Don’t you just love it when the auditee won’t respond to your email? Or when your audit manager goes to a conference before finishing the review of your working papers? Waiting, I am afraid, is part of our job but you don’t have to let waiting get the better of you. Yes, of course, you […]
New Internal Audit Disclosure
An internal auditor following 2018 Yellow Book standards should add a statement to their audit report regarding their independence. This is new and I didn’t want you to miss it! GAGAS 2018 9.04 Audit organizations that meet the independence requirements for internal audit organizations, but not those for external audit organizations, should include in the […]
What is audit criteria?
Audit criteria is the standard that you evaluate the subject matter against. Without firm criteria, the auditee will likely resist your audit recommendations. I know I did when I was audited. Auditees might fight you over every statement in the report I was audited three times in a very short period because I was the […]
Performance Audit vs. Financial Audit
So how do you tell the difference? Performance audit vs. financial audit? You might expect that it would be as simple as saying that a financial audit deals with money and a performance audit does not. But oh no! The audit standards are never that straightforward. As a matter of fact, the most comprehensive audit […]
Has a compliance audit ever made you cray cray?
A compliance audit can be one of the most straightforward audits out there OR it can drive an auditor absolutely nuts. Since an audit is defined as the evaluation of a subject matter against a criteria, an auditor’s level of sanity hinges on how clear the criteria is. The GAO gives us a long list […]
Are auditing and monitoring different?
Yes, and no. Auditing and monitoring are very similar in their approach to gathering evidence and reporting, so sometimes it is hard to distinguish between the two. So close in fact, that many professionals are confused about which is which. Add that to wacky stakeholder expectations, and you end up with quite a jumble. Auditors […]
What are the Yellow Book CPE requirements?
One of the toughest aspects of doing a Yellow Book audit is complying with the Yellow Book CPE requirements. And the requirements are a little bit involved.
Choosing the Best Audit Test plus Audit Documentation – Video Course
Video Course
4 Facets of Government Corruption
While we auditors are busy designing our audits to catch fraud, we often bypass government corruption because it is so hard to prove. It’s easier for us to uncover the account clerk’s transfers into a personal account or prove that the executive assistant overcharged for travel expenses than it is for us to look at […]
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