Find out more about internal control with our range of articles, books and online resources providing quick links to guidance, updates and commentary.
Expert help for your enquiries and research.
Internal control audit and compliance : documentation and testing under the new COSO framework
L. Graham (John Wiley, 2015, 392 pages)
This book offers a guide and comprehensive reference to the newly revised framework established by COSO [Committee of Sponsoring Organisations]. Appendices include illustrative forms and templates.
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A well-oiled machine
Internal auditor, February 2015, pages 31-35
As organisations map their existing controls to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) updated 'Internal Control: Integrated Framework', it is becoming clear that some areas will see little change, while other areas will see opportunities to increase the effectiveness and efficiency of their controls.
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Policies and procedures are the foundation of internal controls for organizations, this book enables you to hit the ground running and significantly accelerate your completion of a solid policies and procedures program. This book provides sample documents can be personalised and customised to meet your company's needs
How to develop a comprehensive system of accounting and operational controls.
Looks at the Sarbanes-Oxley Act and how accounts payable functions can strengthen their internal controls.
Guide to the duties of modern finance directors. Sections 1.135 - 1.168, in chapter 1: Audit, covers the audit committee
Chapter 7 gives details of the purpose of audit and the auditor's duty of care. The role of the audit committee is dealt with in detail, including audit tendering and internal control and risk management.
A complete operations reference manual for corporate controllers.
Best practice for not-for-profit audit committees from an American perspective. Chapter 5 looks at 'Defining the role of the internal audit function'
Chapter 10 discusses risk management and business objectives, risk management and organisational culture, the boards responsibility for internal control and risk management, the audit/risk committee and the internal audit function.
Provides a step-by-step plan for installing and implementing effective internal controls with an emphasis on building improved IT as well as other internal controls and integrating better risk management processes.
This book outlines a framework for and a systematic series of audit data analytics tests that should function well as a starting set of detective controls. The tests are not based on complicated statistics and should be quite easy to understand for anyone that has done well in a handful of accounting courses.
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With finance professionals’ continued reliance on Excel for everything from analyzing data to producing reports, management must be sure to impose internal controls. The article includes a sample documentation sheet for an Excel workbook.
CFOs must wear many 'hats' in order to meet their many responsibilities: financial steward, communicator of financial results, leader of financial planning and analysis, driver of internal controls and process improvements, and strategist.
The article discusses the changes introduced by the U.S. Securities and Exchange Commission to the Section 404 (b) of the Sarbanes-Oxley Act, a law consisting of auditing and financial regulations for public companies in the U.S.
Understanding, documenting and testing internal controls
Guidance from the Audit and Assurance Faculty looking at some of the continuing issues that challenge auditors in understanding and documenting internal control on audits of financial statements.
Internal controls reporting: sketching out the options
This report from the Audit and Assurance Faculty examines various reporting frameworks, including COSO and the UK Code, as well as how these fit in with Sir Donald Brydon’s recommendations.
Internal control effectiveness: who needs to know?
Report from the Audit & Assurance Faculty exploring the current position in the UK of reporting on the effectiveness of financial reporting controls, comparing it with what happens in the USA and elsewhere in the world, and sets out the case for change and potential options.
Risk Management and Internal Control
Information from the Financial Reporting Council about the Turnbull guidance and Section 404 of the US Sarbanes-Oxley Act 2002.
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Executive's guide to COSO internal controls: understanding and implementing the new framework
R.R. Moeller (John Wiley, 2014, 304 pages)
Written for the executive who needs to get quickly up to speed on the specifics of the new COSO framework and how it's changed from the previous version, to help you put in place a practical, no-nonsense framework for identifying, planning, delivering, and implementing effective internal controls in your business.
Information technology control and audit
Senft, S. (Auerbach, 2013, 740 pages)
This book aims to provide a comprehensive and up-to-date overview of IT governance, controls, auditing applications, systems development, and operations. It examines emerging trends and defines recent advances in technology that impact IT controls and audits.
Internal control- integrated framework: framework and appendices
(COSO, 2013)
The framework contains the sections: definition of internal control; objectives, components and principles; effective internal control; additional considerations; control environment; risk assessment; control activities; information and communication; monitoring activities; and limitations of internal control.
COSO internal control - integrated framework: turning principles into positive action
Rittenberg, L.E. (The Institute of Internal Auditors Research Foundation, 2013)
This document is designed to be a companion piece to the 2013 COSO "Internal Control - Integrated Framework. It outlines implications for internal auditing and suggests ways in which internal auditors might also play a leading role in educating key members of management on how the organisation might address changes suggested in the updated Framework.
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