* Helps the GAO meet government
auditing standards.
In fact, the new SAS even states that the lower level staff have the "professional responsibility" to let their concerns and disagreements be known to the appropriate individuals relating to
auditing and accounting issues they believe are significant to the audit.
Section 202--Preapproval Requirements: All
auditing services (including provision of comfort letters for securities underwritings or statutory audits required for insurance companies for state law purposes) and nonaudit services, other than nonaudit services that meet a de minimis exception, are subject to preapproval by the issuer's audit committee.
That paper fostered an international dialogue that contributed to the development of a landmark European proposal for an independent auditor oversight regime in Europe and to an unprecedented confluence in Brussels this past March of auditor oversight bodies from every European member state to discuss with us how we can mutually improve the quality of
auditing on both sides of the Atlantic."
He has authored textbooks in the
auditing area and received a research award from the Peat, Marwick, Mitchell Foundation.
This book examines eight components of implementing
auditing changes that will give shape and direction to a law enforcement agency's vision and culture.
* More than 80 percent of the nearly 400 companies responding to questions about continuous
auditing said they either had a continuous
auditing or monitoring process in place or were planning on developing one.
96's guidance by requiring that audit documentation be sufficient for an experienced auditor to understand--among other things--the nature, timing, extent and results of
auditing procedures the engagement auditors performed, the audit evidence they obtained and the conclusions they reached on significant matters.
In developing the audit white paper, the participants focused on identifying the issues involved when
auditing electronic records and assessing alternative approaches to the audit of such records.
Consultants also are experienced in this area and can probably offer the most up-to-date
auditing methodology.
Over the past several years the Sarbanes-Oxley Act and other events have dramatically affected the setting of
auditing standards and the focus of the audit process.
Talk about internal
auditing's role post-Sarbanes-Oxley.