A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.

As such, organizations are making their vendors obtain System and Organization Controls (SOC) attestation reports, as mandated by SSAE 16 and SSAE 18. A SOC report is a verifiable auditing report ...

Privately held companies operating internationally face risks that require a well-designed system of internal control to counteract. The system is contingent on general ledger applications, inventory, ...

Veterans of compliance with the Sarbanes-Oxley Act are now reporting record-low problems with internal control over financial reporting, although smaller companies newer to the SOX regime are still ...

Effectively managing internal controls for business systems is a top priority in order to prevent risks, stop fraud, keep a company secure – and experience clean, cost-effective audits. As the CTO of ...

HOUSTON--(BUSINESS WIRE)--Data Gumbo, the industrial smart contract network company, today announced successful completion of the SOC 1 Type 2 audit examination of its blockchain. The SOC 1 report ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

Here’s a quick breakdown of formal and informal audits: Audit (formal) – the annual ritual of providing objective evidence that a quality system is established, followed and effective. A good quality ...