Policy Management

Senior management may have a vision and strategy for the organization, however without clearly communicating it to the personnel responsible for execution, it may never be successfully implemented. One of the key components needed to support a company’s strategy is to have a strong governance platform to set the ‘tone at the top’. A crucial […]

IPO Readiness: A Corporate Governance Perspective

While 2016 was a comparatively slow year for initial public offerings, the expectation for 2017 is much more positive as economies grow stronger. As members in the Private Equity and Investment Banking community know, filing the appropriate paperwork with the SEC is just one step in long process. There are numerous Corporate Governance considerations for […]

Internal Audit Checklist: Performance Management

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

Internal Audit Checklist: Purchasing Organization

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

IIA Standard 1312: Independent Quality Assessment Review of Internal Audit (QAR)

The Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing (“Standards”) Section 1312 requires that an external assessment of the internal audit department be conducted at least once every five years by a qualified, independent assessor from outside the organization. This external assessment evaluates the internal audit department’s conformance with the […]

Internal Audit Checklist: Customer Master Data

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

Internal Audit Checklist: Credit Management

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

Internal Audit Checklist: Sales Returns and Credit Notes

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

Internal Audit Checklist: Invoicing

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]

Internal Audit Checklist: Order Processing

In general, the objective of an internal audit is to assess the risk of material misstatement in financial reporting. Material misstatements can arise from inadequacies in internal controls and from inaccurate management assertions. As such, testing the validity of various implicit managerial assertions is a key objective of an internal auditor. While this applies to […]