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 ...

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 ...

The strategic management process is an approach to making major decisions on your company's future direction and strategy. You identify internal strengths and weaknesses, and external threats and ...

Internal Audit is an independent, objective, assurance and consulting activity, assisting the university in meeting its objectives and improving the effectiveness of risk management, control and ...

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.

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 ...

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 ...

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, ...