I'm embarrassed. I just finished an article about the $31 million fraud case at Koss Corp. Its auditor, Grant Thornton, said, "The company did not engage Grant Thornton to conduct an audit of internal ...

Internal controls are put in place by company management to help a company achieve its institutional goals. While internal controls are adapted to the companies they protect, there are some controls ...

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 ...

Independent internal verification works to make sure your employees are following the rules and not shortcutting internal controls. Unlike an external audit, which focuses on financial statement ...

Academic research in internal audit provides best practices and pertinent information for external and internal auditors. Below, we summarize recent internal audit research from leading academic ...

Auditors who issue adverse opinions regarding a client's internal controls can find their careers derailed, according to a recent study. Processing Content The study, released in March, found that ...

Several years ago, the U.S. Securities and Exchange Commission (SEC) issued an order against a public company that raised more than a few eyebrows. In that order, the company settled to violations of ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The window for “wait and see” is closing. Companies must have a clear AI adoption road map for finance and audit in 2026.

The External Audit Committee (EAC) has three members, all of whom are independent of the IMF and its Executive Board. The EAC reports to the Board of Governors and is responsible for the oversight of ...