Wednesday, July 27, 2005
  Sarbanes finally done We've just finished our Sarbanes-oxley testing cycle for Internal audit--mgmt will continue on for the rest of the year. It was a long hard process to test year one and then transfer over to management. Some of my key observations
1) Internal Audit should NOT own the sarbanes oxley process--management needs to sign and management should own.
2) Internal audit did most of the testing because we over-scoped the controls that needed gto be tested. If we could have scoped it back further, management would have been able to handle it.
3) Internal audit still needs to be involved.

I'll have more time to post now, if there's anything anyone's looking for, feel free to post comments 
Sunday, July 24, 2005
  Thanks for the Props and the emails. I appreciate your support.
Here's a link back to a site of a new Internal auditor--tracking his/her thoughts on becoming an auditor. Welcome to the profession
Saturday, July 16, 2005
  Sox Finally, Sox guidance that makes sense
Sunday, May 22, 2005
  Entity Level Control Testing The latest PCAOB guidance makes the Entity level testing the starting point for Sox compliance. I haven't found the existing software to be that useful, but we preferred to create out own in the Internal audit Department at my company. we used the tool from www.arc.executiveboard.com to guide us.

other guidance to use
Sunday, April 17, 2005
  internal auditing work

new stuff posted, very cool work on audit committees and sarbanes oxley compliance 
Thursday, February 10, 2005
  Treasury Audit I was emailed yesterday a simple question: what area would you focus your attention on if you could only do one audit this year


Materiality thresholds are easy to cross, often signicant elements of judgment involved in applying accounting standards, easy area for fraud to have a major impact.

The controls are hard to document and test and implementation isn't easy, see this for guidance--Treasury

or piece on 'Follow the Money Trail' 
  I spent four hours on this site Audit Reference Center, internal auditor dream.

Our audit team is pushing rally hrd to keep the level of usefulness high when we write our recomendations. We obviously can't blur the line into internal consulting--just not worth the implications. we can, however, be more prescriptive when offering guidance.

Our audit commitee is panicked about us focusing too much attention on Sarbanes Oxley 404 compliance. we're freeing up our time to do' all the other things IA has to do'--as my audit commitee chair said last week.  
Saturday, November 27, 2004
  IIA Discussion boards very useful resource full with sage advice

discussion board link at left. you don't have to be a member 
Friday, November 19, 2004
  Audit Reference Center New resource for Audit teams--Best practices, tools, risk catalogs, work programs, etc--everything we nee to do our audits. I'm not an advertisement--this is just the first time I've seen anyone put all of this stuff together in on place


someone sent me a link to it at www.auditreferencecenter.com, but I think that just passes through to the web address above.

there's a demo at

with free previews.  
Sunday, October 10, 2004
  Audit Director Roundtable Survey on 404 see audit director roundtable survey on sub-certifications: cool stuff for any internal auditor. IIA survey 
Friday, July 02, 2004
  NEW SEC DOC The iia produced a quick guide to the new PCAOB FAQ and SEC FAQ. see the summary at the IIA Link here 
Wednesday, June 30, 2004
  great sarbanes Oxley book by the Audit Director Roundtable 
  good ERM BLog
Friday, April 23, 2004
  The Audit Director Roundtable recently added free material that you don't need to log in to get access to. The site has a listing of all of the materials in their libarary for internal auditors. My company used the RFP tools and audit committee materials to hire and evaluate internal auditor outsourcers.  
SITE FOR INTERAL AUDITING RESOURCES, not affiliated with Audit Director Roundtable or The IIA.

04/01/2004 - 05/01/2004 / 06/01/2004 - 07/01/2004 / 07/01/2004 - 08/01/2004 / 10/01/2004 - 11/01/2004 / 11/01/2004 - 12/01/2004 / 02/01/2005 - 03/01/2005 / 04/01/2005 - 05/01/2005 / 05/01/2005 - 06/01/2005 / 07/01/2005 - 08/01/2005 /

Powered by Blogger

Blogarama - The Blog Directory

Listed on Blogwise