the city of Camas’ finances released by the Washington State Auditor’s office found the city’s internal controls to be inadequate. According to the state’s findings, which were released ...

An internal audit at the Minnesota Department of Human Services has found several violations of laws designed to prevent fraud, waste and abuse in the branch responsible for a recent series of ...