Keep the drama on the stage and out of your audits! Ask these questions to determine if your subject matter is worthy of your attention.
COSO model
COSO vs. GAGAS
In 2018, the GAO asked us to evaluate the auditee against the COSO model of internal controls. Now in 2024, the GAO is asking us to apply COSO concepts to our own audit organization. Karma!
How Do I Teach My Clients About Internal Controls?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “How Do I Teach My Clients About Internal Controls?” Does your auditee recognize that they are responsible for internal controls? Leita shares tips on how to introduce your client to the COSO model without overwhelming them.
What Is the GAO Green Book?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question, “What is the GAO’s Green Book?” The Green Book’s formal title is Standards for Internal Control in the Federal Government and is a close copy of the COSO model.
Blending the Green Book with the Yellow Book
Objectives: Identify the purpose of the GAO’s Green Book. Distinguish between components of internal control. Distinguish between management objectives Choose a finite subject matter on which to apply controls Identify the auditor’s responsibilities regarding application of the Green Book Most of the changes between the 2011 Yellow Book and the 2018 Yellow Book that we […]
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