Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

Today many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control ...

If you don't have time to do it right, when are you going to have time to do it over? Consistent performance increases the reliability of operating transactions. Accounting operations are considered ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Internal controls are a major part of any modern-day entity ...

The mission of the College of Environmental Science and Forestry is to advance knowledge and skills, while promoting the leadership necessary for the stewardship of both the natural and designed ...

The Committee of Sponsoring Organizations grew out of a private sector initiative known as the Treadway Commission in 1987. COSO was tasked to develop and explain an integrated framework for the ...

COSO was adopted in 1992 as a framework for basis to design and then test the effectiveness of internal controls. In 2010, it was deemed necessary to update this framework, to provide a more ...

Compliance professionals constantly seek to understand how systemic issues within corporate hierarchies can lead to severe consequences. The recent revelations about Bank of America’s (BoA) persistent ...