Description:
Internal Controls Guide, Third Edition presents a workable, intuitive approach for designing and/or evaluating both existing and proposed controls. The guide explains the importance of particular controls, the practical factors that often diminish the effectiveness of well-designed controls, and the effect of omitting a particular control. In other words, this guide addresses the "why" of control evaluation procedures as well as the "how."
Internal Controls Guide provides a practical approach to the assessment of control risk to determine the nature, extent, and timing of the audit process, providing valuable guidance on:
How to design controls
How to test a particular control
Assessing control risk for an owner-manager operation
How to integrate research on fraudulent reporting when developing systems, assessing control risk and auditing internal control over financial reporting
Special risk and control challenges associated with derivatives and hedging
The book is written for internal auditors, system designers, controllers, CPAs, operating managers, consultants, directors and students. It gives you step-by-step instructions, checklists, and other practice aids to simplify complex financial management issues and shows you practical solutions to apply in real-life situations.
Product Details:
Copyright 2005
ISBN 0-8080-9004-6
Paperback, 1900 Pages
CCH Inc.
Table of Contents:
Chapter 1: Understanding Control, Assessing Control Risk, and Evaluating Controls
Chapter 2: Controls and Enterprise Risk Management
Chapter 3: The Effects of Technology on Control
Chapter 4: Special Attention to Fraud Detection Issues
Chapter 5: Designing and Evaluating Controls
Chapter 6: Six Useful Tools of the Trade - Their Application in the Design and Evaluation of Controls
Chapter 7: Expanded Treatment of Tests of Controls via Statistical Methods - Practical Considerations
Chapter 8: How to Formulate an Audit Plan: Selecting the Right Mix of Tests of Control, Substantive, and Dual-Purpose Tests
Chapter 9: How to Design and Evaluate Internal Controls for the Revenue or Income-Producing Cycle
Chapter 10: How to Design and Evaluate Internal Controls for Financing and Nonroutine Transactions
Chapter 11: How to Design and Evaluate Internal Controls for Financing and Nonroutine Transactions
Chapter 12: How to Handle Control Concerns Unique to Computer Systems
Chapter 13: Putting It All Together: How to Produce a Global Picture of an Entity's Controls
Chapter 14: How to Prepare Effective Management Letters
Chapter 15: Performing Attest Engagements to Report on Entities' Internal Control and PCAOB Prescribed Audits of Controls over Financial Reporting
Chapter 16: Control Problems by Industry Type
Chapter 17: Reporting Issues
Chapter 18: Adapting the Design and Evaluation of Controls to Not-for-Profit Entities
Chapter 19: Litigation Support Considerations
Chapter 20: Overview, Challenges for the Future, and Unanswered Questions