Internal Controls


Public Company Accounting Oversight Board (PCAOB) member Daniel L. Goelzer said in a recent speech that Sarbanes-Oxley Act section 404 compliance costs will fall and benefits rise, especially if certain principles become better understood in the marketplace ( www.pcaobus.org/news_and_events/events/2005/speech_text/04-29.asp ). He emphasized that internal control audits require professional judgment and that auditors should advise clients on accounting and control issues, focus on higher risk areas with potential for material findings, integrate financial statement and internal control audits and bear in mind that small companies don’t need the same types of controls or audits as their larger counterparts.

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Building client loyalty with payroll services

In this report, CPA experts detail their tactics for performing successful payroll services, how to mitigate risk in the process, and the impact payroll can have as a value-added service.

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Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.