March 2008
Intermediate to advanced
1127 pages
33h 30m
English
book
Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices
by Anthony Tarantino
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CHAPTER 22
INTERNAL CONTROLS BEST PRACTICES
22.1 OVERVIEW
(a) Controls over Planning and Budgeting
(b) Controls over Operational Risk
(c) Controls over Financial Statement Risk
(d) Compliance-Related Controls
(e) The Audit Imperative
(f) Remediation
(g) Enterprise Risk Management, COSO ERM
22.2 COSO II
(a) Assessment of Controls
(i) Design Effectiveness and Operational Effectiveness
(ii) Scoping of the Audit Requirement
(iii) Materiality
(iv) Relevance
(v) Top-Down Approach to Controls Assessment
22.3 AUTOMATION OF CONTROLS
(a) Prevention versus Detection
(b) Field-Level Audit
22.4 TYPES OF AUTOMATED CONTROLS
(a) Access Controls
(b) Process Controls
(c) Continuous Monitoring
(i) Control Areas
(d) Transaction Controls
(e) Master Data Controls
(f) System Configuration Controls
(i) Accounting, Consolidation, and Financial Reporting Controls
(ii) Subsidiary Ledger Controls
22.5 PRIMARY FINANCIAL CONTROL CONSIDERATIONS
(a) Revenue Cycle
(b) Procurement Cycle
(c) Intangibles
(d) Property, Plant, and Equipment Cycle
(e) Inventory/Production Cycle
(f) HR/Payroll Cycle
(g) Equity Cycle
(h) Financial Close and Reporting Cycle
(i) Tax Cycle
(j) Legal Cycle
22.6 COMBINING COMPLIANCE AND OPERATIONAL REQUIREMENTS TO ACHIEVE AN ROI ON COMPLIANCE EXPENDITURE
(a) Practical Considerations
22.7 FURTHER CONSIDERATIONS
(a) Company-Level Controls and the Control Environment
(b) International Considerations
(c) COBIT
22.8 CONCLUSION
NOTES
22.1 OVERVIEW
In its pure essence, a business exists ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.