The fundamental principles of internal control apply to large and small businesses alike. Every business requires some type of system of control measures as a means to protect assets and ensure that ...

On March 30, 2023, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), an organization comprising five private-sector organizations with the goal of helping companies ...

This post continues my exploration of internal controls and how companies can demonstrate compliance with the internal controls requirement under the Foreign Corrupt Practices Act (FCPA) by adherence ...

Internal controls are the rules, mechanisms, and procedures a company implements to ensure the integrity of its financial and accounting information, promote accountability, and prevent and detect ...

SARBANES-OXLEY REQUIRES MANAGEMENT to include an assessment of internal controls over financial reporting, using a suitable framework, in the annual report. While a number of frameworks are available, ...

Internal controls are measures adopted by the university to promote the thoughtful and efficient use of all resources. As an agency of New York State, the University at Buffalo is obligated to comply ...

Good internal controls can ensure a company has reliable financial information and efficient processes. The most successful systems of internal control integrate preventive, detective and corrective ...

The Institute of Internal Auditors' new practice guide for internal auditing shares some good insights, but falls short in a few areas. The Institute of Internal Auditors (IIA) has published a new ...

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 ...

The Comptroller General of the Republic has launched a new Internal Audit Unit (UAI) at the headquarters of the National ...

The Securities and Exchange Commission today settled charges with Entergy Corporation for failing to maintain internal accounting controls to ensure that its surplus materials and supplies were ...

Internal controls are necessary to prevent mishandling of funds, safeguard against loss and protect employees from inappropriate charges by defining responsibilities in the cash handling process. The ...