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Entity-Level Controls: The Importance of Setting the Tone
An effective organization of consequence, whether public or private, attempts to strike a balance between its mission (usually but not always profit) and its resp...
What Is IT Risk and How Should You Manage It?
What Is IT Risk?Information technology (IT) risk is any potential threat to business data, critical systems and business processes. It is the risk associated with...
Segregation of Duties Is a Best Practice That Can’t Be Ignored
Checks and BalancesThe judicious segregation of key duties within a business is a fundamental principle of risk mitigation that should never be ignored or taken l...
How to Ensure a Robust Compliance Policy
Introduction“Compliance” is defined as adherence to policies, plans, procedures, laws, regulations, contracts or other requirements within a company or organizati...
A Guide to Reviewing Your Organization’s Data Mining and Data Analytics Practices
In the realm of computer science, the term data mining is interchangeable with the term knowledge discovery in data (KDD), and for good reason. There’s a tremendo...
Organizational Risk Assessment — Performed the Right Way
Risk Assessment DefinedWhat is risk assessment? Risk assessment is the identification and analysis of relevant risks to achieving objectives and forming a basis f...
Internal Controls: Why You Need a Vigorous Policy
A Working Definition of Internal ControlsFor accounting, risk and audit, internal controls are a set of accounting best practices activities designed and imp...
The Importance of Best Practices in Goodwill Accounting
Goodwill: An Elusive but Valuable AssetGoodwill might be the most valuable asset on your company’s balance sheet. It might also be the most difficult to place an ...
COSO: Step Up Your ERM, Integrated and Internal Controls
What is COSO? COSO is a framework used by businesses to establish a set of internal controls for integration into their business processes. This set of controls a...
Successful Audit Planning Is a Critical First Step in the Audit Process
While it’s true that no internal audit will ever go exactly according to plan, it is also true that audit planning is a necessary and important part of the overal...
