Courtesy: Internal auditor training Integrated audits In the US, audits of publicly traded companies are governed by rules laid down by the Public Company Accounting Oversight Board (PCAOB), which was established by Section 404 of the Sarbanes–Oxley Act of 2002. Such an audit is called an integrated audit, where auditors, in addition to an opinion on the financial statements, must also […]
Tag Archives: deming cert
Courtesy: Internal auditor training An audit is an “independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern […]
Courtesy: Internal auditor training Most publicly traded corporations typically have an internal auditing department, led by a chief audit executive (“CAE”), with lead internal auditors managing small teams of internal auditors for one audit engagement. Lead auditor is a position between senior auditor and head of division. In public accounting firms, a lead auditor for an audit engagement is usually chosen from among the senior auditors. Certified lead auditor […]
Courtesy: Internal auditor ISO 14001 environment management system Do: Implement the processes During this stage, the organization identifies the resources required and works out those members of the organization responsible for the EMS’ implementation and control. This includes establishing procedures and processes, although only one documented procedure is specifically related to operational control. Other procedures are […]
Courtesy: Internal auditor ISO 14001 environment management system ISO 14001 defines criteria for an EMS. It does not state requirements for environmental performance but rather maps out a framework that a company or organization can follow to set up an effective EMS. It can be used by any organization that wants to improve resource efficiency, reduce […]
courtesy: Internal auditor ISO 14001 environment management system ISO 14000 is a family of standards related to environmental management that exists to help organizations (a) minimize how their operations (processes, etc.) negatively affect the environment (i.e. cause adverse changes to air, water, or land); (b) comply with applicable laws, regulations, and other environmentally oriented requirements; and (c) continually improve in […]
Courtesy: Internal auditor ISO 14001 environment management system EMS Model An EMS follows a Plan-Do-Check-Act, or PDCA, Cycle. The diagram shows the process of first developing an environmental policy, planning the EMS, and then implementing it. The process also includes checking the system and acting on it. The model is continuous because an EMS is a […]
Courtesy: Internal auditor ISO 14001 environment management system An environmental management system (EMS) is “a system and database which integrates procedures and processes for training of personnel, monitoring, summarizing, and reporting of specialized environmental performance information to internal and external stakeholders of a firm”. The most widely used standard on which an EMS is based is International Organization […]
Courtesy: Internal Auditor ISO 13485 Internal auditing activity is primarily directed at evaluating internal control. Under the COSO Framework, internal control is broadly defined as a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the following core objectives for which all businesses strive: Effectiveness and […]
Courtesy: Internal Auditor ISO 13485 The internal auditing profession evolved steadily with the progress of management science after World War II. It is conceptually similar in many ways to financial auditing by public accounting firms, quality assurance and banking compliance activities. While some of the audit technique underlying internal auditing is derived from management consulting and public accounting professions, the theory of internal auditing was […]