Control testing has typically been run out of a bank s internal audit group, the Sarbanes-Oxley compliance team, a centralized control testing unit, or all of the above. Rarely has it been coordinated ...

Graham argued that the economics of control testing have changed since the implementation of risk assessment standards. With auditors now required to assess controls regardless, there are more ...

One way to overcome resistance to internal control is to educate stakeholders at every level of the organization about its advantages. Try the following quiz to test your knowledge of internal control ...

Control testing becomes more difficult as firms scale up and implement more controls to keep pace with new regulations and an increasingly more complex business environment.

Thus, an effective risk assessment will ensure that maximal resources are directed towards products, equipment, and processes deemed high risk and minimal resources towards those deemed low risk. Less ...