Internal controls are business processes that provide reasonable assurance regarding several key business objectives: that the business is operating efficiently, that reporting is reliable and that ...

When I was in college, I had a course in internal controls taught by the professor my father had when he was in college. I don’t believe much has changed since my father learned about internal ...

Internal controls play an integral role in a company’s success, but many young accounting and finance professionals enter their careers without a clear understanding of their importance. I recently ...

IMGCAP(1)][IMGCAP(2)]Effective internal controls reasonably prevent material misstatements in financial reporting and fraud, but poor internal controls have hurt businesses, investors and the public ...

While management teams often concentrate on bankers, investor presentations and legal filings, one area can derail things ...

It stands to reason that accounting areas that are highly subjective and complex also are prone to fraud, errors, and breakdowns in internal controls. A recent study by the Anti-Fraud Collaboration ...

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

Analysis of the WH Smith accounting error, FCA inquiry, and the critical compliance failure in revenue recognition (IFRS 15).

Several years ago, the U.S. Securities and Exchange Commission (SEC) issued an order against a public company that raised more than a few eyebrows. In that order, the company settled to violations of ...

According to the settlement order, RRD is a global provider of business communications services and marketing solutions, and its information technology (IT) systems stored and transmitted sensitive ...

Internal accounting controls govern your financial system. "Management is responsible for developing and maintaining effective internal control," reports the U.S. Whitehouse Office of Management and ...