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Brink's Modern Internal Auditing

Name: Brink's Modern Internal Auditing
Author: Robert R. Moeller
ISBN: 9781119016984

by Robert R. Moeller

January 2016

Intermediate to advanced

832 pages

30h 56m

English

Wiley

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Preface
Part 1: Foundations of Modern Internal Auditing
Chapter 1: Significance of Internal Auditing in Enterprises Today: An Update
1.1 Internal Auditing History and Background1.2 Mission of Internal Auditing1.3 Organization of this BookNote
Chapter 2: An Internal Audit Common Body of Knowledge
2.1 What Is a CBOK? Experiences from Other Professions2.2 What Does an Internal Auditor Need to Know?2.3 An Internal Auditing CBOK2.4 Another Attempt: The IIA Research Foundation’s CBOK2.5 Essential Internal Audit Knowledge AreasNotes
Part 2: Importance of Internal Controls
Chapter 3: The COSO Internal Control Framework
3.1 Understanding Internal Controls3.2 Revised COSO Framework Business and Operating Environment Changes3.3 The Revised COSO Internal Control Framework3.4 COSO Internal Control Principles3.5 COSO Internal Control Components: The Control Environment3.6 COSO Internal Control Components: Risk Assessment3.7 COSO Internal Control Components: Internal Control Activities3.8 COSO Internal Control Components: Information and Communication3.9 COSO Internal Control Components: Monitoring Activities3.10 The COSO Framework’s Other Dimensions
Chapter 4: The 17 COSO Internal Control Principles
4.1 COSO Internal Control Framework Principles4.2 Control Environment Principle 1: Integrity and Ethical Values4.3 Control Environment Principle 2: Role of the Board of Directors4.4 Control Environment Principle 3: Authority and Responsibility Needs4.5 Control Environment Principle 4: Commitment to a Competent Workforce4.6 Control Environment Principle 5: Holding People Accountable4.7 Risk Assessment Principle 6: Specifying Appropriate Objectives4.8 Risk Assessment Principle 7: Identifying and Analyzing Risks4.9 Risk Assessment Principle 8: Evaluating Fraud Risks4.10 Risk Assessment Principle 9: Identifying Changes Affecting Internal Controls4.11 Control Activities Principle 10: Selecting Control Activities That Mitigate Risks4.12 Control Activities Principle 11: Selecting and Developing Technology Controls4.13 Control Activities Principle 12: Policies and Procedures4.14 Information and Communication Principle 13: Using Relevant, Quality Information4.15 Information and Communication Principle 14: Internal Communications4.16 Information and Communication Principle 15: External Communications4.17 Monitoring Principle 16: Internal Control Evaluations4.18 Monitoring Principle 17: Communicating Internal Control DeficienciesNote
Chapter 5: Sarbanes-Oxley (SOx) and Beyond
5.1 Key Sarbanes-Oxley Act (SOx) Elements5.2 Performing Section 404 Reviews under AS55.3 AS5 Rules and Internal Audit5.4 Impact of the Sarbanes-Oxley ActNotes
Chapter 6: COBIT and Other ISACA Guidance
6.1 Introduction to COBIT6.2 COBIT Framework6.3 Principle 1: Meeting Stakeholder Needs6.4 Principle 2: Covering the Enterprise End to End6.5 Principle 3: A Single Integrated Framework6.6 Principle 4: Enabling a Holistic Approach6.7 Principle 5: Separating Governance from Management6.8 Using COBIT to Assess Internal Controls6.9 Mapping COBIT to COSO Internal ControlsNotes
Chapter 7: Enterprise Risk Management: COSO ERM
7.1 Risk Management Fundamentals7.2 COSO ERM: Enterprise Risk Management7.3 COSO ERM Key Elements7.4 Other Dimensions of COSO ERM: Enterprise Risk Objectives7.5 Entity-Level Risks7.6 Putting It All Together: Auditing Risk and COSO ERM ProcessesNotes

Part 3: Planning and Performing Internal Audits
Chapter 8: Performing Effective Internal Audits
8.1 Initiating and Launching an Internal Audit8.2 Organizing and Planning Internal Audits8.3 Internal Audit Preparatory Activities8.4 Starting the Internal Audit8.5 Developing and Preparing Audit Programs8.6 Performing the Internal Audit8.7 Wrapping Up the Field Engagement Internal Audit8.8 Performing an Individual Internal Audit
Chapter 9: Standards for the Professional Practice of Internal Auditing
9.1 What Is the IPPF?9.2 The Internal Auditing Professional Practice Standards: A Key IPPF Component9.3 Content of the IIA Standards9.4 Codes of Ethics: The IIA and ISACA9.5 Internal Audit Principles9.6 IPPF Future DirectionsNotes
Chapter 10: Testing, Assessing, and Evaluating Audit Evidence
10.1 Gathering Appropriate Audit Evidence10.2 Audit Assessment and Evaluation Techniques10.3 Internal Audit Judgmental Sampling10.4 Statistical Audit Sampling: An Introduction10.5 Developing a Statistical Sampling Plan10.6 Audit Sampling Approaches10.7 Attributes Sampling Audit Example10.8 Attributes Sampling Advantages and Limitations10.9 Monetary Unit Sampling10.10 Other Audit Sampling Techniques10.11 Making Efficient and Effective Use of Audit SamplingNotes
Chapter 11: Continuous Auditing and Computer-Assisted Audit Techniques
11.1 Implementing Continuous Assurance Auditing11.2 ACL, NetSuite, BusinessObjects, and Other Continuous Assurance Systems11.3 Benefits of CAA11.4 Computer-Assisted Audit Tools and Techniques11.5 Determining the Need for CAATTs11.6 Steps to Building Effective CAATTs11.7 Importance of Using CAATTs for Audit Evidence Gathering11.8 XBRL: The Internet-Based Extensible Marking LanguageNotes
Chapter 12: Control Self-Assessments and Internal Audit Benchmarking
12.1 Importance of Control Self-Assessments12.2 CSA Model12.3 Launching the CSA Process12.4 Evaluating CSA Results12.5 Benchmarking and Internal Audit12.6 Better Understanding Internal Audit ActivitiesNotes
Chapter 13: Areas to Audit: Establishing an Audit Universe and Audit Programs
13.1 Defining the Scope and Objectives of the Internal Audit Universe13.2 Assessing Internal Audit Capabilities and Objectives13.3 Audit Universe Time and Resource Limitations13.4 “Selling” an Audit Universe Concept to the Audit Committee and Management13.5 Assembling Audit Programs: Audit Universe Key Components13.6 Audit Universe and Program Maintenance
Part 4: Organizing and Managing Internal Audit Activities
Chapter 14: Charters and Building the Internal Audit Function
14.1 Establishing an Internal Audit Function14.2 Audit Committee and Management Authorization of an Audit Charter14.3 Establishing an Internal Audit FunctionNotes
Chapter 15: Managing the Internal Audit Universe and Key Competencies
15.1 Auditing in the Weeds: Problems with Reviews of Nonmainstream Audit Areas15.2 Importance of an Audit Universe Schedule: What Is Right or Wrong15.3 Importance of Internal Audit Key Competencies15.4 Importance of Internal Audit Risk Management15.5 Internal Auditor Interview Skills15.6 Internal Audit Analytical and Testing Skills Competencies15.7 Internal Auditor Documentation Skills15.8 Recommending Results and Corrective Actions15.9 Internal Auditor Negotiation Skills15.10 An Internal Auditor Commitment to Learning15.11 Importance of Internal Auditor Core Competencies
Chapter 16: Planning Audits and Understanding Project Management
16.1 The Project Management Process16.2 PMBOK: The Project Management Book of Knowledge16.3 PMBOK Program and Portfolio Management16.4 Planning an Internal Audit16.5 Understanding the Environment: Planning and Launching an Internal Audit16.6 Audit Planning: Documenting and Understanding the Internal Control Environment16.7 Performing Appropriate Internal Audit Procedures and Wrapping Up the Audit16.8 Project Management Best Practices and Internal AuditNote
Chapter 17: Documenting Audit Results through Process Modeling and Workpapers
17.1 Internal Audit Documentation Requirements17.2 Process Modeling for Internal Auditors17.3 Internal Audit Workpapers17.4 Workpaper Document Organization17.5 Workpaper Preparation Techniques17.6 Internal Audit Document Records Management17.7 Importance of Internal Audit DocumentationNotes
Chapter 18: Reporting Internal Audit Results
18.1 The Audit Report Framework18.2 Purposes and Types of Internal Audit Reports18.3 Published Audit Reports18.4 Alternative Audit Report Formats18.5 Internal Audit Reporting Cycle18.6 Internal Audit Communications Problems and Opportunities18.7 Audit Reports and Understanding People in Internal Auditing
Part 5: Impact of Information Systems on Internal Auditing
Chapter 19: ITIL® Best Practices, the IT Infrastructure, and General Controls
19.1 Importance of IT General Controls19.2 Client-Server and Small Systems General IT Controls19.3 Client-Server Computer Systems19.4 Small Systems Operations Internal Controls19.5 Auditing IT General Controls for Small IT Systems19.6 Mainframe Legacy System Components and Controls19.7 Internal Control Reviews of Classic Mainframe or Legacy IT Systems19.8 Legacy of Large System General Control Reviews19.9 ITIL® Service Support and Delivery IT Infrastructure Best Practices19.10 Service Delivery Best Practices19.11 Auditing IT Infrastructure Management19.12 Internal Auditor CBOK Needs for IT General ControlsNotes
Chapter 20: BYOD Practices and Social Media Internal Audit Issues
20.1 The Growth and Impact of BYOD20.2 Understanding the Enterprise BYOD Environment20.3 BYOD Security Policy Elements20.4 Social Media Computing20.5 Enterprise Social Media Computing Risks and Vulnerabilities20.6 Social Media Policies
Chapter 21: Big Data and Enterprise Content Management
21.1 Big Data Overview21.2 Big Data Governance, Risk, and Compliance Issues21.3 Big Data Management, Hadoop, and Security Issues21.4 Compliance Monitoring and Big Data Analytics21.5 Internal Auditing in a Big Data Environment21.6 Enterprise Content Management Internal Controls21.7 Auditing Enterprise Content Management ProcessesNotes
Chapter 22: Reviewing Application and Software Management Controls
22.1 IT Application Components22.2 Selecting Applications for Internal Audit Reviews22.3 Preliminary Steps to Performing Application Controls Reviews22.4 Completing the IT Application Controls Audit22.5 Application Review Example: Client-Server Budgeting System22.6 Auditing Applications under Development22.7 Importance of Reviewing IT Application ControlsNotes
Chapter 23: Cybersecurity, Hacking Risks, and Privacy Controls
23.1 Hacking and IT Network Security Fundamentals23.2 Data Security Concepts23.3 Importance of IT Passwords23.4 Viruses and Malicious Program Code23.5 System Firewall Controls23.6 Social Engineering IT Risks23.7 IT Systems Privacy Concerns23.8 The NIST Cybersecurity Framework23.9 Auditing IT Security and Privacy23.10 PCI DSS Fundamentals23.11 Security and Privacy in the Internal Audit Department23.12 Internal Audit’s Privacy and Cybersecurity Roles
Chapter 24: Business Continuity and Disaster Recovery Planning
24.1 IT Disaster and Business Continuity Planning Today24.2 Auditing Business Continuity Planning Processes24.3 Building the IT Business Continuity Plan24.4 Business Continuity Planning and Service Level Agreements24.5 Auditing Business Continuity Plans24.6 Business Continuity Planning Going ForwardNotes
Part 6: Internal Audit and Enterprise Governance
Chapter 25: Board Audit Committee Communications
25.1 Role of the Audit Committee25.2 Audit Committee Organization and Charters25.3 Audit Committee’s Financial Expert and Internal Audit25.4 Audit Committee Responsibilities for Internal Audit25.5 Audit Committee Review and Action on Significant Audit Findings25.6 Audit Committee and Its External Auditors25.7 Whistleblower Programs and Codes of Conduct25.8 Other Audit Committee RolesNote
Chapter 26: Ethics and Whistleblower Programs
26.1 Enterprise Ethics, Compliance, and Governance26.2 Ethics First Steps: Developing a Mission Statement26.3 Understanding the Ethics Risk Environment26.4 Summarizing Ethics Survey Results: Do We Have a Problem?26.5 Enterprise Codes of Conduct26.6 Whistleblower and Hotline Functions26.7 Auditing the Enterprise’s Ethics Functions26.8 Improving Corporate Governance PracticesNotes
Chapter 27: Fraud Detection and Prevention
27.1 Understanding and Recognizing Fraud27.2 Red Flags: Fraud Detection Signs for Internal Auditors27.3 Public Accounting’s Role in Fraud Detection27.4 IIA Standards for Detecting and Investigating Fraud27.5 Fraud Investigations for Internal Auditors27.6 Information Technology Fraud Prevention Processes27.7 Fraud Detection and the Internal AuditorNotes
Chapter 28: Internal Audit GRC Approaches and Other Compliance Requirements
28.1 The Road to Effective GRC Principles28.2 GRC Risk Management Components28.3 GRC and Internal Audit Enterprise Compliance Issues28.4 Importance of Effective GRC Practices and Principles
Part 7: The Professional Internal Auditor
Chapter 29: Professional Certifications: CIA, CISA, and More
29.1 Certified Internal Auditor Responsibilities and Requirements29.2 Beyond the CIA: Other IIA Certifications29.3 Importance of the CIA Specialty Certification Examinations29.4 Certified Information Systems Auditor29.5 Certified Information Security Manager29.6 Certified in the Governance of Enterprise IT29.7 Certified in Risk and Information Systems Control29.8 Certified Fraud Examiner29.9 Certified Information Systems Security Professional29.10 ASQ Internal Audit Certifications29.11 Other Internal Auditor Certifications
Chapter 30: The Modern Internal Auditor as an Enterprise Consultant
30.1 Standards for Internal Audit as an Enterprise Consultant30.2 Launching an Internal Audit Internal Consulting Facility30.3 Ensuring an Audit and Consulting Separation of Duties30.4 Consulting Best Practices30.5 Expanded Internal Audit Services to Management
Part 8: The Other Sides of Auditing: Professional Convergence
Chapter 31: Quality Assurance Auditing and ASQ Standards
31.1 Duties and Responsibilities of ASQ Quality Auditors31.2 Role of the Quality Auditor31.3 Performing ASQ Quality Audits31.4 Quality Assurance Reviews of the Internal Audit Function31.5 Launching the Internal Audit Quality Assurance Review31.6 Reporting the Results of an Internal Audit Quality Assurance Review31.7 Future Directions for Quality Assurance Auditing
Chapter 32: Six Sigma and Lean Techniques for Internal Audit
32.1 Six Sigma Background and Concepts32.2 Implementing Six Sigma32.3 Six Sigma Leadership Roles and Responsibilities32.4 Launching an Enterprise Six Sigma Project32.5 Lean Six Sigma32.6 Auditing Six Sigma Processes32.7 Six Sigma in Internal Audit OperationsNotes
Chapter 33: ISO and Worldwide Internal Audit Standards
33.1 ISO Standards Background33.2 ISO Standards Overview33.3 ISO 38500 IT Governance Standard33.4 ISO Standards and the COSO Internal Control Framework33.5 Internal Audit and International Auditing StandardsNotes
Chapter 34: A CBOK for the Modern Internal Auditor
34.1 Part One: Foundations of Internal Auditing CBOK Requirements34.2 Part Two: Importance of Internal Controls CBOK Requirements34.3 Part Three: Planning and Performing Internal Audit CBOK Requirements34.4 Part Four: Organizing and Managing Internal Audit Activities CBOK Requirements34.5 Part Five: Impact of IT on Internal Auditing CBOK Requirements34.6 Part Six: Internal Audit and Enterprise Governance CBOK Requirements34.7 Part Seven: Internal Auditor PROFESSIONAL CBOK Requirements34.8 Part Eight: The Other Sides of INTERNAL Auditing: Professional Convergence CBOK Requirements34.9 A CBOK for the Modern Internal AuditorNotes
About the Author
Index
EULA

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Brink's Modern Internal Auditing

by Robert R. Moeller

Part 1 Foundations of Modern Internal Auditing

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.