KnowledgeLeader Blog

A Guide to Self-Assessment Value Proposition

Posted by Protiviti KnowledgeLeader on Mon, Oct 02, 2017 @ 06:40 AM

Self-assessment is a process through which an organization utilizes its internal knowledge to identify and assess uncertainties and the extent to which current practices are sufficient and appropriate to manage and achieve strategic objectives. Self-assessment drives the "tone at the top" down to process owners.

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Topics: internal audit, internal controls, entity-level control, self assessment

Comparing U.S. Sarbanes-Oxley (SOX 404) with Canada’s C-SOX (Bill 198) and Japan’s J-SOX (FIE)

Posted by Protiviti KnowledgeLeader on Mon, Sep 11, 2017 @ 07:50 AM

As a result of the infamous Enron and WorldCom scandals, the U.S. reacted with strict guidelines to re-establish confidence in the financial market. Commonly referred to as the Sarbanes-Oxley Act, or “SOX,” the Public Company Accounting Reform and Investor Protection Act of 2002 was implemented to protect shareholders and the general public from fraud and general accounting errors. SOX has come to be considered part of the total fabric driving reliable financial reporting, impacted by securities laws and regulatory oversight, exchange listing requirements, accepted accounting principles, effective auditing standards, accounting firm oversight, effective standards for audit committees of boards, and independence requirements for directors and auditors, among other things.

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Topics: Sarbanes-Oxley, internal controls, PCAOB

What Is Internal Audit’s Role in Cyber Security?

Posted by Katrina Opgenorth on Fri, Jun 09, 2017 @ 08:57 AM

Corporations today are thinking about how to protect assets. A few of the white collar crime problems include hacking/intrusions (cyber vulnerability), insider/outsider trading (convergence of cyber and financial crimes), the Foreign Corrupt Practices Act (FCPA), spear fishing (email compromise) and economic espionage. They must consider the possibility of internal corruption or external corruption, and environmental factors such as culture and competition contributing to these crimes. As protection, organizations can use cyber security, pen testing and data loss prevention tactics.

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Topics: enterprise risk management, internal audit, internal controls, risk assessment, cybersecurity, IT controls

Prep for the Fiscal Year-End With Our Sarbanes-Oxley Walkthrough Preparation Memo Template

Posted by Lark Scheierman on Fri, Oct 14, 2016 @ 08:20 AM

This particular memo struck a chord with subscribers last week. Last week it held the #3 spot in our Weekly Top 5, which makes sense as public companies are “in the throes” of preparing for their fiscal year-ends, typically involving compliance with the Sarbanes-Oxley Act.

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Topics: Sarbanes-Oxley, compliance, internal controls, SOX, IT controls, external audit

Internal Controls Checklist

Posted by Sharise Cruz on Tue, Feb 03, 2015 @ 09:13 AM

Each month, we'll be giving our social media and blog followers special access to download one of our most popular recently published tools. 

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Topics: internal controls, free tool of the month, expense reporting, accounting/finance, financial reporting, fixed assets, checklists, close the books

Internal Controls Checklist Sample

Posted by Sharise Cruz on Wed, Oct 08, 2014 @ 07:21 AM

Each month, we'll be giving our social media and blog followers special access to download one of our most popular recently published tools. 

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Topics: internal controls, expense reporting, accounting/finance, financial reporting, fixed assets, checklists, close the books

Updated COSO Internal Control Framework: The Bulletin, Volume 5, Issue 3

Posted by Aspen Plummer on Tue, May 28, 2013 @ 01:12 PM
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Topics: Protiviti, enterprise risk management, leadership, COSO Framework, COSO, internal controls

COSO Integrated Control Framework: Do the Changes Really Matter?

Posted by Sharise Cruz on Mon, May 06, 2013 @ 10:00 AM

In January 2013, the updated version of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Integrated Internal Control Framework (Framework) went into effect (http://www.ic.coso.org). If you’re wondering what this model is, you probably work for a privately held corporation or a non-profit, or are very new to internal audit.

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Topics: Sarbanes-Oxley, Ann Butera, Hot Issues, compliance, COSO, internal controls, risk assessment, entity-level control

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