As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

A flow chart, or flow diagram, is a graphical representation of a process or system that details the sequencing of steps required to create output. A typical flow chart uses a set of basic symbols to ...

In its most recent guidance for compliance with Sarbanes-Oxley section 404 requirements for smaller entities, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has provided ...

Business process mapping is the strategic analysis of identifying and creating a visual depiction of the process flow of various areas of an organization. For example, the supply chain cycle is an ...

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 ...

Internal fraud controls aren't fire-and-forget. Smart collaboration and ongoing improvement will help keep fraud in check. Here are the basics. There are several keys to effective prevention, but some ...