Audit
Members of the Internal Audit Council were surveyed to determine if they are being asked to assess their audit function against "world class" standards, and if so, what criteria they are using in assessing their audit function. Most are not currently assessing their audit function to these...
The Internal Audit Council members were surveyed to determine if they are using an internal audit management software, and if so, what are the greatest and least benefits the software offers. Over half of the members are using an internal audit management software, with TeamMate being used by the...
The Inaugural Data Analytics Forum will be held on November 28, 2012 at the Hilton Rosemont near Chicago O'Hare Airport. The Forum will consist of discussions led by member company representatives focusing on how manufacturers are creating effective internal audit-data analytics functions with a...
Many importations into the United States involve trade between related parties. Related party transactions are subject to rules to ensure that the relationship between the parties does not affect the price for purposes of Customs valuation when the merchandise is imported into the United States....
Responses from 79 leading manufacturing companies provide valuable data on audit fees paid in 2010 and 2011. The report includes data on the ratio of audit fees to revenue as well as analysis of various factors that determine these fees and which contribute to the observed variation in the ratio...
At the spring 2012 meeting of Internal Audit Council II, several members indicated that their audit teams conduct satisfaction surveys of their auditees following completion of audits. A number of members have submiited examples of their survey questionnaires. Those questionnaires are posted on...
The meeting summaries for the Internal Audit Councils' spring meetings have been posted on the Councils' webpage for Internal Audit Council Resources. It outlines such topics as FCPA and due diligence screenings of third parties, accelerating the auditing process and improving audit quality, plant...
The Securities and Exchange Commission (SEC) recently established a new Office of the Whistleblower in response to requirements of The Dodd-Frank Wall Street Reform and Consumer Protection Act. That statute requires the SEC to establish a program to pay awards to eligible whistleblowers who...
Reflecting insights from 43 manufacturers, this MAPI survey shows that the compliance function is expanding and evolving, and offers keen insight on the various aspects of a Chief Compliance Officer position and the function's organizational structure, personnel, and budgeting. The 49 substantive...
The sixth annual MAPI survey on audit fees found that the average revenue of 83 companies increased from FY2009 to FY2010 while their average audit fee fell. As a result, the average audit fee/revenue ratio fell. There was considerable variation in the audit fee/revenue ratios across these...