An internal audit helps a company ensure it has the proper controls, governance and risk management processes in place, according to the Institute of Internal Auditors. By nature, it's an independent ...

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.

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 ...

With the exception of audits that require no prior notification to be effective, such as cash counts, the units are contacted shortly before the start of any audit. An entrance conference is held to ...

If, through an internal financial audit, issues are uncovered or the information a company is able to provide is not the specific, higher-level information needed, it will delay the audit process, ...

As the cost of compliance continues to increase, risk managers are finding that collaboration across the three lines of defense can achieve an integrated risk management solution that optimizes ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Michael Boyle is an experienced ...

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 ...

Scott Nevil is an experienced writer and editor with a demonstrated history of publishing content for Investopedia. He goes in-depth to create informative and actionable content around monetary policy ...

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish objectives by ...