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 […]
audit
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?”
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.
A Higher Purpose
Many of us become emotional hearing stories about waste, fraud and abuse. It helps us remember our higher purpose as a government auditor.
Confessions of a Recovering Auditor OR Does He Win or Lose? Yes, He Does!
Confessions include be more confident and more precise when you make an assertion. Sample size has to go up and you must do more work.
Assessing Risk in the Government Environment
Auditors are used to assessing risk during external audits. In the governmental environment, auditors cannot look at just financial issues.
Confessions of a Recovering Auditor OR Ye Shall Know the Formula, and the Formula Shall Set Ye Free!
“The Formula,” in many ways, may be the only formula you really need: Sample size = Confidence x Variation / Precision!
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