Is Your Company Vulnerable to Fraud – Part II: Fraud Indicator Checklist

HOW TO USE THE CHECKLIST 1. Review the concept for each internal control area and answer the questions following each section. 2. Each answer identifies an area that needs stronger internal controls. I. SEGREGATION OF DUTIES Concepts: • Certain accounting/bookkeeping functions are designed to cross-reference each other for accuracy.  If the same person is responsible for multiple duties, the …

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Importance of an Audit Committee

It is a known fact that audit committees are an essential component in corporate governance.  The public has been increasingly focused on oversight and governance issues since the Enron scandal.  However these issues aren’t just for the “for-profit” industry.  It is becoming more and more of an issue for the not-for-profit world.  Since the re-vamp …

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