IPO Readiness

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 […]

Performance Management

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 […]

Invoice Processing

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 […]

Sales Planning Audit

Internal Audit Checklist: Sales Planning and Target Setting

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 […]

Are You Leaving Intellectual Property Dollars on the Table?

Manufacturers work hard to track every piece of finished product; service companies are meticulous about knowing their human capital. But many companies with tight inventories in other areas fail to carefully manage their intellectual property—and that can be a costly error. There are two potential problems with a leaky intellectual property (“IP”) program. First, you […]

Social Networking Carries Real Compliance Risks

Written by Steven Randall and Veronika Fritz, Partners, Vonya Global Between all the bathing suit selfies and Worldwide Wrestling fan pages, social media seems, well, silly and inconsequential. It becomes less silly when the FDIC or FTC come knocking because they caught you sneaking an ad into your blog post, or an advisor made a […]

Baseline Testing: Benchmarking of Automated Controls

Written by Sargon Youmara, Partner, Vonya Global Baseline testing is a term used in accounting and audit to describe the testing of an automated application control. Once an automated application control has been tested and it is determined by an auditor to be effective, the auditor may conclude that the control remains effective over subsequent […]

New Norms For Reporting Fraud To The SEC

Written by Steven Randall, Partner, Vonya Global Prior to 2013, the Securities and Exchange Commission (SEC) had permitted companies in fraud cases to settle without admitting to any wrongdoing; this meant that even in serious cases of accounting fraud, companies could simply walk away without admitting their malfeasance despite the loss of millions on the […]

Breach Management: Best Practices and Policies

Written by Veronika Fritz, Partner, Vonya Global Cybercrime puts any business at risk—more so now than ever before, as the recent Target and Sony attacks emphasize. Cybercriminals are constantly working to find devious ways to destroy brands, disrupt operations, and steal information. Breach management policies are the key to addressing these growing cyber crime risks. […]

Guidelines for Auditing Ethics and Compliance Programs

Written by Steven Randall, Partner, Vonya Global Auditing ethics and compliance programs ensures that an organization “walks the walk.” This is the way any business can safeguard itself against fraud by seeing that the practices that exist in its daily operations match up with the procedures it espouses in its policies and code of conduct. […]