Jim Kaplan's
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Corporate Governance Certification
To get more information click here. AuditNet® Community Sponsor News!
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This month check out Pentana, produces software for audit professionals, including integrated risk and audit management, staff scheduling and information security questionnaires. Remember! Clicking on sponsored ads and visiting their sites helps support AuditNet®. Getting
Controls Right and Automating Them
First-year Sarbanes-Oxley endeavors were, by necessity, somewhat limited in terms of efficiency and effectiveness. This article suggests that companies should now move towards automated controls, otherwise they will continue to see only minor decreases in their costs related to internal controls and compliance. Click here for the rest of the story! This tool was contributed by Protiviti KnowledgeLeader, an online service providing tools, templates, and other resources for internal audit and risk management. Free trials available at www.knowledgeleader.com. For a limited time KnowledgeLeader memberships are available for the reduced rate of $595 per year. Tell them you heard about it from AuditNet.org. Get a Free Resume Analysis! AuditNet Adds a New Career Feature: The Resume Tune-Up. Nationally recognized resume expert and author of How to Say It In Your Job Search, Robbie Miller Kaplan will select one auditor resume each month and suggest ways to transform the resume from passable to powerful. Send your resume to Ms. Kaplan with Resume Tune-Up in the Subject line. Ms. Kaplan will send a critique and suggestions to the individual selected and a summary Resume Tune-Up will appear in the monthly newsletter column. AuditNet® What's New This Month? AuditNet has teamed with the Quality Assurance Institute and Internal Control Institute to offer online audit training at a low cost. Get quality CPE at a cost you can afford! For those of you who are starting an audit function, check out the Internal Audit Manual. Dan Swanson, a senior security and internal audit professional will now provide his list of recommended resources for AuditNet readers. The audit programs section of AuditNet now requires registration in order to access. New audit program contributions are available only to paid subscribers or on a one-for-one exchange basis. However 181 standard management audit programs were added this month to the free content thanks to Professor Andrew Chambers of the UK. There are over 38,000 registered users. A multi-user subscription rate was added to the individual subscription program to the premium content. Organizations that need more than 2 staff members accessing the service will benefit from this new rate. There are new additions to the premium audit programs available as an alternative for those auditors that are unable to contribute material to AuditNet®. Site licenses are also available for organizations with more than 15 users. The best way to find all the resources on the site is by going to the Virtual Library or use the site search.
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We can't fight an enemy that we don't know. The Institute for Fraud Prevention, directed by Dr. William K. Black, is striving to build a statistical foundation that will increase the global body of knowledge and improve anti-fraud efforts. |
This article is from Fraud Magazine, the professional magazine
of the Association of Certified Fraud
Examiners
For the rest of the article from the latest ACFE Fraud Magazine click here.
New Exchange Group Formed for Law Firm Internal Auditors
The internal audit function is a relatively new concept to law firms and only within the past few years did law firms begin to develop or consider such a program. This Internal Audit Exchange Group was borne from a desire to share ideas amongst professional managers at law firms, national and international, on how to approach and perform internal audits on processes and functions specific to the industry and environment and improve internal controls. The group consists of internal audit and finance managers of law firms, that range from having well established to non-existent internal audit programs. We hold meetings at least twice a year via conference call and often invite speakers from public accounting firms or related industries to address the group on various topics. Our next scheduled meeting will take place via teleconference on September 26, 2006. Please join other law firm auditors as Anthony Chan, CPA, of Berdon LLP speaks about
- Impact of Sarbanes-Oxley on the Law Profession
- Client Billing - Ability to Prevent and Detect Over-billing or Fraudulent Billing
The conference will be held from 1:00 - 3:00 p.m. (EDT). Mr. Chan has extensive accounting experience with law firms. He advises on clients on internal controls and building compliance in risk management. If you are interested in participating, please contact Karen Watkins at kwatkins@mofo.com.
Auditing and Fraud in Publics Schools - Recent News
This column will features articles and news on the topic of auditing in public schools. If you have an article or story link you would like to contribute please contact us.
AG: County can look at school finances, not performance
Opinion fails to address whether Seven Locks audit was within IG’s
authority
Montgomery County’s inspector general may look into the school system’s finances but needs consent to investigate how the school board makes decisions, the state’s attorney general said last week.
For the complete story click here!
Audit Finds Good
Financial Practices at
Deposit Central School District
A Comptroller’s audit of the Deposit Central School District found good financial management practices, State Comptroller Alan G. Hevesi’s office said today.
The audit of the Deposit School District, which covers the Towns of Deposit, Masonville and Tompkins in Delaware County and the Town of Sanford in Broome County, is part of a statewide effort by the State Comptroller’s office to improve oversight and fiscal practices at schools. The initiative began in response to widespread theft and other questionable actions that came to light in several school districts on Long Island in 2004.
For the rest of the story click here!
For more school and local government news from New York State click here!
AuditNet® Conference & Training News
Want to announce your professional association conference to the global audit community? Send us conference name, date and URL details. (A reciprocal link to AuditNet is required).
Continuous Sarbanes Oxley Compliance -
Best Practices for Sustainable SOX Compliance, Sep 12-14, 2006 New York,
NY
9th Annual Risk Management and Internal Audit in Telecoms 2006 Sep 18-19, 2006 London, UK
IIA Mid-Atlantic Region District 1 Conference, October 19 & 20, 2006 Virginia Beach, VA
This event uniquely addresses the current operational and functional concerns of risk and audit within an organization. It is a perfect opportunity to learn from major telecom operators how to promote internal audit coverage of all risks, understand what executives want from risk reporting and implement and maintain a simple and appropriate structure. Gain insight into these issues from our panel of top industry speakers as they deliver brand new, case study based presentations. (15% discount on all bookings before July 15, 2006)
2006 ACFE Fraud Conferences and Training
2006 IIA Conferences and Training
* indicates events where Jim Kaplan is speaking
AuditNet Training for Auditors
AuditNet has teamed with the Quality Assurance Institute and the Internal Control Institute to offer you the following online cost-effective audit-related courses. The courses cost from $30 to $90 depending on the course and provide 1 to 3 continuing professional education units. An easy way to get CPE!
For a list of course offerings click here!
AuditNet users qualify for a $20 coupon CORRUPT valid for online sales from May 15 to June 15 that discounts the $95 regular price. “Exceeding Expectations” contains 1 hour and
20 minutes of PowerPoint presentation with synchronized
digital soundtrack offering thought-provoking and practical
ideas about how Internal Auditors can exceed the
expectations of audit clients. This seminar offers
state-of-the-art thinking using state-of-the-art technology.
Receive all the benefits of attending a seminar at your
convenience in a suitable format for both group and
individual self-paced training. Opportunities to Share Your Knowledge and Earn Royalties Pleier Corporation is still seeking
additional authors to publish on CD and earn royalties. |
Coming Attractions!
Watch for the new AuditNet Monograph Series New Auditor Orientation Manual available next month to registered users.
Beginning in January all new audit programs became available only to annual subscribers. Subscribe now to lock in the subscription rate for 2006.
One of the frequently asked questions I receive pertains to internal audit manuals. AuditNet has arranged for a free trial for users of an excellent Internal Audit Manual that follows the IIA guidelines. The link should be available in September 2006 to all registered users.
AuditNet will be working with AccountingWeb to provide readers with knowledge feeds to deliver digital content directly to AuditNet users. Watch for details.
The AuditNet Monograph Series provides useful guides for all levels of auditors from juniors right up to audit directors. As soon as I can make some time I will be working on new guides for Sarbanes-Oxley, internal controls and Internet for auditors and other relevant subjects. These guides will be available to registered subscribers. If you are interested in developing a monograph on a contract basis, contact us.
Watch for new articles on Sarbanes-Oxley, Information Security, Software Auditing, CAATTs, and more from contributors. Reviews are in the works for more audit and SOx books. Watch the newsletter for more products, services and tools for auditors. Have an idea for a column? Contact us.
AuditNet® continues adding new specialized resources for auditors. Watch the newsletter and keep checking the Library page for updates and new resources.
FFIEC IT Examination Handbook (updated)
July 27, 2006: The Federal Financial Institutions
Examination Council issued
revised guidance for examiners and financial institutions to use
in identifying information security risks and evaluating the
adequacy of controls and applicable risk management practices of
financial institutions.
For the new handbook click here!
Ask the Auditor
Each month I select one question submitted to Ask the Auditor and provide an answer using the same digital tools and techniques that I recommend to all auditors.
Q: Is the External Auditor is responsible for detecting fraud and error, especially after the issuance of the statement 99?
A: The answer to this question can be found by reading Statement on Auditing Standards 99. In short, SAS 99 does require auditors to gather a broad range of information as input for identifying material areas of fraud risk. However, the responsibility for detecting fraud lies not only with the auditor but also with management. Audit committees also have a role in fraud detection. The following provide more detailed information:
Expanded Guidance for Auditor Fraud Detection Responsibilities -CPA Journal
Fraud and Responsibilities of the Audit Committee - AICPA
The New Fraud Standard Cummings, Lamont and McNamee
Heard on the Net!
AuditNet® Adds 181 New Programs to the Free Content Area
AuditNet added 181 standard management audit programs
to the free content area available to registered users. Thanks to
Professor Andrew Chambers of
Management-Audit, registered AuditNet users now have access
to the standard audit programs he developed.
Thanks for your support and until next month!
If you have a tip on how you are using the Internet or software applications for auditing contact us. Watch for more Internet boot camp tips from the auditing Internet guru!
Audit Work Programs Corner
Access to the free audit program section now requires registration. The following audit programs, ICQs, checklists or working papers were added this month. They are available on a 1 for 1 exchange for an original audit work program not currently in the inventory. If you unable to share audit programs then consider subscribing to the premium content which provides you with access free and premium content 24/7/365.
E-Books for
Subscribers to the Annual Audit Programs
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Application Information Security (Sep 06)
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Appropriate Computer Use-Govt (Sep 06)
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Information Security for Networks (Sep 06)
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Information Security Systems Development (Sep 06)
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Red Hat Linux Release 7 (Sep 06)
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Retail Store Sales (Sep 06)
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Solaris Release 9 (Sep 06)
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Tax Control Matrix (Sep 06)
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Tender Procedures (Sep 06)
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Whistleblower Program Review (Sep 06)
Internal Audit Manual
Looking for the "technically correct" answer to an internal audit related question or inquiry? Don't have a manual or yours does not include the current professional requirements? Not a problem - just go to Your IAM. It's as easy as that!
Based upon past internal audit experiences and observations of current internal audit practices, the benefits to be gained by using Your IAM are numerous. For example:
- Your IAM is always on-line and can be accessed from anywhere, at any time
- It is always current and more importantly, you don't have to up-date it
- Become more efficient and effective - do it the "right way" the first time
- Reduce your training costs
- Become "State-of-the-Art" - especially now in preparation for that required external QAR
AuditNet users will get a 5% discount off the published rates. In order to get this discount click here!
Sarbanes-Oxley Corner
Sarbanes Oxley Section 404 Compliance For IT Managers E-book Updated
This popular e-book available to current subscribers for free or to non-subscribers for purchase was recently updated. The Section 404 compliance date for smaller companies has been pushed back twice. But it appears now that the new target date for compliance, July 2007 will go ahead as scheduled and there will be no further extensions. The larger public companies or accelerated filers, have gone through two rounds of SOX audits now and many lessons have been learned regarding the scope of these audits and their costs.
The second edition of this publication hopes to shed some light on what those lessons are and how small public companies can benefit.
Need more information? Click for the Table of Contents or a Sample Chapter!
There are plenty of articles in the news on the topic of Sarbanes-Oxley. Here is a link to a site that does the research and provides you with links to all the relevant stories.
AuditNet Career Center
Auditors Looking for Jobs!
Companies Looking for Auditors!
The Matching Service for Auditors!
Go to the AuditNet® Career Center now for the latest job opportunities and career-related information and tools. 24 hours a day, 7 days a week you have the ability to not only look at available jobs, but you can also post your resume, apply for open jobs, research companies and obtain career advice. If you are in the market for a new job, make AuditNet® your first stop to check out what's available.
If your company has any audit job vacancies that you are looking to fill, have your HR people contact AuditNet® to post the job and search for candidates.
This is just another benefit of using AuditNet® as your one stop shop for all your audit and career resources.
AuditNet® CAATT Corner
No Escaping SOX Requirements
Get it done quickly with automation and borrowing from others'
experience
By Richard B. Lanza, CPA/CITP, CFE, PMP
If anything has been learned from the accelerated filers who have finished one, if not two rounds of Sarbanes-Oxley, it is this:
- Reduce consulting fees by moving more of the effort in-house.
- Scope the effort with a more risk-based eye.
These historical facts relate as much to the non-accelerated filers that are now coming into the compliance spectrum as they do for accelerated filers that have yet to reap the lessons' benefits.
For the rest of the story click here!
Editors Note: Also see a free Webinar on fighting T&E expense fraud - Improve Your Bottom Line: Eliminate T&E Fraud Through Expense Automation
AuditNet® Book Reviews
AuditNet® Software Compliance Audit Corner
New Monograph on Software Compliance Auditing: Looking for a Career Change?
If you work in the IT sector and keep an eye on the job market then this feature might be of interest to you, but probably it may not be what you are expecting to hear!
Many IT personnel are more than aware (or they should
be) that software compliance (making sure that the number of licenses
that installed matches what licenses paid for) is an important part of
protecting the business or organization.
The problem is that many audit and IT personnel start the process off,
and it never gets finished due to a number of good and valid reasons.
This might sound a bit lame, but our experience over the last 15 years
has uncovered a range of excuses that border on the plain ridiculous
to a very high and credible technology set of problems preventing or
hindering the auditing / validation requirement to take place.
Registered users can read the complete monograph by clicking here!
Watch for a link to almost 20 software compliance audit articles available to AuditNet registered users!
Looking for a low cost audit software tool? AuditNet users can order PC Profile's AUDIT Baseline version 4 for $140 (normally $195). Click here for info and make sure you let them know you are an AuditNet user.
Your Secret Weapon in the War on Fraud
The August 2006 issue of this fraud newsletter features articles on Internal Audit and Information Security, How to Avoid Costly Traps in International Anti-Fraud Law and more. For a free issue of this excellent publication click here!
The AuditNet® Audit Bookstore Corner
Looking for books on auditing related topics? We suggest using the AuditNet® bookstore. The bookstore focuses on Internal Audit but includes other related subjects as well. AuditNet® uses Amazon to power the bookstore so each purchase you make through this link helps support AuditNet®.
How to Say It When You Don't Know What to Say The Right Words for Difficult Times
By Robbie Miller Kaplan
As auditors we constantly interact with diverse stakeholders such as colleagues, managers, employees and others. Frequently we encounter people dealing with challenging and difficult times that may or may not be related to work. Our reaction to these situations is conveyed in our behavior both nonverbal and verbal.
For the rest of the review click here.
FREE! The Auditor's Guide to Internet Resources 2nd Edition
Interested in a free copy of The Auditor's Guide to Internet Resources, 2nd Edition? Write an article for the next newsletter on how you are integrating the Internet in auditing. If your article is selected, I will send you an electronic copy of the book. Contact us for details.
AuditNet® Vendor News
Check here for the latest news from our AuditNet® sponsors!
Paisley Consulting press releases
Dan's Internal Audit Corner
Internal Auditing 101
Each month Dan Swanson, a senior security and internal audit professional will provide his list of recommended resources for AuditNet readers. You can reach Dan at his website or by clicking here.
6. More information on the PPF.
C) Other Resources.
1. OCEG Practice Aid: Internal Audit Guide (IAG)
-
The
OCEG Internal Audit Guide (IAG) will help directors, executives
and other senior managers charged with governance responsibilities
to better understand the issues and processes involved in an
internal audit of a compliance and ethics program. The IAG is is
designed primarily for the internal auditor, but it is also useful
for compliance and ethics officers, compliance directors and board
members. By applying the processes and practices contained in the
IAG, an organization will enusre that they have an effective
compliance and ethics program in place.
www.oceg.org
- The Institute of Internal Auditors, including:
- AuditNet
- The Information Systems Audit and Control Association (ISACA), including:
- US Federal Financial Institutions Examination Council (FFIEC)
- US Government Accountability Office (GAO), including:
- The Treasury Board of Canada Secretariat Links page
- CCAF (Canadian Comprehensive Auditing Foundation)
- The International Organization of Supreme Audit Institutions (INTOSAI)
- The Center for Education and Research in Information Assurance and Security (CERIAS)
- CCCure.Org
AuditNet® Resource List
Please let us know of links that are not working!
Click here for the latest update!
Registered User Free Tools
Internal Audit Manual (Coming Soon)
AMIGO (Audit Management and Information Guidance Software)
The Perils of Mount Must Read
SOXERM
AuditNet Monographs
Premium User Tools
Sarbanes-Oxley, IT and Management Audit Programs
The Auditor's Guide to Internet Resources 2nd edition
Sarbanes-Oxley Section 404 Compliance for IT Managers 2nd Edition
Procedure Guidelines and Controls Documentation
Cobit 4th Edition Domain Quiz