Brink's modern internal auditing : a common body of knowledge / Robert R. Moeller.

Format:

Book

Author/Creator:

Moeller, Robert R., author.

Series:

Wiley corporate F & A.

Wiley Corporate F&A series

Language:

English

Subjects (All):

Auditing, Internal.

Physical Description:

1 online resource (835 pages).

Edition:

Eighth edition.

Place of Publication:

Hoboken, New Jersey : Wiley, 2016.

Language Note:

English

System Details:

text file

Summary:

The complete guide to internal auditing for the modern world Brink's Modern Internal Auditing: A Common Body of Knowledge, Eighth Edition covers the fundamental information that you need to make your role as internal auditor effective, efficient, and accurate. Originally written by one of the founders of internal auditing, Vic Brink and now fully updated and revised by internal controls and IT specialist, Robert Moeller, this new edition reflects the latest industry changes and legal revisions. This comprehensive resource has long been—and will continue to be—a critical reference for both new and seasoned internal auditors alike. Through the information provided in this inclusive text, you explore how to maximize your impact on your company by creating higher standards of professional conduct and greater protection against inefficiency, misconduct, illegal activity, and fraud. A key feature of this book is a detailed description of an internal audit Common Body of Knowledge (CBOK), key governance; risk and compliance topics that all internal auditors need to know and understand. There are informative discussions on how to plan and perform internal audits including the information technology (IT) security and control issues that impact all enterprises today. Modern internal auditing is presented as a standard-setting branch of business that elevates professional conduct and protects entities against fraud, misconduct, illegal activity, inefficiency, and other issues that could detract from success. Contribute to your company's productivity and responsible resource allocation through targeted auditing practices Ensure that internal control procedures are in place, are working, and are leveraged as needed to support your company's performance Access fully-updated information regarding the latest changes in the internal audit industry Rely upon a trusted reference for insight into key topics regarding the internal audit field Brink's Modern Internal Auditing: A Common Body of Knowledge, Eighth Edition presents the comprehensive collection of information that internal auditors rely on to remain effective in their role.

Contents:

Intro

Brink's Modern Internal Auditing

Contents

Preface

PART ONE: FOUNDATIONS OF MODERN INTERNAL AUDITING

Chapter 1: Significance of Internal Auditing in Enterprises Today: An Update

1.1 Internal Auditing History and Background

1.2 Mission of Internal Auditing

1.3 Organization of this Book

Note

Chapter 2: An Internal Audit Common Body of Knowledge

2.1 What Is a CBOK? Experiences from Other Professions

2.2 What Does an Internal Auditor Need to Know?

2.3 An Internal Auditing CBOK

CBOK Requirements: Importance of Internal Controls

CBOK Requirements: Planning and Performing Internal Audits

CBOK Requirements: Organizing and Managing Internal Audit Activities

CBOK Requirements: Impact of Information Technology on Internal Auditing

CBOK Requirements: Internal Audit and Enterprise Governance

CBOK Requirements: Internal Auditor Professional Certifications

CBOK Requirements: Internal Auditing Professional Convergence

2.4 Another Attempt: The IIA Research Foundation's CBOK

2.5 Essential Internal Audit Knowledge Areas

Notes

PART TWO: IMPORTANCE OF INTERNAL CONTROLS

Chapter 3: The COSO Internal Control Framework

3.1 Understanding Internal Controls

3.2 Revised COSO Framework Business and Operating Environment Changes

3.3 The Revised COSO Internal Control Framework

3.4 COSO Internal Control Principles

3.5 COSO Internal Control Components: The Control Environment

3.6 COSO Internal Control Components: Risk Assessment

Risk Identification and Analysis

Risk Response Strategies

3.7 COSO Internal Control Components: Internal Control Activities

Business Process Control Activities

Types of Transaction Control Activities

3.8 COSO Internal Control Components: Information and Communication

Importance of Using Relevant Information.

Importance of Internal Communications

3.9 COSO Internal Control Components: Monitoring Activities

3.10 The COSO Framework's Other Dimensions

Chapter 4: The 17 COSO Internal Control Principles

4.1 COSO Internal Control Framework Principles

4.2 Control Environment Principle 1: Integrity and Ethical Values

Affirming Adherence to the Code of Ethics

Code Violations and Corrective Actions

4.3 Control Environment Principle 2: Role of the Board of Directors

4.4 Control Environment Principle 3: Authority and Responsibility Needs

4.5 Control Environment Principle 4: Commitment to a Competent Workforce

4.6 Control Environment Principle 5: Holding People Accountable

4.7 Risk Assessment Principle 6: Specifying Appropriate Objectives

4.8 Risk Assessment Principle 7: Identifying and Analyzing Risks

4.9 Risk Assessment Principle 8: Evaluating Fraud Risks

4.10 Risk Assessment Principle 9: Identifying Changes Affecting Internal Controls

4.11 Control Activities Principle 10: Selecting Control Activities That Mitigate Risks

4.12 Control Activities Principle 11: Selecting and Developing Technology Controls

4.13 Control Activities Principle 12: Policies and Procedures

4.14 Information and Communication Principle 13: Using Relevant, Quality Information

Information from Relevant Sources

Processing Data through Information Systems

4.15 Information and Communication Principle 14: Internal Communications

Internal Control Communication

Internal Communication beyond Normal Channels

Methods of Communication

4.16 Information and Communication Principle 15: External Communications

4.17 Monitoring Principle 16: Internal Control Evaluations

4.18 Monitoring Principle 17: Communicating Internal Control Deficiencies

Chapter 5: Sarbanes-Oxley (SOx) and Beyond.

5.1 Key Sarbanes-Oxley Act (SOx) Elements

Title I: Public Company Accounting Oversight Board

Title II: Auditor Independence

Title III: Corporate Responsibility

Title IV: Enhanced Financial Disclosures

Title V: Analyst Conflicts of Interest

Titles VI through X: Fraud Accountability and White‐Collar Crime

Title XI: Corporate Fraud Accountability

5.2 Performing Section 404 Reviews under AS5

5.3 AS5 Rules and Internal Audit

5.4 Impact of the Sarbanes-Oxley Act

Chapter 6: COBIT and Other ISACA Guidance

6.1 Introduction to COBIT

6.2 COBIT Framework

6.3 Principle 1: Meeting Stakeholder Needs

6.4 Principle 2: Covering the Enterprise End to End

6.5 Principle 3: A Single Integrated Framework

6.6 Principle 4: Enabling a Holistic Approach

6.7 Principle 5: Separating Governance from Management

6.8 Using COBIT to Assess Internal Controls

6.9 Mapping COBIT to COSO Internal Controls

Chapter 7: Enterprise Risk Management: COSO ERM

7.1 Risk Management Fundamentals

Risk Identification

Key Risk Assessments

Probability and Uncertainty

Risk Interdependencies

Risk Ranking

Quantitative Risk Analysis: Expected Values and Response Planning

Quantitative Risk Analysis: Risk Monitoring

7.2 COSO ERM: Enterprise Risk Management

7.3 COSO ERM Key Elements

COSO ERM: The Internal Environment Component

COSO ERM Objective Setting

COSO ERM Event Identification

COSO ERM Risk Assessment

COSO ERM Risk Response Elements

COSO ERM Control Activities

COSO ERM Information and Communication

COSO ERM Monitoring

7.4 Other Dimensions of COSO ERM: Enterprise Risk Objectives

Operations Risk Management Objectives

Reporting Risk Management Objectives

Legal and Regulatory Compliance Risk Objectives

7.5 Entity-Level Risks.

Risks Encompassing the Entire Organization

7.6 Putting It All Together: Auditing Risk and COSO ERM Processes

PART THREE: PLANNING AND PERFORMING INTERNAL AUDITS

Chapter 8: Performing Effective Internal Audits

8.1 Initiating and Launching an Internal Audit

8.2 Organizing and Planning Internal Audits

8.3 Internal Audit Preparatory Activities

Determine the Audit Objectives

Audit Schedule and Time Estimates

Internal Audit Preliminary Surveys

8.4 Starting the Internal Audit

Internal Audit Field Surveys

Documenting the Internal Audit Field Survey

Field Survey Auditor Conclusions

8.5 Developing and Preparing Audit Programs

Audit Program Formats and Their Preparation

Types of Audit Evidence

8.6 Performing the Internal Audit

Internal Audit Fieldwork Initial Procedures

Audit Fieldwork Technical Assistance

Audit Management Fieldwork Monitoring

Potential Audit Findings

Audit Program and Schedule Modifications

Reporting Preliminary Audit Findings to Management

8.7 Wrapping Up the Field Engagement Internal Audit

8.8 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 Component

Background of the IIA Standards

9.3 Content of the IIA Standards

Internal Audit Attribute Standards

Internal Audit Performance Standards

9.4 Codes of Ethics: The IIA and ISACA

9.5 Internal Audit Principles

9.6 IPPF Future Directions

Chapter 10: Testing, Assessing, and Evaluating Audit Evidence

10.1 Gathering Appropriate Audit Evidence

10.2 Audit Assessment and Evaluation Techniques

10.3 Internal Audit Judgmental Sampling

10.4 Statistical Audit Sampling: An Introduction.

10.5 Developing a Statistical Sampling Plan

Random Number Audit Sample Selection

Interval Selection Audit Sample Selection

Stratified Selection Audit Sample Selection

Cluster Selection Audit Sample Selection

10.6 Audit Sampling Approaches

Attributes Sampling Procedures

Performing an Attributes Sampling Test

10.7 Attributes Sampling Audit Example

10.8 Attributes Sampling Advantages and Limitations

10.9 Monetary Unit Sampling

Selecting the Monetary Unit Sample: An Example

Performing the Monetary Unit Sampling Test

10.10 Other Audit Sampling Techniques

Multistage Sampling

Replicated Sampling

Bayesian Sampling

10.11 Making Efficient and Effective Use of Audit Sampling

Chapter 11: Continuous Auditing and Computer-Assisted Audit Techniques

11.1 Implementing Continuous Assurance Auditing

What Is a Continuous Assurance Auditing and Monitoring System?

Resources for Implementing a CAA

11.2 ACL, NetSuite, BusinessObjects, and Other Continuous Assurance Systems

11.3 Benefi ts of CAA

11.4 Computer-Assisted Audit Tools and Techniques

11.5 Determining the Need for CAATTS

11.6 Steps to Building Effective CAATTS

11.7 Importance of Using CAATTS for Audit Evidence Gathering

11.8 XBRL: The Internet-Based Extensible Marking Language

XBRL Defined

Implementing XBRL

Chapter 12: Control Self-Assessments and Internal Audit Benchmarking

12.1 Importance of Control Self-Assessments

12.2 CSA Model

12.3 Launching the CSA Process

Performing the Facilitated CSA Review

Performing the Questionnaire‐Based CSA Review

Performing the Management‐Produced Analysis CSA Review

12.4 Evaluating CSA Results

12.5 Benchmarking and Internal Audit

Implementing Benchmarking to Improve Processes

Benchmarking and the IIA's GAIN Initiative.

12.6 Better Understanding Internal Audit Activities.

Notes:

Includes bibliographical references and index.

Includes index.

Description based on print version record.

ISBN:

9781119180005

1119180007

9781119180012

1119180015

9781119179993

1119179998

OCLC:

911618031