fees for professional services

Weak Risk Management Leads to Internal Controls Deficiencies

Jeanette Franzel, board member of the Public Company Accounting Oversight Board (PCAOB), recently spoke at the American Accounting Association (AAA), according to The Wall Street Journal. She says audit-oversight inspections show a twenty percent increase (since 2013) in internal-control deficiencies of company audits. Inspections also indicate that 36 percent of company audits now have internal-control…

risk maturity model

How Do You Audit a Risk Management Program?

With so many risk management standards and government regulations out there that require risk assessments, how should internal audit evaluate the effectiveness of your organization’s risk management program?  How would you apply any one of these frameworks to an audit?  How do you meet the reporting requirements of so many external stakeholders from regulators to investors to…