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ASK (Auditors Sharing Knowledge) for Progress

December 2007

Prior AuditNet-L Newsletters

The AuditNet-l Newsletter is sponsored by:

PricewaterhouseCoopers TeamMate and Paisley

Join The Professional Audit Information Networking (PAIN) Group

"PricewaterhouseCoopers TeamMate is a database-driven audit management system that streamlines the audit process by providing integrated tools for documentation, report generation and file sharing."

FREE CHECKLIST: Ten Key Steps to Implement AS5
Key steps and recommended actions to implement the required AS5 standards. Download Today.

The 6th Annual Summit on Auditing and Governance 2007, December 3-4, 2007  New York, NY The Summit on Auditing and Governance is designed for practitioners by practitioners to tackle real-world concerns in corporate governance. The two information-packed days will demonstrate how companies deal with the challenge of effectively integrating compliance and controls into their organizations, while keeping costs reasonable and minimizing risk. Click here for more details: www.misti.com/corporategovernance

Fighting Corporate Fraud conference 12 – 13 February 2008, Brussels, Belgium
Join us at this forum and get your questions answered by industry practitioners and experts with international background. Hear practical case studies on how they tackle day-to-day issues linked to preventing, detecting and examining corporate fraud. Participate actively in the interactive discussions and benefit from networking sessions to make this event an excellent learning opportunity for yourself. 

Fraud & Corruption Summit 2008, 5-7 March, 2008, 'The Polar Star' (Polstjärnan), Stockholm.  The event will bring together as a team the disciplines of Internal Audit, Security, Fraud Prevention, Corporate Responsibility and Risk Management.

 

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job title, keywords
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city, state, zip

 

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 Accounting Procedures for Internal Control

  

IT Governance Frameworks Help Align Business and IT Interests and Objectives

By Przemek Tomczak, Protiviti Associate Director

In order for the CIO and his/her IT organization to move forward in today's challenging environment, IT governance is a must. Strong governance helps define and implement IT strategies, business strategies, and set priorities. In this article, Protiviti's Przemek Tomczak provides readers with a framework for designing a successful IT
governance program.

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® Community

Sponsor News!

 

Thanks to Paisley and TeamMate for sponsoring the newsletter!

The AuditNet® community has grown by leaps and bounds thanks to your continued support. Yes it is hard to imagine but it has been more 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 ACL Services Ltd. ACL provides Business Assurance solutions to financial executives and audit professionals worldwide. Combining market-leading software and professional services, ACL's proven solutions enable internal auditors to assure compliance, reduce risk, and minimize loss. ACL's global customer base includes 89 of the Fortune 100 and over half of the Global 500.

Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. 

Career Advice Q&A

How to Wow Them
Essential Tools for Effective Speaking

 Interview by Robbie Miller Kaplan

author of  How to Say it When You Don't Know What to Say: The Right Words For Difficult Times

As the workplace becomes reliant on technology, there is a continual need for professionals who communicate effectively. Savvy professionals acquire these coveted skills and distinguish themselves from the competition. Joan Detz, author of It's Not What You Say, It's How You Say It: Ready-to-Use Advice for Presentations, Speeches, and Other Speaking Occasions, Large and Small provides timeless strategies to help professionals deliver their message.

For the Q&A click here!

Resume Tune-Ups

Dig Deeper!

by Robbie Miller Kaplan

Wa’el uses a full page to list qualifications. While qualifications are the meat of resumes, Wa’el should devote no more than one quarter of the page to the most desired credentials. Information in the current “executive profile” could be fleshed out and used as achievements under each applicable work experience. Wa’el wisely indicates his credentials after his name; the education and professional designations can be shifted to page two.

For the rest of the critique click here!

Get a Free Resume Analysis!

AuditNet Adds a New Career Feature: The Resume Tune-Up.

Nationally recognized resume expert and author of  How to Say it When You Don't Know What to Say: The Right Words For Difficult Times, Robbie Miller Kaplan will select one auditor resume each month and suggest ways to transform the resume from passable to powerful.

If you would like your resume to be considered for a tune-up, please e-mail it to Ms. Kaplan. You will be notified by e-mail if your resume is selected. You will need to make yourself available via e-mail to answer a few questions with a tight deadline.  Ms. Kaplan will send a critique and suggestions to the individual selected and a summary Resume Tune-Up will appear in the monthly newsletter column.  If selected you give AuditNet the right to display your resume for the column.

AuditNet® What's New This Month?

From the Editor!

 

AuditNet Creates a New Networking Tool Through LinkedIn

 

The Linkedin Global AuditNet Information Networking (GAIN) Group was established in December 2007 and will be a popular networking resource tool for the global audit community. Tapping into the resources of AuditNet the goal of this group is for collaboration among auditors around the world. The synergy created by this network should benefit you as well as the organizations you work for.

Click here for more information and the link to register!

30 Day Trial Offer

AuditNet launched a 30 day trial offer for access to the premium content. Simply send in an original audit work program, register for access to the audit work programs and I will upgrade your access to the premium content for 30 days. You can extend this trial offer to one year by contributing four more audit work programs. 

AuditNet added 124 new audit programs over the last 12 months. Subscribe now or renew your subscription so you don't miss out on any updates to the inventory of audit programs.

Auditor's Dozen Renewal Offer

Have you let your subscription to AuditNet expire? If so then have I got a deal for you! Renew your AuditNet subscription by the end of the December and I will throw in an extra month on your subscription renewal. In other words you will get 13 months for the price of 12 or as I like to call it; the Auditor's Dozen. Process your renewal payment today as this is a limited time offer that will expire December 31!

AuditNet Server Upgrade

AuditNet moved the Web site to a dedicated server. Please be patient and be sure to report broken links that you encounter.

Pay by Phone or FAX

AuditNet is now set up to accept credit card payments for subscriptions by phone or fax. If you are interested in this option click here!

Writing for AuditNet?

AuditNet Editorial Guidelines

Based on the number of articles being contributed to AuditNet we have developed editorial guidelines for future submissions.  If you are planning to write an article please review the guidelines before submission.  We appreciate receiving material from the global audit community in the interest of sharing knowledge. We are also in the process of guidelines for book reviews and other material submitted for inclusion on AuditNet.

Get Audit Related Books Free!

Interested in developing your writing skills with having access to the latest audit and business related books? AuditNet is looking for auditors that would like to review books for the benefit of the audit community. This is an excellent way to build your professional publication library and provide a valuable service for AuditNet users. A list of available books will be provided on request.  For the guidelines click here.

New Benefits of Registration

AuditNet receives many questions on what kind of audit related information is available on the Internet and where to find it. As a result of my research to find the answers to those questions I discover value added resources that are useful for auditors. In the past these resources would have been added to the AuditNet Links Page (aka KARL). To provide an incentive for auditors to register on AuditNet I will begin loading these links to a special page that is only available to registered users.

AuditNet forges new relationships with professional associations and accounting sites to provide auditors with access to audit work programs.

Professional Association Access to AuditNet Audit Programs.

If you want your professional association (IIA, ISACA, ACFE, ACUA, ACUIA etc) to have transparent access to AuditNet audit programs and other content as a benefit of membership contact your professional association official and ask them to pursue this with AuditNet.

Fraud News Feed

Go to the AuditNet Fraud Resource Center and check out the fraud news feed to keep up to date with media reported fraud happenings. 

Audit Programs

The audit programs section of AuditNet requires registration in order to access.  New audit program contributions are available only to paid subscribers or on a one-for-one exchange basis. However 181 standard management audit programs were added this month to the free content thanks to Professor Andrew Chambers of the UK. There are over 65,000 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 premium audit programs 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.

The best way to find all the resources on the site is by going to the Virtual Library or use the site search.

IIA Technology Audit Guide Series

Guide 9: Identity and Access Management

Identity and access management (IAM) is a cross-functional process that helps organizations to manage who has access to what information over a period of time. This process is used to initiate, capture, record, and manage the user identities and related access permissions to the organization's proprietary information. Poor or loosely controlled IAM processes may lead to organizational regulatory noncompliance and an inability to determine whether company data is being misused.

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.

Previous Guides:

AuditNet® Fraud Auditing Corner

Fraudster Profiles

Looking for a great way to educate employees on how an ethical employee goes to the dark side, and the consequences of poor internal controls?

Check out the following video from one of Gary Zeune's speakers.

Master Fraudster Mark Morze on FMN

Gary Zeune has the ONLY speaker's bureau in the country specializing in white-collar criminals — The Pros & The Cons. Mr. Zeune's speakers tell their stories of how and they committed their crimes. Their frauds range from $18,000 to $350 million. Speakers include CPAs, attorneys, and business people.

 

Japan Works to Deter Fraud With 'J-SOX'
An interview with Prof. Shinji Hatta

By Dick Carozza

 

Since the turn of the century, Japan has seen a spate of public company debacles similar to Enron and WorldCom. The government directed Professor Shinji Hatta and his ad-hoc committee of economic experts to devise an internal controls framework that would radically change the country's discrete enforcement system and emphasize fraud deterrence, raise reporting standards, and repair credibility.

This article is from Fraud Magazine, the professional magazine of the Association of Certified Fraud Examiners and is a regular feature of AuditNet under a new cooperative relationships and partnership with professional associations in the interest of sharing resources for the benefit of the global AuditNet® community. .

For the rest of the article from the latest ACFE Fraud Magazine click here.

ACFE FraudInfo Newsletter click here!

Dan's Internal Audit Corner

Have you assessed your information security program lately?
- By Dan Swanson

Does your organization’s information security program reflect the business environment it operates in? Have you reviewed the latest guidance – to improve your information security program. Its time – to assess the improvement opportunities.

Click here for leading resources.

Have another great month
Dan

Also check out the latest IT and Information Security Titles Published by Taylor & Francis!

Have another great month.

Regards,

Dan

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). AuditNet supports co-marketing sponsorship agreements for conferences on a case by case basis. 

2007 ACFE Fraud Conferences and Training

2007 IIA Conferences and Training

Fighting Corporate Fraud conference 12 – 13 February 2008, Brussels, Belgium Request your FREE CONFERENCE BROCHURE by sending an email to Mr. Matej Mutis (matej.mutis@jacobfleming.com) or call him at +421 257 272 333.

Fraud & Corruption Summit 2008, 5-7 March, 2008, 'The Polar Star' (Polstjärnan), Stockholm.  For more information email cdoughty@mistieurope.com

* indicates events where Jim Kaplan is speaking

Registered User Free Tools

AMIGO (Audit Management and Information Guidance Software)

The Perils of Mount Must Read

SOXERM

AuditNet Monographs

Premium User Tools

Sarbanes-Oxley, IT and Management Audit Programs

The Auditor's Guide to Internet Resources 2nd edition

Procedure Guidelines and Controls Documentation

Cobit 4th Edition Domain Quiz

   
Global Best Practice Papers
 

What's new: Uncover the gap with a no-cost benchmarking survey

How can you uncover the gap between your current performance and the suggested, more optimal way to perform the process?
 
Each month for the next year, the Global Best Practices Uncover the Gap series will spotlight a benchmarking tool on globalbestpractices.com. Complete the featured survey and receive a report that will uncover the gap by comparing your operation and management processes against others--and at no cost to you.
 
Over the course of the next 12 months, you will have the opportunity to participate in 12 different benchmarking studies. Once you submit the information for the month's featured survey, you can expect to receive your results within five to seven business days. These surveys do not count against any limitations in your subscription; but remember--each tool will be available at no cost only during the month in which it is featured.
 
Global Best Practices is kicking off its Uncover the Gap series with its close-the-books benchmarking tool. You can use the following link to access the tool: Uncover the Gap.

Establishing a Repeatable Audit Process Using Excel

by Mike Blakely

Many organizations have recurring audits, either over time or over locations, or both. Examples include branch audits, inventory audits, store audits, etc. Often these audits will have narrowly defined objectives, which have evolved over time based upon prior results. Assigned staff may include entry level personnel with limited knowledge and experience. Turnover can also erode the knowledge levels over time.

The challenge is how best to leverage these resources so they can be used in the most efficient and effective manner. This article looks at two approaches, both framed in an Excel environment and both automated to the extent feasible.

For the rest of this article by Mike click here!

About the author: Mike Blakley is currently an IT auditor with the State of North Carolina, Department of Health and Human Services. Mike maintains a blog devoted to audit software topics at http://blog.ezrstats.com and his e-mail address is Mike.Blakley@ezrstats.org.

*Data Analysis Tools and Techniques for Auditors

Recovery Auditing: Reducing Profit Leaks

Si Nahra

Detecting Fraud in Health Claims

Health plan fiduciary, manager, administrator and internal auditor can now detect healthcare fraud.

by Richard Lanza, CPA/CITP and Si Nahra, PhD

Advances in computer technology and data mining software have revolutionized fraud detection in the health benefits area. Any interested health plan fiduciary, manager, administrator or internal auditor can now detect healthcare fraud. Data mining narrows the field of suspects to a manageable number by categorizing them through standard criteria. This analysis (complemented by human judgment) detects potential fraud that would have otherwise gone unnoticed.

Healthcare fraud takes many forms. Here are examples that illustrate how the tools of computerized data mining can be used to ferret out fraudulent behavior hiding within your midst.

To read the rest of this article click here!

Upcoming Webinars and Events

December 4, 2007 - FREE FIND MILLIONS Webinar

December 18, 2007 How to Save Millions - North Carolina All Day Seminar

Audit Work Programs Corner

Register Now!

30 Day Trial to the Premium Section

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.  Interested in previewing all the programs in the premium content section? Contribute an original audit work program not currently in the inventory and receive a 30 day trial subscription to the premium content. Contribute 5 programs and receive a one year trial subscription. (Offer only available for new programs submitted).

E-Book for Subscribers to the Annual Audit Programs

  1. Credit & Collection Financial Controls (Dec 07)
  2. Competency Management Human Resources (Dec 07)
  3. Corporate Performance Management Financial Controls (Dec 07)
  4. Procurement to Payment Cycle Transportation Management-Retail (Dec 07)
  5. Procurement to Payment Inbound Logistics Control (Dec 07)
  6. Procurement to Payment Invoice Reconciliation and Payment Control (Dec 07)
  7. Sales Order to Receipt Cycle-Retail (Dec 07)
  8. Succession  Planning Human Resources (Dec 07)
  9. Supply Chain Finance Financial Controls (Dec 07)
  10. Talent Acquisition and Retention Human Resources-Retail (Dec 07)

AuditNet® Information Security Corner

Protect Yourself from Hard Drive Leakage

by Rey Leclerc

Despite all the warnings, consumers continue to trade in or trash hard drives containing sensitive personal data. That's according to two Massachusetts Institute of Technology graduate students who found "significant personal information" on 49 of 129 still-functioning drives bought from used computer stores during a two-year period. The findings reinforce security experts' advice to physically destroy hard drives or wipe them clean before ditching them. The best way to do that is to write over old information with new, useless data several times.

Ask the Auditor

Each month I select one question submitted to Ask the Auditor and provide an answer using the same digital tools and techniques that I recommend to all auditors. 

Q: Can a fixed assets count be done at different times through the organization or should it be done at the same time to identify any transfers of assets between departments easily.

A: For best practices on inventory counts such as fixed assets I suggest using the following document:

Best Practices in Achieving Consistent, Accurate Physical Counts of Inventory and Related Property which can be found at this link.

Here is an excerpt that mentions when and what to count. In order to count an appropriate amount of the total inventory, management must decide which inventory items to count and how frequently those items should be counted. The most desirable goal would be to count all of the inventory items at least once a year. However, maintaining accurate inventory records by counting items takes time and costs money. Since there are typically limits on these resources, the best way to balance control of the inventory and cost of the count is to focus on the items determined to be more important or of higher risk to the organization. Accordingly, it is not always practical to give the same treatment to each item; it may be desirable to segment the inventory into identifiable classes and assess the risk for each segment or class to determine the frequency of counts.

If you have a question for Ask the Auditor click here!

Looking to Earn Some Extra $$?

AuditNet is interested in developing a series of SOx or industry related audit programs for organizations. If anyone is interested in writing audit programs, ICQs, questionnaires, or control matrices on a work for hire basis please contact me. If you may know of anyone who would be interested in this as well please pass along my contact information.

AuditNet Construction Corner News

Financial Safeguards in Construction Contracts

By Gursharan Singh

Clients normally provide for clauses in the contractual documentation pertaining to construction of works [buildings & infrastructure including maintenance] for financial safeguards to ensure against possible losses that may arise from claims due to poor performance of contractors and / or accidents resulting in injuries and damages caused to works/workmen and any third parties at the work sites or during construction.

For the rest of the story click here!

AuditNet Sarbanes-Oxley News

Low Cost SOX Compliance Readiness Tool
Exclusively for AuditNet

Looking for a low cost ($100) solution for SOX compliance? The Compliance Readiness Tool™ allows organization’s to evaluate the effectiveness of their information technology environment and controls in relation to section 404 of SOX and the Committee of Sponsoring Organizations (COSO) internal control framework.

For more information click here!

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.

Sox-Online

AuditNet Career Center

Auditors Looking for Jobs!

Companies Looking for Auditors!

The Matching Service for Auditors!

Go to the AuditNet® Career Center now for the latest job opportunities and career-related information and tools. 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.

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.

This is just another benefit of using AuditNet® as your one stop shop for all your audit and career resources.

 

AuditNet® Book Reviews

 

      

 

AuditNet® Software Compliance Audit Corner

Monograph on Software Compliance Auditing: Looking for a Career Change?

Registered users can read the complete monograph by clicking here!

Registered AuditNet users can send for 20 free software compliance articles. Login to your account and click on the link to receive the articles by email.

Also the following articles should interest you!

Microsoft has started a program recently in UK that has wide reaching implications for smaller and medium sized organizations, that auditors need to be aware of to minimize risk.

More details can be seen by clicking here!

Your Secret Weapon in the War on Fraud

White-Collar Crime Fighter brings you expert strategies and actionable advice from the most prominent experts in the fraud-fighting business. Each month you’ll learn about the latest frauds, scams and schemes... and the newest and most effective fraud-fighting tools, techniques and technologies you can put to work immediately to protect your organization.

Click here for the latest e-newsletter and subscription details.

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!

Need Help in Passing the CCSA Exam?

Then check out the CCSA Study System published by Pleier Corporation.

Using the "McKeever CCSA Study System" will improve users' probability of successfully passing the IIA CCSA exam by teaching users to answer the type of questions typically presented on the CCSA exam. Additionally, this system helps users identify CCSA domains that require their additional study and lists references useful for any additional study.

The "McKeever CCSA Study System" is available in 2 versions - a 288-page spiral-bound workbook and CD-ROM (for those who prefer clicking a mouse to turning pages) - for details click here!

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.
 

Click here for opportunities to share your knowledge and earn royalties

Check out Training on CD

A Practitioner's Guide to Corruption Auditing

Exceeding Expectations for Internal Auditors

AuditNet® Resource List

Please let us know of links that are not working!

Click here for the latest update!

Coming Attractions!

Benchmarking for Auditors

AuditNet is building a benchmarking network of resources for the internal audit community. Watch for new links and resources as well as opportunities to benchmark your audit function against others as well as tap into benchmarking and best practices resources and sites. There is a great deal of interest in this type of tool so stay tuned for updates!

AuditNet is working with professional associations to provide access to the audit program inventory. Stay tuned!

The AuditNet Monograph Series  provides useful guides for all levels of auditors from juniors right up to audit directors. As soon as I can make some time I will be working on new guides for Sarbanes-Oxley, internal controls and Internet for auditors and other relevant subjects. These guides will be available to registered 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, DATTA and more from contributors. Reviews are in the works for more audit and SOx books. 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.

Fraud News

Need to keep up with fraud news and happenings? There are several options available. One is to subscribe to the free ACFE FraudInfo E-newsletter.

Another free resource is the Auditing & Fraud News. Service for research professionals. Constantly updated news and information about Business & Companies. Go to FraudNet and click on the link Click Here for Fraud News.

           



 



Revised: January 14, 2008