A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.

An internal audit helps a company ensure it has the proper controls, governance and risk management processes in place, according to the Institute of Internal Auditors. By nature, it's an independent ...

In response to a confluence of regulatory statements and standard-setting activities, companies, audit committees, auditors and regulators have increased their focus on internal control over financial ...

The Securities and Exchange Commission is proposing to limit the requirements under the Sarbanes-Oxley Act for audits of internal controls over financial reporting, making them apply to only the ...

Wharton's Daniel Taylor discusses his research on why proposed SEC changes on small firm audits could lead to more accounting scandals. The Securities and Exchange Commission proposed in May to exempt ...

The November collapse of cryptocurrency exchange FTX serves as a lesson of what happens when a corporation avoids internal audits of its own financial operations. A new article examines how such ...

Washington (March 10, 2004) -- The Public Company Accounting Oversight Board gave a thumbs up to a controversial new auditing standard that requires auditors to review and attest to the effectiveness ...

Today many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control ...

The new Internal Control—Integrated Framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) reached an important transition point this week. In May 2013 COSO issued ...

On September 15, 2026, the Financial Services Agency (FSA) published the "2026 Program Year Financial Administration Policy." This is a document outlining what the FSA will prioritize in financial ...

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish objectives by ...