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Sponsor News!
Thanks for all your support in the past and looking forward to continued support in the future. AuditNet® is a sponsor-supported site. Without sponsor advertising you would have to pay for use of this site. This month check out Caseware-IDEA Data Analysis Software, the standard in ease of use for auditors, accountants and financial managers. Remember! Clicking on sponsored ads helps support AuditNet®. Integrating Process and Technology on Audits A best practice for performing a thorough, risk-based audit is combining reviews of the business process and the supporting information technology into one coordinated project. These "integrated audits" reveal technology or process risks that may go unnoticed in a one-sided audit and result in better recommendations. This article describes the key steps for conducting an integrated audit, and explains the challenges and the benefits of such an approach. This article was contributed by Protiviti KnowledgeLeader, an online service providing tools, templates, and other resources for internal audit and risk management. Free trials available at www.knowledgeleader.com. For a limited time KnowledgeLeader memberships are available for the reduced rate of $500 per year. Tell them you heard about it from AuditNet.org. Click here for the article. Internal Audit Report Structure by Kastuv Ray To some individuals, internal audit is just a job whilst to others it is
an art or “a way of life.” Auditees or the clients do not usually see the working papers (unless you
are working in partnership with the Internal Audit Department and are from
an outsourced provider); therefore it is imperative that the audit report
captures everything (like a snapshot of say the sun setting over Table Bay
in South Africa). Writing a report can be compared to painting a masterpiece where the artist paints on canvas (the audit) and finally frames his/her work (the audit report). Click here for the rest of the story! AuditNet Job Listings (& more) Looking for an audit job? Go to the AuditNet® Audit Jobs section for the latest job opportunities. 24 hours a day, 7 days a week you have the ability to not only look at available jobs, but you can also post your resume, apply for open jobs, research companies and obtain career advice. If you are in the market for a new job, make AuditNet® your first stop to check out what's available. This is just another benefit of using AuditNet® as your one stop shop for all your audit and career resources.
CAREER BOOT CAMP FOR AUDITORS Finding a Job - Differentiating Yourself from the Competition by Robbie Miller Kaplan Your resume looks great and you've nailed the all-important job interview. Now it's time to make your final push for the job offer. How can you make sure you'll shine during your interview? It's my experience that applicants who fail to prepare for the job interview rarely make the final cut. Here are four tips to get you hired:
Good luck! Each month the AuditNet® Newsletter includes a career-related tip from Robbie Miller Kaplan, author of How to Say It in Your Job Search. If you like these tips, check out her books! For more career tips go the Job-Resources Web site. Auditing a Sales System By Raju J. Saboo For organizations engaged in manufacturing and/or trading activities the sales system is the major source of income. All other sources are generally secondary. The very survival of the organization depends on how well it can engage itself in the sales activity. Having understood the basic nature and the importance attached to this function it therefore becomes imperative for the auditor to ensure that the organization has sound internal, system and accounting controls and also that the necessary documentation is in place. This article aims at providing effective guidance for conducting the audit of sales. For the rest of the article click here. Looking for Auditors? If your company has any audit job vacancies that you are looking to fill, have your HR people contact AuditNet® to post the job and search for candidates. Using the jobs section helps support AuditNet® as well! For more information click here. AuditNet® Resource List UpdatesPlease let us know of links that are not working! AuditNet® StatisticsFor those who like to wade through the details on how popular AuditNet® is, click here for the current stats or go to the online WebTrends report.
AuditNet® Book Reviews 7 Steps to Better Written Policies and Procedures by Stephen Page How much time do auditors spend writing? How often are auditors reading policies and procedures as part of the audit process? If you are like me then the answer to both questions is a lot of time. For the rest of the review click here. ***** Best Practice in Policies and Procedures by Stephen Page Stephen Pages' previous books covered establishing policies and procedures, a step by step guide to improve them and achieving 100% compliance. This book focuses on best practices for finding content for policies and procedures. The author has searched the Internet for examples and provides Web sites as well as a methodology for finding examples from which to "jump start" your own policies and procedures. A great addition to an audit professional library and desk reference. For ordering information on both of these books click here.
The only periodical of its kind bringing useful and timely advice and insights into the prevention detection, and investigation of all forms of computer and Internet crime. The September 2003 issue includes the following articles: Cyber-Risk Insurance Latest Developments and Opportunities, Crime Fighting Strategies of a Successful High-Tech Task force Sensible Information Risk Assessments and more. For more information visit www.cybercrimefighter.net
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The Auditor's Guide to Internet Resources, 2nd Edition! AuditNet® Internet Boot Camp for Auditors Special Interest Groups (SIGs) for Auditors: An Idea Whose Time Has Come! For many years I have observed the behavior of auditors interacting directly with me as the coordinator of AuditNet® or through the various discussion forums available via the Internet. There appears to be a common pattern wherein auditors ask questions that could be easily answered by other auditors in the same industry or with the same common interests. So why then are there not special interest groups for auditors? Actually there are some SIGs for auditors. Most of them represent professional associations that have formed out of a common need for guidance and direction. Some of those professional associations have established subgroups focusing on unique interests or needs. The original idea of AuditNet® was to provide an online information network for auditors interested in exchanging ideas and resources. In order to help meet that goal AuditNet® is now providing an opportunity for auditors to start SIG's for industry concentrations or areas of interest. Each AuditNet® Special Interest Group (ASIG) facilitated by a coordinator will have a Web page and discussion forum. The goal will be to share common interests, resources and provide a mentoring environment for new auditors. If you are interested in forming an ASIG, send an email to editor@auditnet.org with the topic or industry, why you are qualified and at least three ideas on how you will handle the group. I will then post a message to see if there is sufficient interest (at least 10 members) and then create the Web page and establish a discussion forum. Auditors Sharing Knowledge (ASK) for Progress; it's what AuditNet® is all about. Stay tuned for the next Internet boot camp tip from the auditing Internet guru! Audit Work Programs Corner Auditors Sharing Audit Programs and Working Papers The following audit programs, ICQs, checklist
or working papers were added this
month. They are in
Audit Documents in the Queue! The following audit documents will be posted next month. Interested in them now? Send an audit work program, ICQ, checklist or other audit template and receive them via e-mail. Your contribution must include your name and email address.
Capital Construction Auditing
Squandering Capital – Is the party REALLY over?by Al M. Gray With returns of several multiples of its costs, Construction Auditing has succeeded in capturing the attention of the auditing profession. However, there is the danger that success in controlling costs from outside contractors is not met with equal vigor in a sustained emphasis on sound internal controls over capital spending. To read the rest of the story, click here! Software Compliance Audit News September 2003 Update
by Rob Harmer
Some time ago PCProfile wrote an article on Peer 2 Peer networking
issues (Have You been
Napstered and Under Your
Nose) which talked about the risks of and file sharing.
It now seems that the issue of P2P and file sharing will probably become the biggest threat and drain on auditor resources as an issue that all auditors will have to face. For the rest of the story click here. Comprehensive Fraud-Fighting Computer Tool Available For Free Download From
AuditSoftware.net
The Institute of Internal Auditors (IIA) Research Foundation announced the posting of a free online document to help business professionals worldwide use computers to fight fraud. Proactively Detecting Occupational Fraud Using Computer Audit Reports is designed to assist auditors, fraud examiners, and management in implementing data analysis routines for improved fraud-prevention and -detection. This report provides a comprehensive checklist of data analysis reports for every occupational fraud type in existence, as well as, general guidance to help audit teams better analyze company data. To download this free document, click on the below link:
http://www.theiia.org/ecm/iiarf.cfm?doc_id=4248
Your Secret Weapon in the War on Fraud The September issue of this fraud newsletter features articles on Selecting the Best Outside Fraud Investigators, Intellectual Property: How to Keep it Secure, New Anti-Money Laundering Standards and more. AuditNet® users qualify for special rates on this publication. For more information click here. The AuditNet® Audit Bookstore Looking for books on auditing related topics? We suggest using the AuditNet® bookstore. The bookstore focuses on Internal Audit but includes other related subjects as well. AuditNet® uses Amazon to power the bookstore so each purchase you make through this link helps support AuditNet®. FREE! The Auditor's Guide to Internet Resources 2nd EditionInterested in a free copy of The Auditor's Guide to Internet Resources, 2nd Edition? Write an article for the next newsletter on how you are integrating the Internet in auditing. If your article is selected, I will send you either the book or CD. Send your article to editor@auditnet.org AuditNet® Vendor News Check here for the latest news from our AuditNet® sponsors! ACL Services Ltd. FOR IMMEDIATE RELEASE August 4, 2003: ACL Tops Annual Audit Software Survey For the press release click here. Pentana August 19, 2003: Pentana Launches Affordable and Effective Resource Planning System For the press release click here. Protiviti KnowledgeLeader For a limited time KnowledgeLeader memberships are available for the reduced rate of $500 per year. Tell them you heard about it from AuditNet.org. Preview of Coming Attractions! The AuditNet Monograph Series provides useful guides for all levels of auditors from juniors right up to audit directors. If you are interested in developing a monograph on a contract basis, send an email to editor@auditnet.org Watch for articles about forensics for auditors, risk management, audit report structure, exit conferences and more. More book reviews are coming so watch the newsletter. Have an idea for a column? Send it to editor@auditnet.org AuditNet® is working on new specialized resources for auditors. Watch the newsletter and keep checking the Library page for updates and new resources. AuditNet® Conference Corner Want to announce your professional association conference to the global audit community? Send the conference name, date and URL details to editor@auditnet.org Preventing Your Firm's "Enron" by Gary D. Zeune, CPA Enron is the largest bankruptcy in U.S. history. It represented a “shock” to the system. How could a company worth $80 billion go bankrupt in less than a year? Answer: Because it lost credibility. Your personal and firm credibility is the only thing that gives your work value. You can be the most technically competent accountant around, but when people who rely on your work product (called financial statements/tax returns/etc.), don’t believe what you say, it has no value. Thus, we must do everything in our power to maintain our integrity. We will explore a number of our standard practices, which makes it appear to a jury of our peers (called 12 citizens—not accountants) that we are not ethical, nor do we have integrity. For the rest of the story reprinted from the Ohio Society of CPAs Journal click here. AuditNet® Feedback Be careful what you wish for, you might just get it. I wished
for finding such resource, and I just found it. Keep up the good work
Jim Kaplan Regards, Muhammad Faisal Rauf Danka Founder ISSA Pakistan
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format unless otherwise specified. Some may only be available in
exchange for an audit work program contribution. They are also available in
format by email in exchange for a contribution of an audit work
program, ICQ or checklist.
Beginning in August 2003 all new programs contributed will include the
date the program was added to the inventory (dd/mm/yy). This was at
the suggestion of an AuditNet® user.
