Brink's Modern Internal Auditing E-Book

Robert R. Moeller

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: Wiley Corporate F&A
• Sprache: Englisch

Seitenzahl: 1793

Veröffentlichungsjahr: 2015

Beschreibung

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 Editionpresents the comprehensive collection of information that internal auditors rely on to remain effective in their role.

Leseprobe

The Wiley Corporate F&A series provides information, tools, and insights to corporate professionals responsible for issues affecting the profitability of their company, from accounting and finance to internal controls and performance management.

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Brink's Modern Internal Auditing

Eighth Edition

A Common Body of Knowledge

ROBERT R. MOELLER

Cover design: Wiley

Copyright © 2016 by John Wiley & Sons, Inc. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

The Seventh Edition was published by Wiley in 2009.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Moeller, Robert R. Brink's modern internal auditing : a common body of knowledge / Robert R. Moeller. — Eighth edition. pages cm. — (Wiley corporate F&A) Revised edition of the author's Brink's modern internal auditing, 2009. Includes index. ISBN 978-1-119-01698-4 (hardback) — ISBN 978-1-119-18000-5 (ePDF) — ISBN 978-1-119-17999-3 (ePub) — ISBN 978-1-119-18001-2 (oBook) 1. Auditing, Internal. I. Title. HF5668.25.M64 2015 657'.458—dc23 2015023640

Dedicated to my best friend and wife, Lois Moeller. Lois has been my companion and partner for over 45 years, whether we are somewhere in the world visiting an interesting historical location, attending one of Chicago's many music and theater events, gardening vegetables in the backyard, or finding the right wine and cooking the produce.

CONTENTS

Preface

Part 1: 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

2.4 Another Attempt: The IIA Research Foundation’s CBOK

2.5 Essential Internal Audit Knowledge Areas

Notes

Part 2: 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

3.7 COSO Internal Control Components: Internal Control Activities

3.8 COSO Internal Control Components: Information and Communication

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

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

4.15 Information and Communication Principle 14: Internal Communications

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

Note

Chapter 5: Sarbanes-Oxley (SOx) and Beyond

5.1 Key Sarbanes-Oxley Act (SOx) Elements

5.2 Performing Section 404 Reviews under AS5

5.3 AS5 Rules and Internal Audit

5.4 Impact of the Sarbanes-Oxley Act

Notes

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

Notes

Chapter 7: Enterprise Risk Management: COSO ERM

7.1 Risk Management Fundamentals

7.2 COSO ERM: Enterprise Risk Management

7.3 COSO ERM Key Elements

7.4 Other Dimensions of COSO ERM: Enterprise Risk Objectives

7.5 Entity-Level Risks

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

Notes

Part 3: 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

8.4 Starting the Internal Audit

8.5 Developing and Preparing Audit Programs

8.6 Performing the Internal Audit

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

9.3 Content of the IIA Standards

9.4 Codes of Ethics: The IIA and ISACA

9.5 Internal Audit Principles

9.6 IPPF Future Directions

Notes

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

10.6 Audit Sampling Approaches

10.7 Attributes Sampling Audit Example

10.8 Attributes Sampling Advantages and Limitations

10.9 Monetary Unit Sampling

10.10 Other Audit Sampling Techniques

10.11 Making Efficient and Effective Use of Audit Sampling

Notes

Chapter 11: Continuous Auditing and Computer-Assisted Audit Techniques

11.1 Implementing Continuous Assurance Auditing

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

11.3 Benefits 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

Notes

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

12.4 Evaluating CSA Results

12.5 Benchmarking and Internal Audit

12.6 Better Understanding Internal Audit Activities

Notes

Chapter 13: Areas to Audit: Establishing an Audit Universe and Audit Programs

13.1 Defining the Scope and Objectives of the Internal Audit Universe

13.2 Assessing Internal Audit Capabilities and Objectives

13.3 Audit Universe Time and Resource Limitations

13.4 “Selling” an Audit Universe Concept to the Audit Committee and Management

13.5 Assembling Audit Programs: Audit Universe Key Components

13.6 Audit Universe and Program Maintenance

Part 4: Organizing and Managing Internal Audit Activities

Chapter 14: Charters and Building the Internal Audit Function

14.1 Establishing an Internal Audit Function

14.2 Audit Committee and Management Authorization of an Audit Charter

14.3 Establishing an Internal Audit Function

Notes

Chapter 15: Managing the Internal Audit Universe and Key Competencies

15.1 Auditing in the Weeds: Problems with Reviews of Nonmainstream Audit Areas

15.2 Importance of an Audit Universe Schedule: What Is Right or Wrong

15.3 Importance of Internal Audit Key Competencies

15.4 Importance of Internal Audit Risk Management

15.5 Internal Auditor Interview Skills

15.6 Internal Audit Analytical and Testing Skills Competencies

15.7 Internal Auditor Documentation Skills

15.8 Recommending Results and Corrective Actions

15.9 Internal Auditor Negotiation Skills

15.10 An Internal Auditor Commitment to Learning

15.11 Importance of Internal Auditor Core Competencies

Chapter 16: Planning Audits and Understanding Project Management

16.1 The Project Management Process

16.2 PMBOK: The Project Management Book of Knowledge

16.3 PMBOK Program and Portfolio Management

16.4 Planning an Internal Audit

16.5 Understanding the Environment: Planning and Launching an Internal Audit

16.6 Audit Planning: Documenting and Understanding the Internal Control Environment

16.7 Performing Appropriate Internal Audit Procedures and Wrapping Up the Audit

16.8 Project Management Best Practices and Internal Audit

Note

Chapter 17: Documenting Audit Results through Process Modeling and Workpapers

17.1 Internal Audit Documentation Requirements

17.2 Process Modeling for Internal Auditors

17.3 Internal Audit Workpapers

17.4 Workpaper Document Organization

17.5 Workpaper Preparation Techniques

17.6 Internal Audit Document Records Management