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This month check out D'Arcangelo Software Services - Galileo and Magique. Galileo is a comprehensive and integrated audit management, documentation and reporting system, with optional links to Magique, an enterprise-wide risk management/control risk self-assessment system. Both are highly customizable, modular systems which support multiple remote auditors with comprehensive security. Remember! Clicking on sponsored ads helps support AuditNet®. Remember: visiting sponsors helps support AuditNet®. Continuity planning: Is your business ready? Companies today face a myriad of risks, each of which can result in lost
profits, reputation damage, injuries or, in extreme cases, the loss of life,
or the demise of an organization. To help mitigate these risks the
Department of Homeland Security recently launched the Ready Business
initiative. The program outlines commonsense measures business owners and
managers can take to prepare for an emergency, and provides practical
information to help companies plan for their future. This article discusses
the most significant elements of the initiative, 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 $550 per year. Tell them you heard about it from AuditNet.org. Click here for the article! Shortage of U.S. skilled workers by 2020 ? By Tom Crouch, CPA, CIA, CISA, and Attorney There are numerous authoritative sources that are projecting a severe shortage of US skilled workers by 2020. In fact, similar shortages are expected in nearly every major industrial country. The first two parts of this story appeared in the December 2004 newsletter For the next part of this story click here! Construction Contracts - Insurance Policiesby Gursharan Singh Owners, Financiers and others who have any pecuniary interest in the Implementation of ‘CONSTRUCTION PROJECTS’ would normally require that their respective interests be safeguarded against known and unknown risks. The safeguard instruments generally used are Cash Deposits, Performance Bonds issued by Financial Institutions and Insurance Policies issued by Insurance Companies. This article will make reference to the specific provisions pertaining to INSURANCE POLICIES that are generally prescribed in commonly used ‘FORM OF CONSTRUCTION CONTRACTS’ formats they may be issued by the relevant regulatory authorities and others who may have direct/indirect interest in the construction industry such as the technical/accounting/legal and other professional bodies. Click here for the article! IIA Technology Audit Guide Series The IIA is producing a series of publications with guidance on information technology. Written primarily for the chief internal audit executive (CAE) and audit supervisors, the guide will address concerns of the board of directors and chief-level executives. Each Global Technology Audit Guide (GTAG) will be written in straightforward business language to address timely issues related to information technology management, control, or security. GTAG will be a ready resource series for chief audit executives to use in the education of members of the board and audit committee, management, process owners, and others regarding technology-associated risks and recommended practices. For more information and the link to the first GTAG on Information Security Controls 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 |
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Eliot Spitzer targets fraud on Wall Street, in the mutual-fund business, and in the insurance industry. He says he wants the marketplace to work more efficiently, honestly, and fairly. Spitzer's methods offer lessons for fraud examiners. |
This article is from Fraud Magazine, the professional magazine
of the Association of Certified Fraud
Examiners
For the rest of the article from the latest ACFE Fraud Magazine click here.
AuditNet® Information Security
Protect Yourself: Phishers target Yahoo and MSN Instant Messengers
by Rey LeClerc
Yahoo confirmed March 24, 2005 that its Yahoo Messenger service is being targeted by a phishing scam attempting to steal usernames, passwords and other personal information.
Click here for the rest of the story!
AuditNet® Resource List Updates
Please let us know of links that are not working!
Free Tools for Auditors
Sarbanes-Oxley Software
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.
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. For more information visit www.cybercrimefighter.net
2nd Annual Software Expo This Month Free (or Almost Free) CPE
On April 19, 2005, The Institute of Internal Auditors (The IIA) North Jersey Chapter will host a software expo: Automated Solutions For Creating Sustainable Value. It is a follow-up to last year’s successful event, bringing together the leading audit and assurance software vendors from around the world. The expo is geared to external auditors, internal auditors, and fraud examiners looking to expand their understanding of software in the overall assurance market.
For more info click here!
AuditNet® Conference & Training News
Want to announce your professional association
conference to the global audit community?
Send us conference name, date and URL details or your
Second Annual Software Expo North Jersey Chapter-IIA
2005 ACFE Fraud Conferences and Training
2005 IIA Conferences and Training
* indicates events where Jim Kaplan is speaking
AuditNet® Vendor News
Check here for the latest news from our AuditNet® sponsors!
Paisley Consulting press releases
Pentana news and announcements
Preview of Coming Attractions!
In an exciting new alliance with Rose Hightower of IDEAL Consulting Solutions International, LLC; AuditNet® introduces a new exchange service for Policies and Procedures. Rose, a former IBM employee and President of IDEAL, has performed consulting engagements that improve the internal control posture and implement enterprise wide Policy and Procedure programs. Rose, an accountant with an MS from Syracuse University, will coordinate this new AuditNet® resource. AuditNet® will also introduce a new sharing exchange library for audit presentations. Similar to the popular audit program exchange library, these new sections will provide sample polices and procedures and training/briefing presentations from auditors. We will start with sample documents and PowerPoint presentations and encourage contributed material from the audit community. These resources will be of great benefit to companies undergoing S-Ox reviews especially non-accelerated filers. Watch for details!
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 Sarbanes-Oxley, internal controls and Internet for auditors. If you are interested in developing a monograph on a contract basis, contact us.
Watch for new articles from contributors including SOx 302 and Issue Reporting. Reviews are in the works for Brinks Modern Internal Auditing, PowerPoint Personal Trainer, and Excel Personal Trainer. Watch the newsletter for more products, services and tools for auditors. Have an idea for a column? Contact us.
AuditNet® continues adding new specialized resources for auditors. Watch the newsletter and keep checking the Library page for updates and new resources.
AuditNet® Statistics
For those who like to wade through the details on how popular AuditNet® is, click here for the current stats.
E-Books for
Subscribers to the Annual Audit Programs
Heard on the Net!
AuditNet® and Jim Kaplan: Future Plans?
As many of you may or may not know at the end of this month I will retire from my full time career as a local government internal audit practitioner. It is hard for many members of the global audit community to grasp the concept that AuditNet was not my full time endeavor. It however truly was like raising a child. Many AuditNet users have asked what my retirement means for the Web site. Will I continue to manage the Web site? What will happen to AuditNet after I retire? Let me assure each and every one of you that AuditNet will continue and hopefully, with my new found freedom, will flourish as I expand on the concept of an online information network for auditors. As you know I have added new content to AuditNet over the years and as opportunities present themselves, I continue to build and mold the Web site to meet the needs of the global audit community. Just this past year I added many new pages including a Sarbanes-Oxley Audit Resource Center, an Audit Programs Subscription Service, a new secure login system, guest article contributors for the newsletter and more. For every new idea and area added to the site I have 5 more bouncing around in my brain. There will be an exciting new Audit Policy & Procedure Library Exchange (APPLE) that will encourage auditors to share best practices for policies and procedures, subject matter experts (SME) that will offer support, a new Presentations sharing library, new audit programs, checklists and ICQs shared by auditors. I have talked about redesigning the Web site for several years now but have never had the time to sit down and do it. I will now have that time. I plan on taking some classes in building Web sites as all my efforts to date have been without formal training. I truly support the concept of lifelong learning!
Oh, and by the way, I will not devote all my time to AuditNet. I
plan to spend more time with family, especially my wife of almost 35
years, travel, speak, teach, write, stay healthy and fit and continue
to challenge my mind. I hope to meet many of you faithful supporters
with whom I have communicated with via e-mail over the years but never
had the chance to meet in person.
Needless to say I will be busy and most likely wonder how I ever found the time to work at being an internal auditor!
Until next month!
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 not currently in the inventory.
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.
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Audit Plan Interview Sheet (Apr 05)
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Bank Secrecy Act Audit Program (Apr 05)
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Checkpoint Firewall Review (Apr 05)
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Fuel Dispensing Controls (Apr 05)
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Human Resources Audit (Apr 05)
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Key Controls Checklist - Spanish (Apr 05)
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Purchasing Audit Program Feb 05 (April 05) 2 pages
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Purchasing Department Audit (Apr 05)
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Technology Help Desk Review (Apr 05)
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.
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Bank Reconciliation Process (May 05)
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BSA Compliance Audit Program (May 05)
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BSA Currency Transaction Report Test Worksheet (May 05)
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BSA Name of Exempt Person Worksheet (May 05)
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BSA Suspicious Activity Report Compliance Worksheet (May 05)
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Business Case Review Checklist (May 05)
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Construction Industry-Award of Tender and Site Management (May 05)
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Construction Industry-Contract Administration (May 05)
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Construction Industry-Project Costing (May 05)
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Construction Industry-Site Diary (May 05)
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Construction Industry-Site Management (May 05)
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Construction Industry-Tendering Procedures and Award of Tender (May 05)
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E-mail System ICQ (May 05)
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Human Resources Audit Checklist (May 05)
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Maintenance & Materials Management ICQ (May 05)
Contribution Required Audit Documents!
The following documents require the contribution of an audit program not currently in the inventory. They are also available to subscribers to the Audit Programs Subscription Service.
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General Computer Controls Program Change (Apr 05)
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General Computer Controls Data Center and Computer Operations (Apr 05)
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General Computer Controls IT Control Environment (Apr 05)
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General Computer Controls Access to Programs and Data (Apr 05)
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HIPAA Privacy Rule Compliance Audit Program (Apr 05)
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IT Application Systems Review (Apr 05)
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IT Risk Assessment Firewall Audit Program (Apr 05)
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S-Ox Control Exception and Deficiency Evaluation Worksheet (Apr 05)
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S-Ox IT Audit Program (Apr 05)
AuditNet® What's New This Month?
This month there are new articles, book reviews and more. We added a new column on information security with Rey LeClerc, Chief Information Security Officer for Case Western Reserve Company. Watch for new additions to the audit programs subscription service available as an alternative for those auditors that are unable to contribute material to AuditNet®. There are many new audit programs in the queue for the AuditNet® community. All this and more! The best way to find all the resources on the site is by going to the Virtual Library or use the site search.
Sarbanes-Oxley Corner
Sarbanes-Oxley Implementation Costs: What Companies are Reporting in their SEC Filings
ARC Morgan, Consultants and Advisory Services for Sarbanes-Oxley Compliance recently released a comprehensive analysis that provides disclosed Sarbanes-Oxley Section 404 implementation costs reported by 280 SEC registered companies.
Key Findings
- The majority of disclosed costs were incurred in the second half of 2004
- Two thirds of costs on external resources were incurred in the last quarter
- Companies with less than US$ 2 billion in annual sales incurred average implementation costs of US$ 1.8 million for external resources
- Average total costs, internal and external fees, put at US$ 3 to US$ 3.2 million for companies with les than US$ 2 billion in annual sales
For a downloadable copy of this timely report, click here.
AuditNet® CAATT Corner
Setting a Process To Proactively Detect Fraud Using Technology
By Richard B. Lanza, CPA, CFE, PMP
Fraud is an elusive enemy in that it is a human nature issue. Therefore, as quickly we can build a person-trap to catch a particular fraudster, just as quickly will the person find a new means to extract funds from a company. While this may be a defeatist attitude, I consider it more of a realistic situation assessment. Also, by admitting that technology alone will not stop fraud, it begins us down the road to better detecting it at organizations. Technology needs to be paired with the human mind to make a new form, a bionic one, that stands the best chance to detecting fraud in organizations. With these concepts in mind, this article will present three simple tasks for consideration when establishing a bionic approach to fighting fraud. Task #1 is to establish proactive reports that work to identify expected fraud routines; the common fraudster. Task #2 is to use data mining to find fraud in those unexpected places and Task #3 is to proactively measure the employee psyche for signs of past, present, and future fraud.
For the rest of the article click here!
ABOUT THE AUTHOR Rich Lanza (CPA, CFE, PMP) enables organizations in the use of technology to (1) generate cash recoveries, (2) stop profit leaks, (3) move away from control issues, and (4) work towards process improvements. To contact Rich, receive his free e-newsletter, get a free diagnostic, or to order his products/services, e-mail him at rich@auditsoftware.net, call him at 973-601-3701, or visit his website at www.infomagician.com.
AuditNet® Review
Using Microsoft Access to Audit Payables for Fraud!
Accounts payable have always been a preferred target for fraud by employees. This CD-based CPE course from the Association of Certified Fraud Examiners will help you gain a clear understanding of the concepts used to audit payables for fraud with Microsoft Access® and why certain tests area more effective than others.
For the review click
AuditNet® Software Compliance Audit Corner
“Is Your IP Leaking?”
This new AuditNet® monograph focuses on the issues auditors face with intellectual property. If you are an auditor one of the tasks you need to do from time to time is audit and validate the list of intellectual property held by your organization. Never done this before? Then add it to your list of tasks to do as the issue faced in one specific area regarding Open Source software might alert you to some risks you have not known until now even existed!
For the new monograph click here!
Current Views on Governance and Compliance
Your Secret Weapon in the War on Fraud
The April 2005 issue of this fraud newsletter features articles on the essentials of successful kickback investigations, computer logs role in Sarbanes-Oxley compliance 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®.
Reviews
Manager’s
Guide to the Sarbanes-Oxley Act: Improving Internal Controls to
Prevent Fraud
by Scott Green
Auditors and public accounting firms are well aware of Sarbanes-Oxley and its implications for their companies or clients. The Manager’s Guide to the Sarbanes-Oxley Act as evidenced by the title is geared towards managers of small to mid-sized companies that may not have the benefit of internal audit or large CPA firm advice.
For the rest of the review click here!
AskSam: Making
Information Useful
In today's age of electronic information, there are huge amounts of data floating around. The Internet gives you access to mammoth archives of information. Wire services carry streams of press releases. CD-ROMs contain massive encyclopedias of text. The list goes on and on.
Somewhere hidden in the raw data is valuable knowledge but you must know how to distill the important news from the unrefined bulk. That's where askSam can help.
With askSam you spend less time searching for information and more time putting it to use. askSam increases the value of information by allowing you to present it in a manner appropriate to your specific needs.
For the review click here!
How to Say It When You Don't Know What to Say The Right Words for Difficult Times
By Robbie Miller Kaplan
As
auditors we constantly interact with diverse stakeholders such as
colleagues, managers, employees and others. Frequently we encounter
people dealing with challenging and difficult times that may or may
not be related to work. Our reaction to these situations is conveyed
in our behavior both nonverbal and verbal.
For the rest of the review click here.
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 an electronic copy of the book.
AuditNet® Partner Discounts Check out all the software vendors that offer
discounts to the AuditNet® community. AuditNet® It pays to be a member! For information on partner discounts click
here.
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