Privately held companies operating internationally face risks that require a well-designed system of internal control to counteract. The system is contingent on general ledger applications, inventory, ...

As such, organizations are making their vendors obtain System and Organization Controls (SOC) attestation reports, as mandated by SSAE 16 and SSAE 18. A SOC report is a verifiable auditing report ...

Effectively managing internal controls for business systems is a top priority in order to prevent risks, stop fraud, keep a company secure – and experience clean, cost-effective audits. As the CTO of ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

Here’s a quick breakdown of formal and informal audits: Audit (formal) – the annual ritual of providing objective evidence that a quality system is established, followed and effective. A good quality ...