Jim Kaplan's
|
|
||||||
Audit
Programs
|
|||||||
|
|
Corporate Governance Certification
To get more information click here. 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 Protiviti KnowledgeLeader Internal Audit Community, a web-based internal auditing tool that will help you identify risks, develop best practices and add value to your organization. KnowledgeLeader provides internal audit tools, checklists, and templates as well as news and updates on the latest business risks and controls. Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. Revisiting Integrated Audit in Light of SOX With the Sarbanes-Oxley Act, major stock exchanges, the Securities and Exchange Commission, and investors all demanding greater corporate accountability and transparency, some companies are finding a need for "integrated auditing" to assess and address risks throughout the organization. Click here for the rest of the story! 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 $595 per year. Tell them you heard about it from AuditNet.org. AuditNet® What's New This Month? Registration Now Required to Access the Audit Programs Beginning last month AuditNet implemented a registration requirement in order to access the free audit programs section. AuditNet paid subscribers will have access to to the premium content in addition to the free programs. We added an Auditor's Guide to Privacy Resources as well as a CAATTs Script Library Exchange page. If you would like to review books please let me know as I could also use a fresh set of eyes! The AuditNet discussion forum page has over 300 registered members. There are threads for special interest groups, Sarbanes-Oxley and more. The more auditors that participate, the livelier the exchange so get connected and start posting! The AuditNet PowerPoint Presentation Library Exchange is ready and auditors have begun to share their work to help the entire community. A page is also available for Expressing an Opinion on Internal Controls. The corporate subscription rate was added to the annual subscription program. Organizations that need more than 2 staff members accessing the service will benefit from this new rate. There are new additions to the audit programs subscription service available as an alternative for those auditors that are unable to contribute material to AuditNet®. 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. AuditNet® Policies and Procedures Column Policies and Procedures Updateby Rose Hightower Policy Guru for APPLE Thank you to all who have shown support of the Policy Guru. In order to better serve you, when asking questions, please identify the company or type of industry and process you are referring to. Questions are still coming in about how to get started. The policy statement is often the most difficult aspect to determine. I find that unless the policy is driving the process, it is better to begin with the process, representing the current state. For the rest of the story click here! AuditNet® Creates A PowerPoint Presentation Sharing Library AuditNet® introduces a new sharing exchange library for audit presentations. Similar to the popular audit program exchange library, this page will provide sample actual training/briefing presentations from auditors. We encourage contributed material from the audit community. In light of the Sarbanes-Oxley demand this should be of great benefit to auditor communications to Boards and management. As with other AuditNet® services, together, we will build this page to serve presentation needs to shortcut the preparation process. If you have a presentation to share please send it to me for posting in the exchange library or provide the URL link where the presentation resides. Make sure you include the subject area such as: Sarbanes-Oxley I am encouraged by the initial response and believe that this concept will offer the same opportunities offered by the audit programs library by making sure that auditors do not have to "reinvent the wheel" or by facilitating the presentation process with a template starting point. AuditNet: Auditors Sharing Knowledge for Progress For the current additions and page click here!
Management of
Construction Contracts
|
||||||
|
Robert Wardle, director of the UK's Serious Fraud Office, tackles not
only the toughest cases but lengthy trials and mounds of evidence. A
veteran of the SFO, he juggles it with aplomb.
Robert Wardle's success often places him in a quandary. The UK's Serious Fraud Office (SFO), which he directs, tackles only the most complex and difficult cases. And since the Office's inception in 1988, it enjoys an 84 percent conviction rate. But those cases often guarantee lengthy trials, expensive costs, and sometimes confused juries. Wardle is determined to solve that problem and bring the worst UK fraudsters to trial. |
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.
New York State Comptroller
Pushes School Districts to Enhance Controls and Oversight
In response to taxpayer concerns, the State Comptroller’s Office worked with a coalition of school and professional organizations, including the New York State School Boards Association, the New York State Society of Certified Public Accountants, the New York State Council of School Superintendents, the New York State Association of School Business Officials and the State Education Department (SED) to develop policy solutions to improve the internal control structures in school districts and increase the effectiveness of financial oversight mechanisms.
As a result of these efforts, new State legislation was enacted in July 2005 that will strengthen auditing, training and financial oversight by school district officials and boards. The new law includes the following key provisions:
- Requires six hours of training for school board members on their financial oversight responsibilities.
- Establishes an internal audit function within each school district.
- Creates audit committees in school districts.
- Mandates a competitive RFP process for selecting audit firms at least every five years.
- Improves the effectiveness of annual external audits by requiring direct school board involvement and a formal response to issues raised in the audit.
For the complete story click here!
AuditNet Enterprise Risk Management
Beyond Sarbanes-Oxley
by Jim D'Arcangelo
Now that your organization's initial work for the U.S. Sarbanes-Oxley Act of 2002 is winding down, what will you do with your team of Section 404 experts? They have worked hard, going through exercises to support the certification of the company’s internal controls over financial reporting. The next logical step would be to leverage that investment and implement a total enterprise risk management (ERM) framework.
Click here for the rest of the story!
Fraud Survey Reports Corporate Fraud Still Widespread, Difficult to Detect
PricewaterhouseCoopers Finds 50% More Companies Report Financial Losses Since 2003
(NEW YORK/LONDON) 29 November 2005 – Rising economic crime poses a growing threat to companies, with nearly half of all organizations worldwide being victims of fraud in the past two years, according to PricewaterhouseCoopers' Global Economic Crime Survey 2005. The number of companies reporting fraud increased from 37 percent to 45 percent since 2003, a 22 percent increase. The cost to companies was an average US$1.7 million in losses from “tangible frauds,” those which result in an immediate and direct financial loss. These include asset misappropriation, false pretences and counterfeiting.
For the rest of the story 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. (A reciprocal link to AuditNet is required).
2006 ACFE Fraud Conferences and Training
2006 IIA Conferences and Training Seminars
* indicates events where Jim Kaplan is speaking
Pleier Corporation is still seeking
additional authors to publish on CD and earn royalties. |
E-Books for
Subscribers to the Annual Audit Programs
Note: The SarbOx Section 404 Compliance Tips for IT Managers was updated to reflect new compliance dates.
Heard on the Net!
AuditNet® Managing Expectations
The Internet is a powerful tool for auditors as it provides links to a vast array of digital resources. But I fear that many auditors look at it as the only place to look for audit related information. Auditors need to realize that there are other means to finding information and getting answers to questions. Often many visitors to the AuditNet site will send me an email requesting answers to elusive questions or links to resources that they could not find. What they all need to understand is that I don't have all the answers! I always keep my digital eyes open but I also rely on a network of contacts (both online and in-person) to help me find what I need to get the job done. You need to do that as well by sharpening your digital search skills and keeping your network of peers current. Recently I received a e-mail from an auditor that I have not seen in over 5 years that was looking for part-time employment. He was trying to connect with all his old contacts but it was apparent he had not created new ones. He had not been to an local IIA chapter meeting since he retired. I suggested that he resume going to meetings to find opportunities. It is critical to all auditors, young and old, to recognize that there is more than one way to approach an issue to find an answer. The Internet may be an easy fix but not always the best one.
A very Happy and Healthy New Year to all!
Thanks for your support and 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
Access to the free audit programs now requires registration. The following audit programs, ICQs, checklists or working papers were added this month to the subscriber section and are available to paid subscribers. If you are not a paid subscriber then they are available on a 1 for 1 exchange for an original audit work program contribution not currently in the inventory.
-
Audit Recommendation Follow Up Tracking Sheet (Jan 06)
-
EDI Audit Program (Jan 06)
-
Firewall Audit Technical Guide (56 pages) (Jan 06)
-
Fleet Operations-State (Jan 06)
-
Human Resources (Outsourced) ICQ (Jan 06)
-
Goodwill Audit Program (Jan 06)
-
Internal Audit Assignment Form (Jan 06)
-
Payroll Operations Test Audit Program-Healthcare (Jan 06)
-
Permit Centers-Government (Jan 06)
-
Software Compliance Audit Program (Jan 06)
Documents in the Queue!
Beginning in January all new documents are added to the Subscriber Section and will require a contribution exchange or subscription
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.
Sarbanes-Oxley Corner
Whitepaper: Controlling the Information Flow in Spreadsheets
By Vipin Samar, Sangeeta Patni
Extensio Software, Inc.,
There is no denying that spreadsheets have become critical for all operational processes including financial reporting, budgeting, forecasting, and analysis. Microsoft® Excel has essentially become a scratch pad and a data browser that can quickly be put to use for information gathering and decision-making. However, there is little control in how data comes into Excel, and how it gets updated. The information supply chain feeding into Excel remains ad hoc and without any centralized IT control. This paper discusses some of the pitfalls of the data collection and maintenance process in Excel. It then suggests service-oriented architecture (SOA) based information gathering and control techniques to ameliorate the pitfalls of this scratch pad while improving the integrity of data, boosting the productivity of the business users, and building controls to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act.
For the rest of the whitepaper click here.
Ask the Auditor Column
Q: We have one day in the field to visit a vendor managed data center and want to use our time effectively. This data center has recently received servers from some of our business units to manage. Outside of reviewing their SAS 70 and physical controls does any one have any creative thoughts on what could be covered in an audit?
For a suggest answer click here!
|
Making the Most of the Job Fair Experience By Robbie Miller Kaplan
Job fairs offer big benefits to job seekers. You have an opportunity to network, identify what employers are seeking in applicants, participate in actual interviews, practice your interview skills, and maybe - get a job offer! If nothing else you can apply what you learn to more clearly target your resume for positions of interest. How can you prepare and maximize the job fair experience? It’s helpful to prepare as if it were a job interview; bring along professional copies of your resume, practice responding to interview questions, and dress as if you were attending a job interview. You’ll make the best impression if you research the organizations prior to the job fair. Get a sense of what is going on with the organization. Are they expanding? Merging? Did they just receive a government contract? Launching a new product? If you have a sense of what is going on, you can craft an appropriate question or, you can read up on the organization to have an idea of who they are and then ask questions to share a bit of their own information with the recruiter or interviewer. How can you ensure a successful job fair experience? It's good idea to work the entire fair. Begin with organizations of least interest and work up to your top choices. You'll gain more confidence with each experience so you'll be in top form for your top picks. Prepare and introduce yourself to each employer with a 30-second introduction; include what you have been doing, what you are looking for and the skills and experience you want to use. Always collect business cards and definitely follow up with employers that you interviewed with if you are interested in them. You can also solicit feedback on your resume to ensure it is a strong as it can be. While waiting in line, read some of the brochures you pick up or an industry publication. And don’t just network with employers; network with other applicants. Find out what they are looking for, share a lead with an organization that is not a fit but may fit the applicant, and visa versa. Follow up with individuals you met so you can expand your network. You never know where or when the perfect lead will materialize; make sure you don’t miss it. |
AuditNet® CAATT Corner
What Holds Back Implementing Audit, Anti-Fraud, and Assurance Software….and How To Fix It
Rich Lanza, CPA, CFE, PMP
Why doesn’t everyone have a comprehensive suite of audit software tools?
In researching the 2005 Buyer’s Guide for Audit, Anti-Fraud, and Assurance Software, we looked at more than one hundred software products and spent over 500 hours analyzing them. In nearly every product area we found a similar story: auditors are slow to adopt professional software created for their needs. The largest single share of work in any category was typically being done using Word, Excel, and e-mails which is memorialized in survey after survey.
In this article, we will focus on three key reasons why this situation prevails.
-
Too many new products out there, particularly SOX-related.
-
Getting data and doing analysis are too difficult.
-
Not enough time, people, or money, especially for enterprise-level solutions.
For the rest of the article click here!
AuditNet® Book Reviews
AuditNet® Software Compliance Audit Corner
PCProfile Offers Discounted Prices to AuditNet® for the Software Compliance Toolbox©
The Software Compliance Toolbox
provides detailed information and guidance on how you can manage
software compliance affairs across the whole organization with a large
set (over 70 articles) of self help articles that are based on audit
experiences and knowledge gained over 15 years in this industry. To
gain this level of detail most sites traditionally engage
consultants at expensive hourly rates to gain the same level of
awareness. The details in the Software Compliance Toolbox (templates,
policy, declarations etc, resources and tools) are designed to enable
sites to "do it themselves", saving costs all round by focusing on
getting back to business basics.
For AuditNet special pricing click here!
Your Secret Weapon in the War on Fraud
The December 2005 issue of this fraud newsletter features articles on securing sensitive secrets, travel and expense fraud best prevention and detection strategies and more. The January 2006 issue features articles on confidential hotlines, compensation systems driving employee fraud and more. AuditNet® users qualify for special rates on this publication. For more information click here.
Fraud Awareness Free Pilot Program Available for AuditNet® users
FraudAware is a unique interactive on-line awareness course designed to help managers and line employees recognize the red flags of accounting fraud, embezzlement, theft of trade secrets or confidential customer data, vendor and payroll schemes, identity theft and more. Customizable to your specific risk management policies and procedures and code of conduct, FraudAware also directly supports compliance with the whistleblower provisions of Sarbanes-Oxley by equipping employees with the awareness and knowledge necessary to make effective use of the new law’s mandatory fraud reporting hotline.
AuditNet.org and White-Collar Crime 101 LLC, developers of FraudAware, are pleased to offer Free Pilot programs of the FraudAware course for up to 20 managers or line employees at your company.
For information on this program go to www.auditnet.org/fraudaware.htm
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®.
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.
AuditNet® Vendor News
Check here for the latest news from our AuditNet® sponsors!
Paisley Consulting press releases
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.
AuditNet® Resource List Updates
Please let us know of links that are not working!
AuditNet® Statistics
For those who like to wade through the details on how popular AuditNet® is, click here for the current stats.
Amigo in Spanish means "friend" and this new audit documentation tool could help the AuditNet community. Auditors are always looking for new tools to make their jobs a little easier. I was pleasantly surprised when I received an email from an auditor that developed this audit documentation tool. He advised that he was making this tool available freely to the AuditNet community. AMIGO, the Audit Management and Information Guidance Software is a simple audit documentation software for the individual auditor. It allows internal auditors to
-
Design audit programs and program templates based on requirements
-
Document work done in simple electronic audit work papers
-
Document issues in a simplified issue format
-
Print work papers, issues and report as required
-
Generate reports
AuditNet will work with this auditor to add features and improve the system. All we need is your feedback on using the system.
To get your copy of AMIGO click here!
Free Tools for Audit Program Subscribers
Sarbanes-Oxley Enterprise Risk Management Software
SOXERM is a small and user-friendly, but powerful database which documents in a convenient format the key internal controls of your company. The main purpose is to give a cost-effective answer to the new Sarbanes-Oxley (SOX) requirements by providing adequate documentation to the Audit Committee and the External Auditors that the Company has identified, reviewed and addressed the main risks, is constantly monitoring them and taking appropriate action when required. The software requires Lotus Notes and is free to AuditNet Audit Programs Subscribers.
Coming Attractions!
Beginning in January all new audit programs will be available only to annual subscribers. Subscribe now to lock in the subscription rate for 2006.
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. These guides will be available to subscribers. If you are interested in developing a monograph on a contract basis, contact us.
Watch for new articles on Sarbanes-Oxley, Information Security, Software Auditing, CAATTs, and more from contributors. Reviews are in the works for audit books, Sarbanes-Oxley book series from Wiley and more. 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.