How do auditors obtain their evidence? They use one of seven different audit procedures including inquiry, observation and recalculation.
audit
Audit Program: Fresh vs. Canned?
Canned audit programs could include unnecessary procedures creating extra work for auditors. In most cases, writing a fresh audit program from scratch is the best way to go.
The Structural Threat
When auditors report to the auditee and not to the governing body, they are suffering a structural threat to independence.
Management and auditor responsibilities for internal control
Management is ultimately responsible for establishing and implementing internal controls. Both the COSO literature and the GAO’s Green Book make that very clear. But because auditors use internal control concepts extensively in their work, the line can get blurred regarding management and auditor responsibilities for internal control. You see, the COSO model and the Green […]
When do you apply the 17 principles of internal control on your audit?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “When do you apply the 17 principles of internal control on your audit?”
Auditors Save the World! Mary Modelski
In this episode of Auditors Save the World, podcast host Leita Hart-Fanta, CPA interviews auditing superhero, Mary Modelski. And now, coming to you from the YellowBook-CPE studios outside of Austin, TX, it’s time to meet Mary Modelski. Mary, the intrepid audit leader, wielding the mighty power of intention to uphold truth, justice and accountability! Today’s […]
Do I need an audit, a review, or a monitoring visit? What is the difference?
If you have doubts that your audit customer understands what you do and how important you are 🙂 , share this article with them: Plenty, my friend! Plenty. So, you think you need an audit? Or maybe you heard that you could get by with a review instead? Maybe you were asked to find someone […]
Internal Audit Independence
Common hurdles to internal audit independence include asking auditors to report to those who they audit and managing the entity.
Governments Are Freaky
Taking government clients on? Be warned you may need to adjust to a different sensibility to pull it off. Why? Governments are freaky.
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