Internal controls are the policies you put in place to keep your company's financial reporting accurate. If you sell shares to the public, internal controls have been mandatory for decades. The ...

If, through an internal financial audit, issues are uncovered or the information a company is able to provide is not the specific, higher-level information needed, it will delay the audit process, ...

Public companies are subject to all types of audits—especially when it comes to their financial record keeping. There are external audits of financial documents, as well as internal audits of the ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. When people hear the term internal controls, they often ...

A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

After more than 10 years of sounding alarms about the dangers of having internal audit report administratively to the chief financial officer, I must grudgingly concede my warnings have fallen on deaf ...

On 20 March 2024, K2 Integrity hosted a webinar on the implications of the recent updates to the Global Internal Audit Standards (“Standards”). The discussion included David Hyman, senior vice ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

MUNCIE, Ind. − A state audit of Muncie government finances during 2022 cited a lack of internal controls in recordkeeping of city revenue and expenditures, including proceeds of federal and state ...

The External Audit Committee (EAC) has three members, all of whom are independent of the IMF and its Executive Board. The EAC reports to the Board of Governors and is responsible for the oversight of ...