IsAuditing.com (Information Systems Audit & Security)
All about IS audit, CISA, and Information Security
Auditors’ role is pivotal in the complex web of corporate governance and financial oversight because they act as gatekeepers of trust and transparency. Their role is mostly not in the spotlight. Still, they are the unsung sentinels who scrutinize the financial statements of companies, and their work is at the root of countless financial decisions … Read more
Every business needs constant checks and balances to ensure things are happening according to the law. Previously, we talked in detail about internal controls and their impact on a company. It is indeed a helpful practice, but we need more. Perhaps an unbiased opinion from someone who isn’t a part of the company? Someone with … Read more
Financial fraud is an unwanted but possible and existing mishap. They can damage the reputation of an entity and put them under material loss. Do you wish to investigate some financial fraud thoroughly? Forensic procedures are a top-notch solution to that. Fortunately, plenty of forensic accounting firms are constantly growing and providing solutions. Forensic accountants … Read more
As a company, you want to maintain the highest efficiency of your system and product quality. It’s only natural to have an efficient and client-satisfying process. However, you must apply mandatory preventive methods to avoid this. This is where quality assurance auditors jump in. In today’s article, we will talk about QAAs and their role … Read more
An audit is performed on the primary financial statements of a company. Here is everything you need to know about the auditing of financial statements. What Are the Statements Typically Audited? Generally, the auditor wants a detailed review of your company. It is achieved by exploring three out of the five main financial statements. These are: … Read more
As an auditor, your main aim is to assess, evaluate and RECORD. Your hard work and analysis become moot without the correct documentation and record. This is why every auditor comes with working papers to keep track of everything. If you are a financial expert, you already know about these papers and their work. If … Read more
When evaluating the company’s financial record, we need professional practices to determine almost-accurate results. This detailed analysis is done to check a company’s financial performance and detect any errors from the history. For finance enthusiasts, the term audit and assurance instantly comes to mind when we think about evaluation. Most people rank audit and assurance … Read more
An entity is made up of parts that combine to produce a synergically operative system whether it is to produce goods or service; for profit or non-profit. To make sure the corporation works like an efficient machine, each part must be well-oiled and work smoothly to support the whole effort. The Human Resource (HR) function … Read more
During conduct of an inspection by auditors, a major chunk of field work in validating management’s representations and collecting proofs takes the shape of corroborating and vouching. Without the auditing of vouching, no investigation is complete and therefore it is imperative to grasp the concept of vouchers and what it means to ‘vouch’ in audit. … Read more
According to textbook definition, audit is an independent examination of management-prepared financial information to ensure they give a accurate and fair picture. However, to encompass different types of auditing, a broader understanding would surmise audit as an investigation carried out to verify managements representations while engaging professional expertise to propose improvements where possible, financial or … Read more