|
|
||||||
|
|
|||||||
|
|
Adding up the key benefits of comprehensive monitoring By Steve Stanek, KnowledgeLeader contributing writer
Comprehensive monitoring technology can help diminish the big bad problem
of fraud. This technology provides companies the ability to
In this article, Patrick Taylor, Oversight Systems founder and CEO, discusses the concept of comprehensive monitoring and how to leverage technology to catch fraudsters in the act.
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 IDEA - Data Analysis Software, the standard in ease of use for auditors, accountants and financial managers.
Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. Career Advice Q&A
Building Relationships
author of How to Say it When You Don't Know What to Say: The Right Words For Difficult Times
We all know how important it is to cultivate relationships and yet it’s hard to strike up a conversation with folks we don’t know. Conversations begin with small talk, a conversation starter that is worth learning. Debra Fine, author of The Fine Art of Small Talk:, suggests strategies on how to overcome apprehension and master this skill.
For the Q&A click here! Resume Tune-Ups It’s not what you did but what you can do! by Robbie Miller Kaplan
Out of college just a few years, Michelle is an accounting professional with numerous credentials and two positions.
Michelle’s resume documents all her credentials in detail rather than selectively choosing and presenting her credentials based on how they relate to the positions she seeks. This is a problem because resumes work best when they detail the unique qualifications the professional brings to each potential employer.
For the rest of the tune-up and her resume 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 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 Adds New Pages for Chief Audit Executives, Benchmarking and more
AuditNet continues to add new pages and links for the benefit of the global audit community. This month look for pages under construction for chief audit executives, benchmarking and more. Can't find what you are looking for? Send me an email and I will see what I can find to meet your needs. While I may not be Google my experience in conducting net searches may locate what you can't find. As the least I can give you suggestions on where to look!
AuditNet Survey Results
Great information source. I am a one person audit shop and the resources really help.
AuditNet conducted a survey of users in January and the results are now in. Almost 90% of users come for the audit programs. 88% of the visitors are registered users or subscribers. 84% of visitors belong to the IIA, 35% belong to ISACA (more than one response was allowed). Regarding other subscription based sites 15% use KnowldegeLeader. More that 73% do not use any other subscription service. Additionally we asked users what they like about the site and how we could improve. The details of those responses are being analyzed and will be used to improve services to AuditNet users. Thanks to the more than 200 auditors who responded!
If I am tasked with an new audit, I like a starting point. By reviewing the audit programs online, I can see if I missed anything in my audit program and improve on my work by the knowledge shared.
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. There are over 85,000 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®. 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 CornerFraudster 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 ZZZ Best on FMN tells how he fooled auditors and what they could have done to detect the fraud. 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.
|
||||||
Interview by Robbie Miller Kaplan 
, Robbie Miller Kaplan will select one
auditor resume each month and suggest ways to transform the resume
from passable to powerful. 
|
Microsoft, of course, is huge. That computer on your desk probably contains at least one Microsoft product. The firm has almost 80,000 full-time employees with offices in more than 100 countries and thousands of vendors. Like many burgeoning global corporations, it has to seek staffers with integrity. But even with the best hiring practices, no entity can ignore the possibility of fraud in its ranks.
|
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.
ACFE FraudInfo Newsletter click here!
Dan's Internal Audit Corner
Is Your Organization Serious About Tackling Fraud?
- By Dan Swanson
Some companies have far lower levels of misappropriation of assets and fraudulent financial reporting than others. Why? Because they aggressively take steps to prevent and detect fraud, end of story.
At these exemplary companies, management takes seriously its ethical
responsibilities for designing and implementing systems, procedures and
controls to catch fraud—and, along with the board of directors, for
promoting a culture and corporate environment that demands honesty and
ethical behavior.
There are three important questions regarding fraud...
Click here for the questions and links to 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.
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
SuperStrategies 2008 April 14-16, 2008 Las Vegas - JW Marriott Resort
* indicates events where Jim Kaplan is speaking
Click for a recent (free) example of
EDPACS
The free example issue includes:
1) The State of IT Auditing in 2007
- by Gary Hinson.
2) Why is Security a Software Issue?
- by Julia Allen.
EDPACs call for articles (PDF)
EDPACS Editorial Board (current membership)
EDPACS subscription page
______________________________________
 PricewaterhouseCoopers helps you "Uncover the Gap" in process performance through Global Best Practices® complimentary benchmarking opportunity
How can you uncover the gap between your
organization's current performance and the suggested, more optimal way
to perform the process? Benchmarking can often help provide the answer.
|
by Mike Blakely
One of the challenges facing IT auditors is the need to provide database query support for others within Internal Auditing. This support can include helping auditors extract or obtain data from corporate, departmental and local databases. Often, one or both of the following approaches are taken:
1. Conduct training sessions on how to query databases, including training in SQL and the techniques to use SQL.
2. A specialist obtains the data directly for the auditor.
Although the first approach sounds good, not only is it often
resource intensive to develop and deliver the training, but all too
often, the material learned in the training session is quickly
forgotten, especially if not used on a regular basis.
The second approach is also resource intensive for the specialist, who is often already overloaded. And all too often, the first database query leads to the second, and so forth.
For the rest of this article and the solution 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
Breaking Down Data and Putting It Back Together
Five easy steps show you how to tame your spreadsheets.
by Richard Lanza, CPA/CITP
Before performing analysis on your data, you have to get it into a format you can easily work with. Oftentimes that’s more easily said than done.
For an annual budget download file to be sorted, summarized or even totaled for example, the data must be laid out in a tabular format (imagine an Excel™ spreadsheet with data filling every row and column) with a header line (in row 1) listing all of the names of the columns. While many accounting packages now allow for Excel exports, they sometime show up in a printed report format that looks great coming out of a printer but terrible when analyzing the data in software packages.
To read the rest of this article click here!
Cost Recovery Survey
This survey is being completed to assess the focus of audit departments on cost recovery efforts. The results will be posted on AuditNet.Org in an upcoming article.
Click here to take the survey!
Upcoming Webinars and Events
How to Reduce the Cash Leakage from Your Procure-to-Pay Function - April 24, May 5, and May 8, 2008
Podcast: Profit Recovery: Vendor Relationship Auditing Steve Bragg author of Accounting Best Practices
Cash Leakage Best Practice Seminars
How to Reduce the Cash Leakage from Your Procure-to-Pay Function: A Best Practice Approach Seminar
April 24, 2008 Chicago, IL
May 5, 2008 Philadelphia, PA
May 8, 2008 Online
For more information and registration click here!
Make sure you mention AuditNet when registering for the above
events! Audit Work Programs Corner
AuditNet has the most comprehensive list of audit work programs, questionnaires, checklist and control matrices for auditors of any site on the Internet, bar none. Access to more than 1,300 free audit program section requires registration. Access to an additional 500+ audit programs is available to registered premium subscribers at a cost of $100 per year (less than $.20 per program). Corporate multi-user licenses are also available. More new audit programs are added each month.
Don't want to subscribe to the premium content? All of the premium content audit programs are also available on a one for one exchange. Select which premium program you want and send an original audit program that you can share and if the program area is not already covered in the inventory you will receive the program requested by return email after responding to a due diligence request.
By the way if you are a member of the AHIA or subscribe to KnowledgeLeader you have access to free and premium content without having to register on AuditNet.
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 original programs submitted).
Subscribers
also receive an e-book at no additional cost
The following audit programs, ICQs, checklists or working papers were added this month
- International Reserves-Oil & Gas (Mar 08)
- Maintenance & Integrity Management-Oil & Gas (Mar 08)
- Payroll Work Program-Oil & Gas (Mar 08)
- Pre-Assessment Survey - Customs (Govt)
- Payroll Audit Program-Telecom (Mar 08)
- Retail-Complaint Handling (Mar 08)
- Retail-Order to Receipt Customer Management (Mar 08)
- Retail-Warehouse Inventory Management (Mar 08)
- Retail-Warehouse Labor Management (Mar 08)
- Retail-Warehouse Management (Mar 08)
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: Consideration of the probability of error, irregularity or noncompliance
I'm looking for guidance on how to assist my Internal Audit function to apply the IIA standard regarding "consideration of the probability of error, irregularity or noncompliance" (Standards 1220 and 2210) in the audit planning phase.
Under what circumstances is it appropriate and not appropriate to consider the probability of significant error?
Is it relevant only to financial based audit work and substantive testing of transactions/balances, or is it appropriate for all audit test work?
How has this standard been applied in practice?
A: (Thanks to Ferdinand Balfoort) I would suggest that the auditor should at all times consider the probable risk of any significant error, irregularity or non compliance in the planning phase.
During the planning phase you would design your systems descriptions and identify key controls and apparent weaknesses. Using your own assessments you would then develop your audit program or adjust any existing ones. Preferably all key controls and all weaknesses should be tested for, firstly to confirm the existence and operation of controls, and in the second case to measure the extent and impact of the weakness identified by substantive, preferably unbiased statistical sampling.
If you have a time or resource limitation you could conceivably drop off some items, which is where your assessment of materiality comes in, ie, which key controls or weaknesses pose the greatest risks in terms of a probable significant error.
This is relevant for all types of audits and reviews. For example, if in a pharmaceutical manufacturing scenario the internal control of regularly calibrating dosing meters breaks down, we could conceivably end up poisoning patients with off spec medicines. Although this may look like an operational or engineering maintenance issue, the reality is that any subsequent recalls, loss of brand value, risks of legal suits etc, would definitely affect the financial situation of the organization.
Another example is in the financial sector. Testing an internal control to ensure that private banking client files are complete and secure may seem like a very mundane exercise until you realize that those files are the key evidence to prove that Anti Money Laundering regulations have been complied with, in terms of doing a proper due diligence on any new private banking clients.
More discussion on this question can be found at LinkedIn Answers for auditing by clicking
here.
For those auditors who have not seen the power of using a networking group, I recommend a visit to LinkedIn
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.
Contract/Agreement Formats - Critical Terms and Conditions
Terms and conditions in construction contract/agreement formats are considered to be legal documents. Thus, it is important that the conditions be drafted by legal experts to ensure that the terminology is valid, binding and enforceable in a court of law, if need be. The legal practitioners are expected to ensure that the terminology and conditions contained therein protect the interest of the party on whose behalf the formats are to be designed. The legal practitioners are also expected to ensure that all aspects relevant to the scope of construction works comply with laws of the country and the relevant local authority requirements where the project works is to be located and also of any relevant industry practices and standards. The scope of these terms and conditions relevant to works includes aspects in which the legal practitioners may not have the relevant knowledge and thus it is essential that they obtain the advice of other professionals, especially those with technical and financial expertise. The format should contain all the terms and conditions that are effective and relevant to the scope of works.
For the rest of the article 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.
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
|
Click here for a special offer and late-breaking software compliance news!
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!
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
Exceeding Expectations for Internal Auditors
AuditNet® Resource List
Please let us know of links that are not working!
Click here for the latest update!