Exploring the five stages of the Capability Maturity Model helps businesses evaluate their operational capability and effectiveness. By understanding each stage and its characteristics, companies can ...

An auditor must make key decisions regarding what controls to trust, what controls to inspect and what weight to place on all the tests associated with auditing the financial practices of a company.

The internal audit: It’s a necessary part of conducting business that, done right, can at once assess operations, identify areas for improvement, manage risks and help maintain compliance. Now more ...

To ensure that your committee is up to its mission, you must first define the mission by drafting a strong charter that identifies audit committee functions, authority and responsibilities, along with ...

Every audit requires dedicated time, precise coordination and extensive resources. Audit firms work with many clients and schedule their people and resources months in advance of the actual audit. If ...

U.S. Food and Drug Administration (FDA) audits can uncover violations of the Food, Drug, and Cosmetic Act (FD&C Act) and other federal food and drug laws and regulations. Those violations can lead to ...

Almost without exception, companies make the claim that they won’t make their auditor decision based solely on fees. While fees are important, those charged with corporate governance (typically the ...

Documenting the nature, timing, extent, and results of your procedures may seem as if it will break your audit budget, but many practitioners have found that this isn’t the case. An AICPA study found ...