Understand Segregation of Duties and How to Create It
What is segregation of duties and how can you achieve it? In this post, I answer these two questions….
Vetting Information Technology Controls in Risk Assessment: SAS 145
Information technology controls (IT controls) are getting increased attention with the implementation of SAS 145, Understanding the Entity and…
Five Powerful Ideas to Test for Fraudulent Payments
Are you looking for ways to test for fraudulent payments? Here are five ideas.
Reporting Duties When No Internal Control Issues are Noted
This article tells you what to report when there are no internal control issues. I discuss AICPA and Yellow Book guidance.
Preventing Church Theft: Tips and Best Practices
Church theft happens, and it’s not uncommon–though I wish it was. Pastors, deacons, church members, priests, and even nuns…
See Why a Test of Controls Can be Helpful or a Waste of Time
Auditors sometimes waste precious time testing controls when it may not be necessary. But in some engagements, it may be needed.
Internal Control Weakness Reporting
Auditors often fail to capture and communicate internal control weaknesses, even though such communications are required by the audit…
See How Control Risk Affects Financial Statement Audits
Control risk continues to create confusion in audits. Some auditors assess control risk at less than high when they…
See How Management Override of Controls is Dangerous
Management can override internal controls, resulting in fraudulent financial reporting. Below I provide examples of management override of internal…