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Corporate Governance
Certification
New Program Offering
from Bisk Education
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program in a week: Audit Committee and reporting, legal and board issues and
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To get more information click
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AuditNet®
Community
Sponsor News!
The AuditNet® community has grown by leaps and bounds over the past ten
years thanks to your continued support. Yes it is hard to imagine but it has
been a decade since this community was created! Support AuditNet® by
supporting our sponsors.
Without sponsor and affiliate advertising and contributions from the AuditNet®
community everyone would have to pay for use of this site.
This month check out
PricewaterhouseCoopers
TeamMate, a database-driven audit management system
that streamlines the audit process by providing integrated
tools for documentation, report generation and file sharing.
Remember: visiting sponsors helps support
AuditNet®.
Sample
Audit Report - Accounts Payable Review
This is a sample internal audit report for an accounts payable review.
The example illustrates a clear and concise format for presenting audit
objectives, scope, and procedures performed. It includes an executive
summary of recommendations with their corresponding priority. This is
followed by the detailed observations and the related management actions
plans. Each plan is assigned an owner and a due date for resolution of the
audit issue.
This sample report 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 report..
Mandatory Auditor Rotation
By Tom Crouch, CPA, CIA, CISA, and Attorney
Publicly traded companies are not required to change periodically which
CPA firm performs their annual financial audit. However, CPA firms are
required to rotate the audit partner assigned to an audit after five years.
Should there be mandatory CPA firm rotation instead of audit partner
rotation?
This is a companion article to last month's Seven Year
Auditor Rotation. For the rest of the story click
here!
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.
Click here for more jobs!
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®
Fraud Auditing Corner
ACFE
to Provide AuditNet® with Fraud Articles
The Association of
Certified Fraud Examiners will provide a link on the
AuditNet® newsletter to a featured article from The
White Paper, the
professional magazine of the ACFE.
AuditNet® will post conference and
seminar information that is mutually beneficial to both the ACFE
and the
AuditNet® communities.
AuditNet® will continue to pursue cooperative
relationships and partnerships with professional associations in
the
interest of sharing resources for the benefit of the global
AuditNet®
community.
For the article from the latest White Paper click
here.
New Fraud Auditing Standard Implications for Financial Statement
Reliability
By Gary D. Zeune, CPA
According to Gary Zeune, president of The Pros &
Cons, Powell, Ohio, a new fraud auditing standard in effect
December 15, 2003 is estimated to increase audit fees 15-25%.
To find out the implications click
here.
AuditNet® Resource List Updates
Click here for the new links!
Please let us know of links that are not
working!
Free Sarbanes-Oxley Software Made Available
To address the mounting debate about the requirement to
document the
internal controls in order to comply with SOX, a new software is now
available free of charge.
Click
here for
details.
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 March 2004 issue includes the
following articles: Preventing E-Commerce Fraud, How to Avoid Destruction
of Digital Evidence and more. For more information
visit www.cybercrimefighter.net
Symbols and
Internal Audit
by Kastuv Ray
Internal Auditors can learn a lot from their surroundings, particularly
the Animal Kingdom.
The eight questions listed below focus on what each animal symbolizes. This
can be used at team meetings to find out how your colleagues think.
Click here
for the rest of the story!
AuditNet® Conference
Corner
Want to announce your professional association
conference to the global audit community?
Send us conference
name, date and URL details.
2004 ACFE Fraud
Conferences and Training
ACCA
Control and Risk Self-Assessment Forum Conference, Mar 10,
2004, London, England
Mid-Atlantic Network Security Forum - Washington, DC (mention
you heard about it from AuditNet and save $100)
General Audit Management Conference Mar 22-24, 2004
Coronado, CA
Vendor Expo
Free (or Almost Free)
CPE
Making Sense of
Audit and Assurance Software
In A SarbOx Environment
On March 11, 2004, The Institute of Internal Auditors (The
IIA) North Jersey Chapter will host a vendor expo: Making Sense of The Audit
and Assurance Market In a SarbOx Environment. It is the first expo of its
kind, bringing together the leading audit and assurance software vendors
from around the world. The expo is geared to auditors and financial analysts
looking to expand their understanding of audit software.
For details click here.
Mid-Atlantic
Network Security Forum
March 3-4,
Grand Hyatt Washington, D.C.
The Forum brings together experienced IT security
professionals, auditors and executives from top organizations to discuss
technology and best practices in a confidential environment. Limited to 120
participants across five tracks (four technical and one managerial), the
Forum is led by security experts and draws on the experience and expertise
of all participants to drive new insights. The Mid-Atlantic Forum draws a
cross section of participants from government, industry and academia and is
an exceptional event for learning what really works in IT security. Price
for AuditNet members: $895 (a $100 savings).
Register online or by calling 617-399-8100.
AuditNet® Vendor News
Check here for the latest news from our AuditNet®
sponsors!
ACL Broadens Enterprise Audit and Compliance
Support with Launch of New AIX and LINUX Server Software
Click here for the
details.
AuditNet®
Statistics
For
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.
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The Auditor's Guide to Internet Resources, 2nd Edition!
Order it Now!
Auditor on the
Net!
Finding Educational Tools on the Internet
for Auditors
When I moved from my position as audit manager of a county
government internal audit office to Internal Audit Director of a
public school district I could not have envisioned the total and
complete cultural change between the organizations. The position in
the public school district was newly created as they had been without
a formal internal audit function for eight years. There was little
understanding or appreciation of internal auditing in public
education. As a result, I found myself assuming the role of an
educator in an educational setting. Next month I will share with the
AuditNet® community techniques for finding educational
resources on the Internet.
If you have a tip on how you are using
the Internet or software applications for auditing send them to
editor@auditnet.org Watch for
more Internet boot camp tips 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
 format unless noted otherwise. Some may only be available in
exchange for an audit work program contribution. They are also available in alternate
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 (mm/yy). This was at
the suggestion of an AuditNet® user.
-
401K Audit Program (Mar 04)
-
Capital Cost Audit Program (Mar 04)
-
Change Control ICQ (Mar 04)
-
Desktop Audit Program (Mar 04)
-
Dry Cleaner Store Review Audit Program (Mar 04)
-
Emergency Response Plan ICQ (Mar 04)
-
Finance Audit Program-Joinery (Mar 04)
-
HIPAA Privacy Regulations Compliance ((Mar 04)
(Contribution Required)
-
Income and Debtors ICQ
(Mar 04)
-
Income-Other Audit Program (Mar 04)
-
General Ledger ICQ (Mar 04)
-
Government Policy ICQ (Mar 04)
-
Knowledge Management ICQ (Mar 04)
-
Mult-Security Assessment Checklist (Mar 04)
-
Physical Security Data Center ICQ (Mar 04)
-
Production Process Audit Program-Joinery (Mar 04)
-
Property Plant & Equipment Audit Program (Mar 04)
-
Reconciliation Testing Audit Program (Mar 04)
-
SAP Master Data Maintenance Audit Plan (Mar 04)
(Contribution Required)
-
Sample Strategic Internal Audit Plan (Mar 04)
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.
-
Administration Department Audit Program (April 04)
-
Audit Report Color Rating System (April 04)
-
Background Screening ICQ (April 04)
-
Business Units ICQ (April 04)
-
Claimant Eligibility ICQ (April 04)
-
Database Audit Checklist (April 04) (Contribution
Required)
-
Data Warehouse Data Reliability Process Review
(April 04) (Contribution Required)
-
Expenditure Cycle Risks and Controls Matrix
(Manufacturing concern/SAP environment/SOX) (April 04)
(Contribution Required)
-
Group Medical Insurance Policy-Claims and Premium
(April 04)
-
Haz Mat Audit Checklist (April 04)
-
IT Audit Process Description (April 04)
-
IT General Controls (April 04)
-
Microsoft SMS Audit Checklist (April 04)
(Contribution Required)
-
Payroll Audit Program (April 04)
-
Process Walk Through Template (April 04)
-
Returned Checks Audit Program (April 04)
-
Small Sample Size Excel Workbook (April 04)
-
Surface Water Management (SWM) Compliance (April
04)
-
System Administration and Operations (April 04)
AuditNet®
What's
New This Month?
AuditNet begins providing more fraud related
information including a new section on Whistleblowing resources
for auditors and articles from the ACFE. There are now over 800 audit work programs in the
inventory and I project that by the end of the year there will be
over 1,000. This month I reviewed Forensic Accounting and Fraud Investigation for Non-Experts.
An exciting new CAATT application is scheduled for release this
month. Bisk Education launches a new S-OX certification program
for auditors. All this and more!
AuditNet®
From One Auditor's Perspective
Two-Tier
Audit Plan and Risk Rating
For Smaller Internal Audit Operations
by Ron Keister
The purpose of this article is to discuss a way for
smaller internal audit departments to improve their effectiveness and
efficiency. The degree to which this can be done is a function of the
quality, attitude, and breath of knowledge of the department’s
management and staff, along with the quality of support from the
organization’s management. I like to provide this as if it is a
Finding, which in essence it is, or was!
For the rest of the story click
here!
AuditNet®
CAATT Corner
"Searching for Fraud - Five
Tests for SAS 99 Compliance"
by Carolyn Newman ASI
Find out how to use IDEA to search through electronic
data files for evidence of fraudulent or unusual transactions during
an audit.
For the rest of the story click
here.
AuditNet®
Software Compliance Audit Corner
The Risks of Old PCs
Article provided by Rob Harmer Consulting
Services
“It’s 2004 and Year 2000 is about to hit us again!”
First reactions on reading the headline above will make you think we
had “lost the plot, totally”. Your reaction is likely to be “OH,
NO”, not another “the sky is falling” message, we had that detail
all through the years 1997, 1998, and 1999 which is now 4 to 5 years
ago! Before you turn off, please read on as there are issues that
CEOs, Managers, Directors need to be made aware of to reduce their
personal risk.
For the rest of the story click
here.
Your Secret Weapon in the War on Fraud
The March 2004 issue of this fraud newsletter features
articles on S-OX compliance: Choosing the Best Technology Tools, How
to Fight Fraud in an Overloaded Legal System and more. AuditNet® users qualify
for special rates on this publication. For more information click here.
The AuditNet® Audit Bookstore
Corner
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®.
This Months
Featured Book
By Howard Silverstone and Michael Sheetz
The question of fraud within your organization is not a matter of “if”
but rather “when”!
According to KPMG’s 2003 Fraud Survey:
Organizations are reporting a rise in fraud, responding with
expanded fraud measures both reactive and preemptive, and planning
further actions for the future.
Click
here for the review!
FREE! The
Auditor's Guide to Internet Resources 2nd Edition
Interested 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® Partner Discounts
Late
Breaking News from PC Profile !
Any auditor who is linked to a network based Windows
system (as most large organizations are) can sit at his server based
PC, send a Task as an Outlook task message and get all the PCs on the
network audited (and wake up the staff to compliance issues at the
same time) in less than 5 minutes per PC WITHOUT having to visit each
PC. The audit executable is 75K in size and when you check out what we
deliver as fully disclosed details in the audit samples at the link
above you can see what we have delivered is very powerful!
Members of the AuditNet community can get this new
revolutionary product at a 20% discount. Click
here
for more information and make sure you mention AuditNet when
contacting PC Profile.
Check out Cash Flow Guardian the newest AuditNet® partner offering discounts to
AuditNet® users. Cash Flow
Guardian, a turnkey software package that seamlessly links to any
accounting system, rapidly flagging problem accounts payable items and
completely automating recovery. Auditors will be particularly
interested in
CFG
for Audit Control specifically developed by Rich Lanza.
Another quality partner with AuditNet® is Patton and
Patton Software, maker of Flowcharting 5. Click
here for a 25% discount
on Flowcharting 5, their flagship product.
AuditNet® It pays to be a member!
For information on partner discounts click
here.
Preview of Coming Attractions!
AuditNet® has selected WorldLingo software to offer translations of the Web
site into languages of
AuditNet® visitors. The Instant Web Site Translator, a
turnkey Machine Translation solution will give AuditNet® the ability to provide auditors with speedy
multilingual translations in seconds. One simple click will allow a
non-English speaking visitor to view the
AuditNet® site in their own language. Another example of
how we are making
AuditNet® the universal tool for the global audit
community.
AuditNet will begin by offering translations from English
to Spanish. Other languages will be added based on demand.
The AuditNet Monograph Series provides
useful guides for all levels of auditors from juniors right up to audit
directors. New guides are under development for International Auditing:
Cultural Considerations, and Internet Search Skills for Auditors. We are also
working on creating a monograph for Evaluating Internal Controls in
Government. If you are interested in developing a monograph on a
contract basis, send an email to editor@auditnet.org
Watch for new articles from contributors. We are
working on a book review on Fraud Investigation using IDEA, 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®
Feedback
The audit programs in the AuditNet are very useful to us
and save time especially in the planning of our audit engagements.
Well organized site. I like it!
This website has been very helpful for me as I am doing
something new in my job. Creating audit programs
This website is helping me create a lot audit programs
for my organization. continue the good work
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