Building an effective internal audit function: learning from SOX Section 404 reports

In the wake of the major accounting scandals, internal auditing has emerged as a powerful force in promoting effective controls, risk management, and governance in U.S. companies. This article highlights recent internal audit-related problems that were revealed in SOX Section 404 reports and offers...

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Bibliographic Details
Published in:Review of business 2008-12, Vol.28 (2), p.13
Main Authors: Hermanson, Dana R, Ivancevich, Daniel M, Ivancevich, Susan H
Format: Article
Language:English
Subjects:
Accounting
Accounting firms
Audit committees
Audit departments
Auditing standards
Auditors
Compliance
Corporate governance
Financial reporting
Financial statements
Fraud
Internal auditing
Internal auditors
Laws, regulations and rules
Management
Public companies
Public Company Accounting Reform & Investor Protection Act 2002-US
Risk assessment
Risk management
Studies
Workforce planning
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Summary:In the wake of the major accounting scandals, internal auditing has emerged as a powerful force in promoting effective controls, risk management, and governance in U.S. companies. This article highlights recent internal audit-related problems that were revealed in SOX Section 404 reports and offers specific recommendations for building an effective, value-adding internal audit function. [PUBLICATION ABSTRACT]
ISSN:0034-6454