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6 Things Every Internal Auditor Should Know About the Proposed Standards

Audit Board

The Institute of Internal Auditors (IIA) has released a revised set of professional standards for the practice of internal audit ( Standards ) for public exposure and comment. We call upon every internal audit practitioner to make their voice heard. This is your opportunity to help shape the future of your profession.

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Material Weakness Prevention and Detection Strategies

Audit Board

When a material weakness is uncovered in a company’s internal controls , auditors have a duty to report it to the audit committee. In fact, every publicly-traded company in the United States must have a qualified audit committee as a part of their board of directors. Securities and Exchange Commission (SEC).