As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

Today many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control ...

Companies put internal controls in place to limit risks. Possible risks include losses, poor performance on contracts, poor quality and non-compliance with regulations. Documentation procedures detail ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

For about 20 years, the popular internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has been like a favorite tool in a craftsman’s shop. Its ...

The majority of us come to work every day where operations run smoothly, missions are planned and executed and teams work together seamlessly. Now imagine just beneath the surface, risks are lurking ...

In this blog post I conclude my exploration of how you should assess your compliance internal controls using the Committee of Sponsoring Organization of the Treadway Organization (COSO), publication ...

Internal controls are measures adopted by the university to promote the thoughtful and efficient use of all resources. As an agency of New York State, the University at Buffalo is obligated to comply ...