Audit Board

MAY 24, 2023

COSO formed to investigate the fraud scandals of the 1970s and 1980s, releasing an internal controls framework in 1992. This article will break down the five pillars and seventeen principles of the COSO framework as well as how implement and use it as a foundation for modern internal controls and fraud deterrence.

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Compliance B2B Technology 52

Audit Board

SEPTEMBER 20, 2023

Throughout the preparation of financial statements, companies need to be aware of ICFR requirements, considering the organization’s control environment, control activities, any control deficiencies, and their effect on the risk of material misstatement. What Does Internal Control Over Financial Reporting (ICFR) Mean?

Compliance 52

Compliance Technology Start-ups Accounting Firms 52

Audit Board

MARCH 1, 2023

As businesses begin their SOX planning, adopting a risk-first approach to SOX can help teams drive efficiency throughout their testing year. One of the best places to begin implementing this is during the SOX risk assessment. Refresh risk and control mappings to reflect the current control environment.

Compliance 52

Compliance 52

ThomsonReuters

JANUARY 8, 2024

AI-powered software can handle large volumes of data with speed and accuracy, significantly reducing the risk of human error. This level of data analysis goes beyond what human capabilities alone can achieve, allowing tax professionals to provide more accurate and proactive advice to their clients. It’s all about the data.

Data Analysis 101

Data Analysis Compliance Technology Banking 101

ThomsonReuters

FEBRUARY 22, 2024

The good news is, AI should solve many pain points and make it easier (and quicker) to do a good job: cutting out repetitive processes and minimizing the risk of error, while enabling you to stay ahead of fast-changing regulations and keep on top of disparate data. Blog Find out how corporate tax departments can implement AI.

Compliance 93

Compliance Start-ups Technology 93

Audit Board

JUNE 27, 2023

It is one of the most significant risks any organization faces. Yet, organizations cannot manage what they do not monitor, and many organizations are still not prioritizing culture assessment or acknowledging culture risks and opportunities. No organization is immune from culture failure.

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Audit Board

APRIL 27, 2023

Objectively evaluating risks, analyzing and assessing processes and systems for efficiencies, doing spot-checks for as-yet-unknown issues, and keeping departments aligned and meeting business objectives are all important ways that auditors can bring value. What Is Internal Auditing ?

Compliance 52

Compliance Start-ups Technology Finance 52

ThomsonReuters

APRIL 18, 2023

For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? For business owners, payroll is complex and often their greatest expense. Overlooking fringe benefits A fringe benefit is a form of pay for the performance of services. for partners).

Compliance 107

Compliance Technology 107

Internal Audit 360

SEPTEMBER 1, 2022

What was important last year has changed. With the constantly changing times—due to socio-economic factors, the pandemic, supply chain disruptions, changing employee preferences and behaviors, and other relevant trends that affect the company’s work patterns—internal audit needs to be as strategic and risk-based as ever.

Marketability 98

Marketability 98

Audit Board

APRIL 27, 2022

Digital risk has become one of the fastest-growing, most pervasive risks in any organization. Gartner defines “ digital risk ” as the set of risks inherent in digital products, services, and supporting processes. Meanwhile, only 18% of respondents place ownership of digital risk with business management.

Technology 105

Technology Compliance 105

Audit Board

SEPTEMBER 14, 2023

The importance of robust vendor risk management, or “VRM”, practices has been illustrated by a number of cyberattacks and data breaches that have originated from vendors and gone on to significantly impact the organizations using their services. What is Vendor Risk? What Types of Vendor Risk are There?

Compliance 52

Compliance Start-ups Accounting Firms Technology 52

ThomsonReuters

MARCH 20, 2023

Let’s start with the basics. What is ESG? As such, investors are looking closely at ESG as a way of identifying material risks and growth opportunities. In addition, businesses across the board are facing a rising tide of ESG regulations. What is an ESG narrative? Think moving to paperless processes.

Accounting Firms 59

Accounting Firms Compliance Start-ups Equity 59

Audit Board

MAY 11, 2022

Internal audit sits at the intersection of risks , gaining a powerful enterprise-level view ??it Maintaining relevance means guiding the organization in managing trends such as rising inflation and increasing fraud risk. Flexibility, Empathy, and Dialogue Are Keys To Deal With Unprecedented Level of Risk.

Technology 52

Technology Start-ups 52

Audit Board

JUNE 3, 2022

Environment, Social, Governance (ESG) is a framework for assessing risks to a company’s operations related to large-scale, long-term environmental, social, and governance issues. Read on to learn more about what an ESG audit entails and our preliminary ESG audit checklist. . What Is an ESG Audit? . What Is an ESG Risk? .

Compliance 98

Compliance Start-ups Equity Finance 98

ThomsonReuters

JANUARY 12, 2023

What is ESG? Environment, Social and Governance (ESG) is a framework for evaluating risks and opportunities related to a company’s operational impact on the environmental, social issues, and governance factors. . What is an ESG audit? Here are five key steps to identifying ESG risks and establishing ESG controls. .

Compliance 52

Compliance Technology Accounting Firms Equity 52

Audit Board

JULY 5, 2023

By understanding these critical factors, auditors can better anticipate and address the potential risks posed by economic fluctuations , ensuring the organisation’s resilience and success in uncertain times. Ensure risk assessments for both the organisation and the internal audit team are up to date.

Banking 52

Banking Finance Marketability 52

Internal Audit 360

SEPTEMBER 2, 2021

GUEST BLOG POST. The primary problem is that the GTAG does not recognize that, as risk management expert Jay Taylor once said : “There is no such thing as an IT risk, there is only business risk.” The IIA mandates a risk-based approach and that requires judgment. 2 Where’s the risk?

Technology 52

Technology 52

Audit Board

OCTOBER 12, 2023

Many leading organizations have embraced cyber risk quantification to understand the financial impact of a cyber risk event. Myth 1: Cyber risk quantification is too complex. Cyber risk quantification can be complex, but several tools and resources are available to make it more accessible to organizations of all sizes.

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Audit Board

NOVEMBER 8, 2023

Payment card data is an appetizing target for many hackers and bad actors, and FICO’s investigations show that, while credit card companies have tightened their security systems in the wake of COVID-19, credit card fraud continues to be a huge problem. What Does it Mean to Be PCI Compliant?

Compliance 52

Compliance Start-ups Banking Technology 52

Reynolds Holding

DECEMBER 18, 2022

This blog post explores some of the borrowed GDPR concepts and suggests resources companies might use as they develop their compliance programs. What constitutes valid consent is important under the State Privacy Laws because, in several circumstances, personal data can only be processed with a user’s consent. Consent Requirements.

Banking 45

Banking Compliance Start-ups Technology 45

Audit Board

JANUARY 4, 2023

A volatile economy means uncertainty and company leaders tend to lose their comfort with risk-taking. In addition, declining stock valuations, rising costs, and falling sales are creating more incentive for earnings manipulation and other fraud schemes. . Trend 2: Workplace Changes Are Increasing Fraud Risk.

Compliance 52

Compliance Start-ups Technology Finance 52

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? What is a sales tax audit? Indirect tax departments are under increasing pressure to stay on top of new sales tax laws and regulations , while reducing audit risks. Negotiate with the auditor before the final assessment.

Compliance 105

Compliance Technology 105

Audit Board

SEPTEMBER 21, 2022

While a recession brings challenges for auditors and the organizations they serve, an economic downturn may also be an opportunity to leverage our risk and control skill set and become a change agent. Lesson 2: Update the Audit Plan for Recession Risks. Another fraud driver comes from staff reductions.

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Start-ups Marketability 52

Audit Board

DECEMBER 25, 2022

In the last year, Auditboard’s Audit Webinar Series focused on identifying and responding to emerging risks impacting organizations everywhere. In 2022, AuditBoard hosted 40 audit, risk, and compliance webinars that attracted over 40,000 attendees. 2022 Audit Webinar Trends.

Start-ups 52

Start-ups Technology Equity Compliance 52

Reynolds Holding

SEPTEMBER 30, 2022

In this Debevoise Data Blog post, we examine the growing cybersecurity threats to AI systems and how companies can prepare for and respond to these attacks. Manipulating fraud-detection models to allow attackers to engage in fraud without detection, which is also referred to as an evasion attack. Threats to AI Systems.

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Technology Marketability 45

Audit Board

JULY 25, 2022

Every business faces cyber risk. Ineffective cyber risk management increases a business’s susceptibility to cyber breaches that bring heavy financial costs, regulatory fines, operational disruption, and reputational damage. What Is Cyber Liability Insurance? What Is Cyber Liability Insurance? .

Compliance 52

Compliance Technology Finance 52

Audit Board

JUNE 15, 2023

In the field of cybersecurity, risk management, and compliance, there are a collection of acronyms that you’ll hear often enough. Each of these organizations plays a role in the shifting tectonics of security, compliance, and risk. This article will discuss NIST in detail, focusing on the NIST Cybersecurity Framework , or NIST CSF.

Technology 52

Technology Compliance Start-ups Finance 52

Reynolds Holding

APRIL 10, 2023

SideBar Fraud risk is one topic that typically finds its way onto the agendas of audit committees. There are five components to the ICIF: control environment; risk assessment; control activities; information and communication; and monitoring activities.

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Compliance Going Concern Value Start-ups Finance 45

Audit Board

MAY 31, 2023

Internal auditors help ease the worry by independently assessing the organization’s operations, including financial reporting and other regulatory areas. Private companies, especially startups, are known for attracting entrepreneurial talent. They know how to guide teams to implement corrective actions to issues and more efficient processes.

Start-ups 52

Start-ups Compliance 52

Audit Board

MAY 17, 2023

In Blind Spots: Why We Fail to Do What’s Right and What to Do About It , authors Max Bazerman and Ann Tenbrunsel write: “Our minds are subject to bounded ethicality, or cognitive limitations that can make us unaware of the moral implications of our decisions.” This is why we must never take the chance of it happening on our watch.

Start-ups 52

Start-ups 52

ThomsonReuters

APRIL 18, 2023

What are the current issues in accounting? To assist today’s firms, this article will provide an overview of some of the top accounting issues firms face and the solutions that can help them tip the scale in their favor. Some of the issues vary by firm — depending on the size of the firm, the resources a firm currently has in place, etc. —

Technology 52

Technology Compliance Start-ups Finance 52

Internal Audit 360

JULY 5, 2021

Companies that want to avoid Quad/Graphic’s fate will want to ensure that the internal audit function is conducting regular audits of the anti-bribery and anti-corruption program based on a solid assessment of the company’s risk of non-compliance with the Foreign Corrupt Practices Act and other bribery laws. Not Just U.S. Regulation.

Data Analysis 52

Data Analysis Compliance Marketability 52

ThomsonReuters

JANUARY 12, 2023

But what exactly does offering auditing services entail? And what tools and resources are available for accountants who want to specialize in audit? What does an audit accountant do? The primary role of an accountant is to handle a variety of tasks including tax preparation, financial planning and audits. .

Technology 59

Technology Compliance Start-ups Accounting Firms 59

ThomsonReuters

JUNE 9, 2023

In this blog post, we’ll provide some tips on how to ensure your firm is audit compliant and up to date with the latest industry changes. What are the steps to establishing an audit engagement process? In today’s rapidly changing business environment, firms need to stay on top of their audit compliance. compatible.

Compliance 98

Compliance Technology 98

Reynolds Holding

JANUARY 31, 2023

The recent proliferation of fake twitter accounts impersonating companies like Eli Lilly and Lockheed Martin, and the resulting losses for each company, illustrates the risk that deepfakes might pose and the damage they may cause. Detecting Corporate Deepfakes As deepfakes become easier to make and deploy, the risk to companies increases.

Start-ups 81

Start-ups Marketability Technology 81

Audit Board

MAY 15, 2023

In today’s modern threat landscape, compliance risk, cybersecurity risk, fraud risk, and even climate change risk can have a significant impact on your company’s reputation and bottom line. While you’ll never be able to eliminate business risk entirely, prevention is the best insurance against loss.

Start-ups 98

Start-ups Compliance Technology 98

Audit Board

MAY 3, 2023

Each member of an organization plays a critical role in ensuring a strong internal control environment to protect company assets, ensure completeness and accuracy of records, comply with laws and regulations, drive operational efficiency, and ultimately help the business meet its objectives and goals by managing risks effectively.

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