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Internal control

Find out more about internal control with our range of articles, books and online resources providing quick links to guidance, updates and commentary.

What's on this page?

  • eBooks
  • Online articles
  • Useful links
  • Books and articles from the Library

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Featured book

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.

To borrow this book please contact the Library.

Featured article

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. 

To request a copy of this article please contact the Library. 

eBooks

The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Accounting and finance policies and procedures

Policies and procedures are the foundation of internal controls for organizations. Taking a complicated subject and breaking it into manageable components, this book enables you to hit the ground running and significantly accelerate your completion of a solid policies and procedures program. This book provides you with sample documents you can personalize and customise to meet your company's needs. Contains 45 polices and procedures in addition to the polices and procedures program itself

Accounting control best practices

Addresses one of the primary concerns in accounting today - how to develop a comprehensive system of accounting and operational controls. This concern has been exacerbated by the provisions of the Sarbanes-Oxley Act, which requires public companies to report an assessment of their internal control structures and which has led to comprehensive control examinations by all types of companies. This second edition describes a complete set of controls for both a paper-based accounting process and a computerized system and then describes controls for more advanced best practices that are layered on to the basic computerized system. This second edition includes new chapters describing control systems for budgeting, collections, and financial reporting.

Accounts payable and Sarbanes Oxley

Looks at the Sarbanes-Oxley Act (SOX) and how accounts payable functions can strengthen their internal controls. Includes information on the proper documentation and necessary guidelines needed to conform with SOX and ensure accounts payable departments are compliant.

Audit committees

Guide to the duties of modern finance directors. Section 1.135 - 1.168 in chapter 1: Audit, covers the audit committee including, benefits and drawbacks of having an audit committee, membership, constitution and skills required, reporting to the board and shareholders, and internal control and internal audit. Appendix 2 is Specimen terms of reference for an audit committee

Showing 4 of 20 items

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

2018 report on Occupational Fraud: Results and how companies can protect their assets

Article on the results of the latest Association of Certified Fraud Examiners study on occupational fraud and abuse.

Are COSO frameworks enough

The article informs that as technology takes on an increasingly larger role in operations, business-focused frameworks might not be enough. It is mentioned that COSO framework defines internal control as a process, effected by an entity's board of directors, management designed to provide result based on effectiveness and efficiency of operations. The article also discusses about good-practice framework COBIT, and corporate governance of information technology.

Do companies with effective internal controls over financial reporting benefit from Sarbanes–Oxley sections 302 and 404?

In this article, the authors attempt to empirically examine and document the impact disclosing material control weaknesses or the consequences flowing to public companies from such disclosures have on information asymmetry and related market micro-structure to promote ‘‘equity’’ in U.S. capital markets post Sarbanes-Oxley.

Showing 3 of 19 items

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Useful links

ICAEW

Faculty of Finance and Management 
The faculty provides exclusive member content, including articles and guides on internal control, events and other practical resources.

Risk assessment and internal controls: continuing challenges for auditors
International Auditing perspectives - an initiative from International Accounting Auditing & Ethics. Published 2015.

Internal Controls - A Review of Current Developments 
A concise summary of the various approaches to risk management and internal controls, published in 2006 by the International Federation of Accountants (IFAC). Along with other IFAC member bodies, the ICAEW played a leading role in the preparation of this 15-page overview.

Other resources

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.

Books and articles in the Library collection

Selected books and documents

Click on the links below to see our catalogue record for each item. Please contact us if you would like to borrow a book or request a copy of an article.

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.

Find more books and articles

To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

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