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This month check out Galileo 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. For more information contact D'Arcangelo Software Services. Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. Assessing Risk in Travel & Entertainment or Procurement Card Programs The steady drip-drip-drip of small to medium purchases on a corporate credit card can quickly fill a large bucket of unnecessary - and even fraudulent - expenses. This article discusses how assessing corporate card program risk is an important piece of a company's risk management strategy. It also provides suggested steps to complete this risk assessment process. Click here for the rest of the story! This tool 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? This month we reviewed three new books. I added sections for Information Security and ISO. There is a new CD Store with training material from Pleier and Associates including discount offers for AuditNet users. The audit programs section of AuditNet now requires registration in order to access. New audit program contributions are available only to paid subscribers or on a one-for-one exchange basis. There are over 29,000 registered users. A multi-user subscription rate was added to the individual subscription program to the premium content. 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®. Site licenses are also available for organizations with more than 15 users. AuditNet continues to receive new books for review. 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 400 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 offers another medium for auditors to share their work to help the entire community. A page is also available for Expressing an Opinion on Internal Controls. 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.
Site Records for
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Most of us are daunted by a complicated case's massive quantities of data. But Frank Hydoski, an internationally recognized forensics expert, says take a deep breath, formulate the basic question of the case, use technology wisely, and don't forget your intuition. |
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.
Wrong Strategy + Wrong People = Fraud/Theft/Abuse
by Gary D. Zeune
Pretend you’re a small business owner: you spend years of hard work building your business, only to discover a long-term trusted employee is stealing you blind. Don’t think so? The average business loses 6% of revenue or $9 per day per employee to fraud, theft and abuse. And I’ll bet 6% of revenue is material to every one of you reading this article.
So what’s the best way to prevent someone from robbing you blind?
For the rest of the story click here!
Auditing and Fraud in Publics Schools - Recent News
This column will features articles and news on the topic of auditing in public schools. If you have an article or story link you would like to contribute please contact us.
Former Michigan School Official, Wife Arrested for Role in $7.3 Million Fraud Scheme
A former Michigan school official and his wife were arrested today for their alleged role in a fraudulent scheme to obtain almost $7.3 million from Ecorse public schools and the federal E-Rate program, the Department of Justice announced. A federal grand jury in Detroit returned an indictment yesterday against Douglas A. Benit and Mary Ann Elam Benit, which was unsealed today upon their arrests.
For the complete story click here!
Portland schools auditor quits over independence
(The Oregonian June 1, 2006)
Portland Public Schools' internal auditor is quitting after five months, saying district officials and the board didn't give her enough independence to meet professional standards.
Sarah Landis will step down Friday to take a job with Multnomah County, her former employer. The district's auditor position reports to the school board, but Landis said she'd been told to request information and run purchasing and training requests through the district's general counsel, Jollee Patterson. She said the arrangement compromised her watchdog role.
"I just didn't feel that they were ready to do the kind of independent auditing that I felt that they needed and that the board policy and charter ask for," Landis said Wednesday. "If I have to keep checking in with someone who doesn't serve at the board's will, who serves at the superintendent's will, that's really a conflict."
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).
9th Annual Risk Management and Internal Audit in Telecoms 2006 Sep 18-19, 2006 London, UK
This event uniquely addresses the current operational and functional concerns of risk and audit within an organization. It is a perfect opportunity to learn from major telecom operators how to promote internal audit coverage of all risks, understand what executives want from risk reporting and implement and maintain a simple and appropriate structure. Gain insight into these issues from our panel of top industry speakers as they deliver brand new, case study based presentations. (15% discount on all bookings before July 15, 2006)
2006 ACFE Fraud Conferences and Training
2006 IIA Conferences and Training
* indicates events where Jim Kaplan is speaking
AuditNet users qualify for a $20 coupon CORRUPT valid for online sales from May 15 to June 15 that discounts the $95 regular price. “Exceeding Expectations” contains 1 hour and
20 minutes of PowerPoint presentation with synchronized
digital soundtrack offering thought-provoking and practical
ideas about how Internal Auditors can exceed the
expectations of audit clients. This seminar offers
state-of-the-art thinking using state-of-the-art technology.
Receive all the benefits of attending a seminar at your
convenience in a suitable format for both group and
individual self-paced training. Opportunities to Share Your Knowledge and Earn Royalties Pleier Corporation is continually seeking
additional authors and titles to add to its growing list of
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http://pleier.com/authors.htm for details. A Practitioner's Guide to Corruption Auditing See http://www.auditnet.org/PleierCBT.htm for current listing of all of Pleier Corporation publications. CONSIDERING PUBLISHING Publish your own CD or DVD to share your knowledge with other professionals, earn royalties, and receive worldwide exposure. For additional information email jpleier@pleier.com or call Joe Pleier at (949) 830-1575. DISCOUNTS TO AUDITNET READERS As a reminder, Pleier Corporation offers 10 % discounts to AuditNet readers at www.pleier.com. To take this discount order online and enter the word AUDITNET in the coupon field at checkout. |
Coming Attractions!
AuditNet will host a career center for audit professionals that will provide articles, tips and resources for new auditors and those auditors climbing the career ladder.
Beginning in January all new audit programs became 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 books including The Joy of SOX and SOX for Dummies (no joke) 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.
Audit Chat
Questions from AuditNet Ask the Auditor
I am planning an audit of the marketing department. Where can I find resources to help prepare an engagement letter or memorandum?
Go to the AuditNet Library page and click on The Audit Process Step by Step and then click on Audit Planning. There are seven sample engagement letters available in Word format. You will need to modify them to include the objectives, scope and purpose of your audit as well as other relevant information. For general engagement letters I would recommend the CPA's Guide to Effective Engagement Letters from Aspen Law and Business.
Heard on the Net!
AuditNet® Tools for Conducting Searches on the Internet
Often when searching for information on the Internet auditors run up against a brick wall; the research resulting in a dead-end. Fear not for perhaps the most powerful aspect of the Internet is the ability to communicate with individuals on a one to one basis and find links to resources that may be able to answer the previously thought unanswered question. Internet meta-information or digital information sources make the Internet a veritable trove of data. Find a trade association or a link to a site that you think should have the answer and find a email link to a person. Send that person an email and tell them what you are looking for and perhaps they can point you in the right direction. Find an audit report online and then send an email to the issuing agency or department and asked for the contact information for the auditor in charge of the project. They may be able to answer your question and even provide you with a copy of the audit program! The possibilities for using Internet meta-information are limited only by your own imagination. Search skills are one of the core competencies of digital literacy and if you are not using Internet meta-information then you are not maximizing the power of the Internet.
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 contact us. Watch for more Internet boot camp tips from the auditing Internet guru!
Audit Work Programs Corner
Access to the free audit program section now requires registration. The following audit programs, ICQs, checklists or working papers were added this month. They are available on a 1 for 1 exchange for an original audit work program not currently in the inventory. If you unable to share audit programs then consider subscribing to the premium content which provides you with access free and premium content 24/7/365.
E-Books for
Subscribers to the Annual Audit Programs
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Blackberry Testing Matrix (June 06)
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Data Center Test Plan Physical Security (June 06)
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Inventory Control Objectives (June 06)
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Policy Implementation Risk Evaluation Schedule (June 06)
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Purchasing Practices Audit (June 06)
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Purchase to Payment Control Objectives (June 06)
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Risk Exposure Calculator (June 06)
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Sarbanes-Oxley Claims Testing-Workers Comp Insurance (June 06)
AuditNet Career Center
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
There are plenty of articles in the news on the topic of Sarbanes-Oxley. Here is a link to a site that does the research and provides you with links to all the relevant stories.
AuditNet® CAATT Corner
Four Trends to Look for in Compliance and Audit Software
What are the benefits of using compliance software? Companies speak out.
By Richard B. Lanza, CPA/CITP, CFE, PMP
Several new trends emerged that can help anyone interested in implementing compliance and audit technologies in the coming year. These trends were the hot topic at last week's New Jersey Automating Your Audit Department show, which brought together 20 of the top compliance and audit vendors.
For the rest of the story click here!
AuditNet® Book Reviews
AuditNet® Software Compliance Audit Corner
An Emerging Threat You May Not Have Counted On
This news is relevant for security and audit and management professionals in USA and around the world.
The Business Software Alliance (BSA) in USA announced in the last few days that it has increased its cash incentive (reward) to $US200,000 for information on software piracy that leads to an infringement settlement with software vendors. Of course there are conditions, but suffice to day many have already put their hands up to claim their cash prize!
The previous USA reward which ended on 28th February 2006 was $US50,000 (which was the highest we have known in the last 15 years) and it generated over 1,000 “reports” which means there are 1,000 organizations “under investigation”.
Will this reward scheme have any effect outside USA? It sure will, where organizations have a US parent and/or an offshore subsidiary or vice versa. It will also induce other countries anti-piracy bodies to offer rewards seeing the successes to date with reports flooding in.
The “anti-piracy net” could well widen to your country due to the
very size and nature of the reward scheme on offer. As auditors and
managers and chief executives in organizations you really need to take
notice of what is going on and make sure you are well protected!
Get the facts on the reward scheme from
BSA and
PCProfile.
If you want to know how they can knock on your door and seize your
assets (Can they do this ? Sure can!) read
this!
If you want to know more about what this “reward system” can do to both you your organization send an e-mail to pcprofile@internode.on.net and we’ll give you an inside rundown on the risks you face. They are really very substantial now that the stakes have been raised to this level! Wait until the music and the movie industry catch on to this reward scheme and see what sort of fun you will have then.
There are some very simple and pragmatic steps you can take to ease
the pain being created by this reward system. (besides taking a
headache tablet or 2 to calm your nerves).
Your Secret Weapon in the War on Fraud
The May 2006 issue of this fraud newsletter features articles on Management Override: Practical Steps for Reducing the Risk, What to do When You Suspect Internal Theft 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®.
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. Contact us for details.
AuditNet® Vendor News
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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!
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AuditNet® Resource List Updates
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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
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Design audit programs and program templates based on requirements
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Document work done in simple electronic audit work papers
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Document issues in a simplified issue format
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Print work papers, issues and report as required
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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.
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