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Five Components of the COSO Framework You Need to Know
WHAT DOES COSO STAND FOR?In 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed a COSO Framework for evaluating ...
What Is Internal Auditing?
What Is Internal Auditing?About Internal AuditThe internal audit profession, through The Institute of Internal Auditors (IIA), has continued to redefine itself as...
Second Line of Defense: What Needs to Be Present
What is the Second Line of Defense?Essential to effective risk management, the lines-of-defense model is implicit in COSO’s internal control framework through the...
Segregation of Duties: Key Facts You Need to Know
Segregation of duties (SoDs) is an important concept to internal control frameworks, financial reporting and regulatory compliance, including the Sarbanes-Oxley A...
Internal Audit: Auditing Standards You Need to Be Aware Of
Auditing Standards for Internal AuditThe Institute of Internal Auditors (IIA) promulgates the International Professional Practices Framework (...
Audit Committee Reporting: Important Practices and Examples You Need to Know
Chief audit executives may be comfortable that their approach to audit committee reporting has followed the same unwavering path for the past decade. But are they...
The Art of Internal Audit Reporting: Direct Impact and Clarity
Internal audit (IA) reporting may be the biggest challenge in the audit process next to scheduling the audit itself and implementing recommendations in today’s co...
Risk Assessment Maps and Prioritizing Business Processes
Risk assessment helps identify and document critical business processes and the internal controls within each process. Combined with facilitated management meetin...
Customer Service: Business Risks You Need to Know
The focus on customer relationship management (CRM), also known as customer care or customer service, has been growing steadily for the last few years. Companies ...
How to Define Risk Management Goals and Objectives in Your Organization
Risk oversight and risk management are high priorities on the agenda of most organizations. Here are popular KnowledgeLeader tools that focus on risk management:...
