Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

An AICPA committee leader testified last week at the public hearing by the Department of Labor’s ERISA Advisory Council, “Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process.

What is the purpose of audit planning if the audit may not ultimately follow the carefully thought out plan? As may be inferred from Dwight D. Eisenhower’s words—”Plans are worthless, but planning is ...

Auditors "can provide feedback on the effectiveness of, and suggestions for improving, processes and controls in place related to fiduciary responsibilities and efficient and effective plan operations ...

The retirement plan audit is, for most plans, an annual occurrence, but it can still strike fear into the hearts of many—especially those selected for a random audit. It is also a process during which ...

Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

Each year, the Chief Audit Officer develops an audit plan for the University. Using a risk-based methodology, and in collaboration with University leadership, the Chief Audit Officer analyzes ...

An audit can be an unpleasant surprise, or it can be a welcome opportunity to get your organization's affairs in order. While some audits – such as those performed by the IRS – come as a surprise, ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...

Cost audits ascertain whether all of the processes of a business are managed effectively, and if there are areas within a company's business structure that are wasting resources. Cost auditing ...