They may be too close to the programs to see the problems, or they may not have the time and resources an independent audit
brings to bear to thoroughly evaluate their programs and identify problems.
1 Establish an effective internal audit
function that reports to the audit
They reviewed our audit
policies and process controls, examined a representative sample of our 2004 audit
engagement files and reports on government programs, and interviewed senior managers and staff responsible for selected engagements.
The new standards are expected to enhance the application of the long-standing audit
risk model and improve the quality of audits
because they specifically require auditors to:
A copy the 1997 audit
, which was obtained by the Daily News, offers a rare public window into the often secret activities of the LAPD's anti- terrorism unit.
The Not-for-Profit Organizations audit
and accounting guide reflects all of the recently issued accounting and auditing standards that affect the industry.
Wilson contrasted the positive experience of the HP audit
with the negative feedback received regarding MTC audits
No limitation on selection of audit
firm or compensation of same.
report: A document or other record prepared after an audit
performed to comply with securities law requirements, and in which a public accounting firm either expresses an opinion on a financial statement, report or other document, or asserts that no such opinion can be expressed (SOA Section 2(a)(4)).
The legislation, signed by President Bush on July 30, 2002, applies to all publicly held companies, their audit
firms, and all actively working auditors.
If a truly independent and expert audit
had been performed by a skilled underwriter, the antiseptic nature of the files might have been detected.
After completing an audit
and correcting all the problem areas, equipment will run faster and smoother and be more productive.