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 ...

The AICPA Auditing Standards Board’s (ASB’s) plans to finalize a new risk assessment standard at its August meeting should be welcome news for many practitioners. Risk assessment is a fundamental ...

How auditors assess and respond to risks of material misstatement in the financial statements, including the risk of fraud, is a critical component of audit quality. New research supported by the ...

The cornerstone of an effective compliance program is a good risk assessment, and the cornerstone of a good risk assessment is a good process ...

In an era of increasingly sophisticated financial crimes and evolving regulatory, compliance, and internal audit needs, financial institutions must continuously refine their risk assessment strategies ...

The American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

An auditor must make key decisions regarding what controls to trust, what controls to inspect and what weight to place on all the tests associated with auditing the financial practices of a company.

Virginia Credit Union and its Member One division announced last week that it has named two executives to oversee risk management and the Chesterfield County-based credit union’s internal audit ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. This article is more than 3 years old. The internal audit (IA) ...

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 ...