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Accounting for International Operations and Unexpected Events
Unexpected events and disasters have befallen companies time and again as they increasingly expand into foreign countries with manufacturing facilities, customer support services, or to tap into new market opportunities. The range of unexpected events that could happen is extensive. This article reviews the six most significant unexpected events that accountants need to be aware of in order to help their companies adequately prepare.
Click here 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.
Recession Special! Get 10% off AuditNet® Community Sponsor News!
Thanks to Paisley and TeamMate for sponsoring the newsletter!
Industry Leadership Opportunity
AuditNet and RuleSphere invite public comments and commitments of support regarding our Global Audit Advisory industry initiative described herein. This document describes the industry boards that manage and oversee the industry requirements across the broad market segment known as Governance Risk Compliance (GRC). It is these GRC requirements that now make up AuditNet’s Audit Work Programs (AWPs).
For details please click here!
The theme of this month's newsletter is Business Continuity and Disaster Recovery Planning The Auditor's Role and you will find articles and links to resources focused on that subject. Next month's theme is internal control. If you have an article or resource on the theme please send it along to the editor.
Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. AUDITNET® SURVEYS
AuditNet Launches a New Survey on Fraud Detection/Investigation and Controls Monitoring Software Usage by Auditors
Please click here to take the survey!
According to David Coderre in the foreword to the Buyer's Guide to Audit, Anti-Fraud, and Assurance Software by Dean Brooks, Mort Goldman and Richard Lanza, "... As part of continuous improvement, auditors should be periodically reviewing the demands of their job and the tools and techniques that can help them." The new survey looks at some of the tools that auditors and the companies they work at are using to detect and investigate fraud and continuous auditing or controls monitoring. AuditNet is hosting a Webinar on March 16, 2010 led by Rich Lanza on how to choose the right fraud auditing software and how to get the greatest return on your investment optimizing the software’s fraud loss reduction capabilities. The preliminary survey results will be released in the Webinar.
Help us by taking the survey now!
Internal Auditor's Role in Detecting and Preventing Fraud Survey Closed
We have the results of the Internal Auditor's Role in Detecting and Preventing Fraud and will publish the conclusions next month. The summary is now available to all AuditNet visitors. Click here for the summary!
Previous Surveys
Auditors Role in Fraud Detection Sarbanes-Oxley and Internal Audit
AuditNet® What's New This Month? From the Editor!
Fraud Training Vendor Sponsorship/Advertising Opportunities
AuditNet® and FraudAware have teamed up to offer Fraud Audit Skills Training (F.A.S.T.) to auditors and financial professionals. The training format is via a four-part series of paid Webinars. Due to the unexpected success of our inaugural Webinars we are now offering vendors the opportunity to sponsor these events to reach our members and subscribers. Our marketing efforts reach over 100,000 auditors and financial professionals for each event. Contact webinars@auditnet.org for more information!
AuditNet begins adding new content to the Basic Subscription Level
Effective September 1, 2009 AuditNet begins adding new content to the basic subscription level. This increases the value of the basic level as content for this section has not changed since 2006. We added CICS Essentials Auditing CICS A Beginner's Guide and a Signature Authority Matrix Template. Watch for new additions each month!
AuditNet has established new networking opportunities for auditors through social networking sites such as LinkedIn, Google Groups, Ning and more. LinkedIn's Professional Audit Information Network has over 2,700 members. What a great tool which includes group discussions, news and the opportunity to network with other professionals around the world!
AuditNet is currently building fraud analytics into audit work programs to provide auditors with a new tool for compliance with the standards. We will also be working on a monograph on Building Fraud Detection into the Audit Process.
New audit programs are also now available. Subscribers may access these documents now.
AuditNet articles will now include the ability to provide feedback and comments. We are looking at a way to rate audit programs as well. Stay tuned!
AudiTalk, AuditNet's redesigned free discussion forum site went active February 1 with many new categories. Visit the new forum, register and begin sharing with your peers. The forum is moderated so no spammers are allowed.
Contest: Where in the world is Jim Kaplan? The picture will change periodically so check back for your chance to win free access for a year!
Send your answer to WITW.
Congratulations to Jodell Rogers who correctly identified the picture from last month as being taken in Helsinki, Finland in front of the Jean Sibelius monument.
AuditNet is working on several fronts to enhance the audit programs and incorporate audit content into other software applications. One of these applications will offer Software as a Service (SaaS) solutions to requirement management. AuditNet has always supported new solutions and has encouraged start ups and other software vendors to enhance their products for both the mainstream as well as the small internal audit functions. We will continue to seek out opportunities that offer the global audit community new ways of doing business.
Communication Tips Don’t sell yourself shortby Robbie Miller Kaplan
author of How to Say it When You Don't Know What to Say: The Right Words For Difficult Times Illness and Death and How to Say it in Your Job Search
Since your résumé will get a quick scan, you might wonder, “Must I limit my résumé to one page?” When it comes to page length, the question really is, “Do you have credentials and accomplishments that can fit on one page?” And if not, you’ll need a two-page résumé.
For the rest of the story click here!
What Not to Do in Times of Loss
A young woman who was eight months pregnant gave birth to a stillborn baby. Overcome with grief, she called her supervisor and requested he notify her colleagues by e-mail so she wouldn’t have to individually tell her devastating news. It seemed a simple request, but when she returned to work, she learned her supervisor did not notify her colleagues and they were each stunned when she painfully shared the news. Not knowing what to say or do, they avoided her and she felt shunned and alone in her grief. After a few months, she quit her job and left the organization.
For tips on what not to do click here!
Follow Robbie Kaplan @How2SayIt.
Visit the Comforting Words blog for helping friends and colleagues get through tough times! 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 continues to forge new relationships with professional associations and audit and accounting sites to provide auditors with access to audit work programs.
Group Access to AuditNet Audit Programs.
Join the other groups such as CCH TeamMate, Protiviti KnowledgeLeader and the Association of Healthcare Internal Auditors that have access to all of the AuditNet audit programs.
If you want your group or 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 or group leader 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.
Subscription Expired? In January 2009 AuditNet implemented a 30 day free trial for users. Previous registrations were given an amnesty until May 2009 at which time they were also given a 30 free trial. At the end of the free trial registered users have three options for access; 1. a basic level subscription for $12, 2. a premium level subscription for $125 and 3. contributing audit documents in lieu of payment for a subscription in what is known as ASAP. If your subscription has expired you will not be able to login and access until you choose one of the above options.
The registration login system is an internal control implemented by AuditNet to ensure that only registered and paid users have access to the AuditNet content.
The best way to find all the resources on the site is by going to the AuditNet Library or use the site search.
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Robbie Miller Kaplan 
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Neil Barofsky walked into an enormous, historic job when he became the
special IG for TARP last year. But he knows that his relentless push for
transparency and dogged pursuit of fraudsters will protect his bosses -
the American taxpayers.
When Neil Barofsky was sworn into office on Dec. 8, 2008 as the new special inspector general of the Troubled Asset Relief Program he knew he would have to be an IG like no other. One hyperbolic editorial writer said Barofsky's position would be a "Sisyphean task." You might remember King Sisyphus of Greek mythology who had to repeatedly roll a huge boulder up a hill only to watch it roll back down through eternity. |
For the rest of the article from the latest ACFE Fraud Magazine click here.
This article is from Fraud Magazine, the professional magazine
of the Association of Certified Fraud
Examiners
ACFE FraudInfo Newsletter click here!
Coming Attractions!
A site redesign is in the planning stage. We are looking at migrating to the Microsoft.net platform which will facilitate maintenance and site look and feel while increasing security. We are also adding new programs to both the basic and premium content. The partnership with ACL will reap data analytic enabled audit programs. We will also be incorporating new content from other software vendors that will help users with data analytics and fraud.
AuditNet continues working on 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. We are currently working on new guides for Sarbanes-Oxley, internal controls and Internet for auditors, Key Performance Indicators for Internal Audit, Business and Transaction Cycles and Digital Audit Knowledge Resource Guide. 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, digital analytics tools and techniques and more from contributors. Reviews are in the works for more audit 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.
Recovery Auditing: Reducing Profit Leaks
Watch for a review of Rich's latest book!
AuditNet® Software Compliance Audit Corner
Has the audit switch been turned off by your IT department?
In many sites the software audit function is, or has been turned off (and
sometimes on again, then back off again, even at the "big iron" end of town
for Tivoli, Tangram, UniCentre, Centennial, SMS etc) due to the enormous
amount of data gathered, lack of skilled resources (staff) to write the MOF
files or poorly defined selection criteria in scripts or higher priority
issues (fire fighting) such as network degradation etc.
We can tell some real horror stories about "what hasn't been happening" but our client base don't like us "airing their dirty washing in public".
For the rest of the story click here!
TRANSPARENCY, ACCOUNTABILITY and
AUDIT
Subsidiaries and Associate Companies
By Gursharan Singh
It is common for Commercial, Industrial, Trading, Plantation, Construction, Property Development companies [‘Companies’] to have some of their business activities to be implemented through the establishment of separate companies known as Subsidiaries or Associated companies [‘S-A’]. The ‘Companies’ with ‘S-A’ are referred to as Holding Companies [‘Holding Companies’]. The justification and objectives generally provided to the investing public include cost-effectiveness, cost-efficiency, better internal control/monitoring and better management and to take advantage of the several tax exemption, benefits, incentives, or perks such as low rates for acquisition usage conversion of real estate, exemption from prescribed procedures/approvals, etc. that may have been provided by the Government of the country in which these ‘S-A’ are to be established and could result in substantial cost savings and guarantees for funds invested in the activities of the proposed ‘S-A’.
For the rest of the story click here!
Global Audit Advisory for BioPharm
Industry News (Premium Subscribers)
Our Life Sciences industry cluster is now looking for industry leaders to
help us roll out the Global Audit Advisory (GAA) and the Industry Change
Control Board. If you have interest in becoming an “industry leader” please
contact Phil Wilson at
phil@rulesphere.com. Phil would also like to hear from you if you are
interested in the Cross-Industry cluster, the Insurance cluster, the Retail
Cluster, or the Public Sector Cluster. If you are not a part of any of
these, but would like to see your industry served with our unique GRC
requirements capabilities… please contact us. We’d be very interested in
helping you help us!
Beta Testing of GRC Convergence and Oversight Courseware Content (Premium Subscribers)
We are in the process of rolling out a complete curricula for GRC
Convergence and Oversight. Much of our educational content relates to audit
best practices. If you are a Premium subscriber and would like to sign up
for one of our beta seminars over the web at no charge, please contact Phil
Wilson at phil@rulesphere.com.
For more information click here!
AuditNet Career Center
Job Listings
Find a Job or Find the Right Auditor
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® Vendor News
Check here for the latest news from our AuditNet® sponsors!
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.
3rd Annual Optimizing Critical SOX and MAR Strategies in the Re/Insurance Industry April 12/13, 2010, Boston, Ma
Internal Audit Innovation Forum April 19th-20th, 2010,
Amsterdam (12% Discount Extended for AuditNet Viewers!)
5th Annual Internal Audit & Risk Management
26-27 Apr 2010 Singapore
IIA International Conference June 6-9 Atlanta, Georgia*
* indicates events where you can meet Jim Kaplan
We need to build security into all our technology solutions!
By Dan Swanson
My first column for 2010 combines the highlighting of my favorite security newsletter, Gary Hinson's monthly security awareness newsletter, with the raising of a very fundamental IT management issue, that is, are you making your security challenges less or more going forward?
As most people realize we need to implement effective security by building it into our IT systems, not bolting it on just prior to implementation. Some resources to assist your understanding of the many issues involved and suggestions to move us forward are provided below.
A key question for 2010: Does your organization incorporate security as part of its software acquisition process and its system development life cycle (SDLC) process? – and what can be done to make it even more “integrated”?
In closing, I welcome hearing about the critical issues facing your organization and some of your “lessons learned” in tackling them, please contact me at dswanson_2008@yahoo.ca.
For the rest of the story 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®.
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Audit Analytics and Continuous Monitoring
Technology best practices with pre-scripted analytics
By Karen Kronauge, CIA, MBA
Audit and finance professionals
consistently report in industry surveys that they
understand the benefits of audit analytics. The vast
majority of these audit pros realize that employing
analytic-enabled audits is a matter of best practice.
But despite this widespread awareness, many
organizations struggle to implement sophisticated data
analysis and continuous auditing and monitoring
programs. For the rest of the story click here!
New AuditNet® Partnership Gives ACL Customers Access to AuditNet® Premium Content
Network Tools & Resources Help Audit Teams Deliver Greater Business Assurance Vienna, Virginia - December 1, 2009 - AuditNet® LLC, an online audit resource and communications network today announced that it has entered into a partnership with ACL Services Ltd., the leading global provider of business assurance technology for audit and compliance professionals, As part of the AuditNet ongoing commitment to providing exceptional value, this agreement will provide ACL premium support customers access to AuditNet® premium content. ACL is developing a set of data analytic enabled audit programs that will be made available to AuditNet subscribers. Working with leaders like ACL AuditNet® enables greater business insight by extending the integration of analytics into audit processes.
Read the complete press release! Protiviti Launches SOX Insight Survey
Protiviti’s 1st Annual
Sarbanes-Oxley Insight Survey
Looking for a Columnist for GRC
If you have an interest in governance, risk and compliance and would like to share your experience with the AuditNet community let us know. We are looking for a features columnist for this section. Audit Software Survey 2009
As a new decade dawns, survey shows how Internal Audit has adapted to technology through widespread use of audit softwareBy Jim Kaplan CIA CFE
Some people say the first decade of the 21st century ends this week. Others say it extends until the end of 2010. Either way, the past 10 years were a momentous period for technology.
Larry Magid CBS News
As the decade comes to an end, audit departments look a lot different than they did ten years ago. Digital technology has changed the way auditors work. Audit software or computer-assisted audit tools and techniques are no longer limited to large audit organizations operating in a mainframe environment. Since the introduction of personal computers, audit software vendors have developed solutions that will fit any size internal audit department. As the audit community has adapted to technology, over the past decade we have seen an increase in the types of applications being employed within audit departments. AuditNet® recently conducted a survey of the global audit community to determine how auditors are using audit software for two major tasks; managing the audit function and data analytics.
For the survey conclusions and details click here! Webcasts and Webinars for Auditors
Technology versus Fraud: Getting Maximum Bang for Your Audit Software Buck
Early Bird pricing only $75 (until February 28) p.s. the bonuses are worth more than that
Learn from one of the world’s top experts how to choose the right fraud auditing software and how to get the greatest return on your investment in detecting and preventing fraud in the internal audit function.
The 4th in our popular series of "Auditing for Fraud" Webinars will provide you with the latest analysis of the main types of internal and external fraud threatening organizations now and in the future and give you the “nitty gritty” on how to choose and use the best audit software programs for detecting and preventing these costly financial crimes in your organization.
Webinar. March 16, 2010, 2:00PM-3:15PM CPE: 1.5 hours
FREE WITH YOUR PAID REGISTRATION! 3-month AuditNet Premium Subscription and ...
Special Presenter: Rich Lanza (CPA, CFE), president
of Audit Software Professionals, has more than 15 years
of experience in the audit and assurance technology
field and has become one of its leading authorities.
Webinars You Missed:
1. Fraud in Tough Times: How to Audit for Costliest Schemes Threatening Your Organization Now
2. Auditing for and Preventing Fraud in Accounts Payable Wednesday, December 2, 2009
3. Internal Auditing and Fraud: How to Meet the New Fraud Detection Standards January 20, 2010
Missed the above events? You can now purchase the recorded events and slides. Risk Management and the Financial Crisis – What Audit Has Learned and How Technology Can Help (Webinar Replay)
Fraud Detection and Prevention: Protecting Your Assets, Your Integrity and Your Future (Webinar Replay) AuditNet ExclusiveCICS Essentials Auditing CICS – A Beginner’s Guide
A thorough Audit Guide for CICS is
something that is long overdue. This document provides a
wealth of information about CICS, its operations, and
its various Various documents on AuditNet and other sources have taken a stab at parts or all of CICS, but are likely not up to date or sufficiently complete. CICS largely remains an environment that holds its mysteries against auditors and security officers alike. The results of poor understanding can lead to dangerous levels of unidentified risk to the applications and sensitive information of entities that use the power of CICS for critical business applications.
This guide is available to AuditNet Premium and Basic subscribers.
What's New at AuditNet®
February 1, 2010 (Oakton, Virginia) The AuditNet LinkedIn Networking Group Surpasses 4,000 Members. On January 20, 2010 the AuditNet LinkedIn Networking Group reached 4,000 members. The group was launched in December 2007 and has grown steadily. There are 72 discussions and 20 job postings as of January 29, 2010. Some of the most lively discussions are as follows:
If you are not a member of this group I would encourage you to join by clicking here! If you are a member of the group start a discussion, participate in a discussion or view the sub-groups we have started including Oracle ERP Auditors, Mainframe Audit, and Telecommunications Audit. If you are interested in starting a sub-group send your idea(s) to info@auditnet.org
January 1, 2010 (Oakton, Virginia) Beginning January 1, 2010 ACL premium customers will have access to AuditNet premium content.
AuditNet Announces a Webinar Sponsorship Program
September 1, 2009 (Oakton, Virginia) AuditNet adds value to the Basic Level 1 subscription by adding new content. Each month AuditNet will add new content to the entry level subscription for users. For $12 a year you can access over 1,300 audit programs and also take advantage of new content each month. Where else on the 'Net can you find this value for $1 a month?
The AuditNet® Auditors Sharing Audit Programs is a unique initiative created by AuditNet that offers you the option of sharing original audit content in lieu of payment to gain access to the AuditNet subscriber only sections. For the details of this unique and original program offered by no other audit related subscription service click here!
Prior News Items and Links Using social networks for audit. Recently the IIA has
posted a discussion in LinkedIn on how auditors are
using social networking. Remember that AuditNet took the
lead in raising awareness in the audit community. AuditNet has a group on Facebook. Visit
AuditNet.org on Facebook
now and join
your colleagues for professional networking. AuditNet
has created a group for
auditors on the NING social networking site. You can
find the site at
http://auditnet.ning.com/. I invite auditors to join
by going to
http://auditnet.ning.com/main/invitation/new.
Join now and begin reaping the benefits of AuditTalk, and the AuditNet GANG an YANG discussion forums and networking for the global audit community! AuditNet Finalizing the AuditNet Guide to Internal Audit Charters
AuditNet has a draft of the The AuditNet® Guide to Internal Audit Charters. This monograph represents the professional guidance on audit charters as well as format examples from various organizations. If you are interested in reviewing the draft send an email to info@auditnet.org. New monographs are in process on Key Performance Indicators for Internal Audit, Business and Transaction Cycles and Digital Audit Knowledge Resource Guide. If you would like to submit a proposal for a topic please send it to auditnet @ gmail.com
AuditNet® Fraud Auditing CornerFraud 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.
Fraud Risks for 2009 Engagements
Gary D. Zeune, CPA
Much has been written about auditing in compliance with the Risk Assessment Standards – most of it focusing on financial statements. But there’s a fundamental flaw in focusing almost exclusively on the statements. Think of business as a ball game. The financial statements are like the scoreboard, they tell you who won and lost the game, but the statements don’t tell you how the game was played. How the game is played is reflected in financial statements. So, failure to understand how the game is played results in clean opinions on materially misstated financial statements.
For the rest of the story click here! Managing Fraud in a Downturn
This publication has a series of fraud related articles that auditors and fraud examiners should find interesting. This is an independent report from Special Report Publishing distributed in the Daily Telegraph. AuditNet® received special permission to offer this report to the global audit community!
Click here for
Managing Fraud in a Downturn! |
Sarbanes-Oxley News and Views
Breaking News! Small Firms Get More Sarbanes-Oxley Time
The SEC will give small firms (less than $75 million in shares) until June 2010 to comply with S-Ox. Small companies were slated to start complying by December 2009.
What are Some of the Best Practices in Managing the Audit Function?
SOX Television is an Internet Television Network that covers every aspect of the Sarbanes-Oxley Act and the related areas of governance, risk and compliance. Along with its sister network, Risk Television, it reaches more than 300,000 financial, governance, risk and compliance professionals worldwide.
Audit Work Programs Corner
30 Day Trial to the Premium Section
Access to the free audit program section now requires registration. The following documents 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 a subscription in lieu of cash? (Offer only available for new programs submitted).
CCH
TeamMate users have access to all the AuditNet audit programs in
TeamStores format. Access through the TeamStores support site.
E-Book for
Subscribers to the Annual Audit Programs
AuditNet has begun offering Analytic Enabled Audit Programs (AEP) which include steps for using data analysis software such as ACL. If you have a program that uses data analytics and would like to share we will add it to this new category.
Automotive Audit Program Package (Following 1-9 are all in one Excel file with a separate worksheet for each area)
- Accounts Receivable (Feb 2010)
- Audit Project Time Budget (Feb 2010)
- Customer Invoicing (Feb 2010)
- Financial Audit Local Government Program(Feb 2010)
- Handheld Audit Program Guide (Feb 2010)
- Internal Audit Function Review (Feb 2010)
- Inventory Management Audit (Feb 2010)
- Physical Inventory Observation (Feb 2010)
- Production Process (Feb 2010)
- System Development and Program Change Control Government (Feb 2010)
- AuditNet Monograph Auditor's Guide to Internal Audit Charters (Draft)
Coming Soon
- Timesheet Template 2010
- Bidding
- Check Kiting
- Collections (Banking)
- Construction Administration
- Construction Capital Investment
- Construction - Investment Review
- Construction Management Systems
- Contracts
- Fair Lending Risk Assessment (Banking)
- Foreign Corrupt Practices Act
- Gaming Operations
- Investigation Plan Documentation Form-Government
- IT Application Audit -Banking
- Mortgage Loan Master File Data Audit
- Repossessed Assets (Banking)
- Shell Company Schemes
- Service Contracts
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.
Signature Authority Best Practices
Q;
Do you have any information regarding the best practices for
signature authority for companies with international locations?
A: When
committing company resources, it’s required that all company
personnel adhere to a published signature authorization policy.
Often, company finance staff, headed by the CFO or controller,
assume, either knowingly or unknowingly, the ownership of the
evidence and the responsibility to comply with the company policy’s
internal control.
A signature authorization policy is part of the corporate governance and internal controls of companies. For publicly traded companies, the essence of SOX Sec. 404 is to evaluate and report on the effectiveness of internal controls over corporate financials. SOX establishes an internal control standard that is broader than generally accepted accounting principles.
A signature authorization policy ensures that
•Company transactions are properly authorized;
•Company assets are safeguarded against authorized or improper use;
and
•Company transactions are properly recorded and reported to permit
the preparation of the registrant’s financial statements in
conformity with generally accepted accounting principles.”
Many organization use a signature authorization
matrix. AuditNet has created a sample signature authority matrix
that can be adapted to any organization. The matrix can be accessed
by subscribers.
For more tips go to Ask the Auditor Forum for How Do I...
Submit a question for Ask the Auditor!
Release the Writer in You!
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® Fraud Audit Corner
4 Steps to Changing "Compliance Attitudes" in the current economic climate
News for auditors, SAM and ITAM professionals facing cutbacks in costs and resources.
If you are wondering how you are going to manage compliance having
your budget and resources cut in the current economic climate take a
look at the 4 key steps that can change attitudes to compliance!
-
Step 1 - Define an Acceptable Use Policy
-
Step 2 - Deploy the Acceptable Use Policy
-
Step 3 - Audit to the Acceptable Use Policy
-
Step 4 - Enforce the Acceptable Use Policy
Sometimes going back to basics is the best way to force the changes in attitude at the desktop you need to keep you compliant!
Click
here for the files that show you how. (Note: This is a low cost
solution for your compliance program). Mention you heard it through
AuditNet for a 20% discount if you use the following code when
placing an order.
QUOTE: AUDITNet_MJA1991
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® Book Reviews
Audit Programs with TopCAATs Tests
The developers of TopCAATs, the flagship product of Reinvent Data are writing audit programs that include tests using their software. They have graciously offered to share these audit programs with AuditNet®. These will be added to the subscriber area as they become available.
According to Charlie Walker, the founder of Reinvent Data;
The idea behind these is to look for ways that TopCAATs can be integrated into the audit, and to provide our users with practical ideas of how they can use the TopCAATs tools. One of the challenges that we have noticed with the adoption of CAATs is the application of the tools – many users find it difficult to adapt existing methods to using CAATs because they don’t know which tools to use in which situation. So, we are looking for existing traditional tests that can be adapted/improved by the use of CAATs (and specifically which TopCAATs tools to use).
If you have not already tried out TopCAATs, you can download a 30 day free trial of TopCAATs. You can also get a 20% discount on the cost of TopCAATs licenses by using the voucher code AUDITNET09”
RuleSphere in cooperation with AuditNet LLC is
developing Requirements Central
for GRC, the first
subscription-based Software-as-a-Service (SaaS) solution that addresses
sustainable compliance using the practice of “requirements management”.
Requirements Central will provide two primary mission-critical
program and project management capabilities for audit, financial,
information technology, and other professionals. If you are concerned
with managing Governance Risk Compliance (GRC) programs and projects
more successfully then this service will be of significant
interest.
Stay tuned for updates!
Free Tool for Monitoring Spreadsheet Usage
Help for the audit process: monitor and report use and access of spreadsheets across different folders on an on-going basis
Many organizations have more spreadsheets than they are aware of - often hundreds of thousands. Reporting which are active and how frequently they are changing can be difficult when they are spread across user workstations and multiple file servers - and with no central control because they are used by different groups and departments.
For more information click here!