Deferral of internal control audits has become the norm, although the cost savings of doing so are perhaps not as great as envisioned.
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Under Auditing Standard 5, passed in mid-2007, the audit of internal control over financial reporting is now integrated with the audit of the financial statements.
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When assessing the effectiveness of internal control over financial reporting and compliance with financial-related laws and regulations, management must follow the assessment process contained in Appendix A. Annually, management must provide assurances on internal control in its Performance and Accountability Report, including a separate assurance on internal control over financial reporting, along with a report on identified material weaknesses and corrective actions.
WHITEHOUSE: OMB Circular A-123 - Management's Responsibility for Internal Control | The White House
Management shall consistently apply the internal control standards to meet each of the internal control objectives and to assess internal control effectiveness.
WHITEHOUSE: OMB Circular A-123 - Management's Responsibility for Internal Control | The White House
An analysis of CECONY internal control processes and systems showed that there were breakdowns in the controls and that these breakdowns provided opportunities for the arrestees to perpetrate fraud.
In one study of negotiations, 85% of men had an internal locus of control.
With new criminal and tort law now in effect, companies will be thinking of how to develop internal control procedures to prevent rogue employees from misusing customer data, and incorporating some of these guidelines may be prove to be a useful defense in case of individual lawsuits.
The SEC Complaint charged Peterson with with violations of the anti-bribery, books and records and internal control provisions of the FCPA, and with aiding and abetting violations of the anti-fraud provisions of the Investment Advisers Act of 1940.
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In addition to these efforts, we are in the process of documenting and testing our internal control over financial reporting in order to report on the effectiveness of our internal controls as of December 31, 2012, as required following our initial public offering in 2011.
In addition, although we continually review and evaluate internal control systems to allow management to report on the sufficiency of our internal controls, we cannot assure you that we will not discover additional weaknesses in our internal control over financial reporting.
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Did we make any progress in changing attitudes about control value of internal audit, as a very necessary cost of doing business, in the last seven years?
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More than 30 years ago the U.S. Department of Labor devised a mechanism for dealing with problematic conflicts of interest, governance and internal control issues within corporate pension plans.
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The crew of the Colorado, after some internal scuffles for command, decides to take control of the island of Sainte Marina, where there is a NATO radar installation.
PT's moderate wing, to which Lula belongs, risks losing control of the party in internal elections due in September.
On July 13, 2012, JPMorgan management, not PwC the auditors, reported that a material weakness existed in its internal control over financial reporting as of March 31, 2012.
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Management is responsible for establishing and maintaining internal control to achieve the objectives of effective and efficient operations, reliable financial reporting, and compliance with applicable laws and regulations.
WHITEHOUSE: OMB Circular A-123 - Management's Responsibility for Internal Control | The White House
Resignations are more common when litigation is in the wind and dismissals more frequently result from disagreements about issues such as internal control weaknesses and the reliability of financial reporting.
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Heart-rate variability, says Dr Stein, is a good index of the degree of control an individual has over his autonomic nervous system (which controls many of the internal organs).
Iraqi leaders bristle at Kurdish efforts to forge an independent foreign policy, and the two sides disagree over control of disputed areas along their shared internal border.
"This would put internal credit creation back under the control of the state, " they say, even if it only took the form of SME lending targets, credit easing and some infrastructure programmes.
The new TV Sound On feature allows users to instantly activate the system's 1, 330-watt sound while muting the internal TV speaker with a single click of the remote control.
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However, we can provide no assurance at this time that management will be able to report that our internal control over financial reporting is effective as of December 31, 2012, or that our registered public accounting firm will be able to attest that such internal controls are effective.
Beaconing detection is the act of identifying the communication between an internal compromised host and its command and control server.
The internal shift in control over IT responsibility is occurring for a couple of reasons.
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On Sunday, The Observer, a daily based in the United Kingdom, reported that Fuld is facing an internal campaign to wrestle the company from his control by the end of the year.
This Circular provides guidance to Federal managers on improving the accountability and effectiveness of Federal programs and operations by establishing, assessing, correcting, and reporting on internal control.
WHITEHOUSE: OMB Circular A-123 - Management's Responsibility for Internal Control | The White House
It's no surprise that humans are doing less and less of the dirty work while they simply control robotic creatures that are actually doing the internal repairs, but a UCLA researcher has devised a ridiculously tiny "microhand" to handle even the smallest surgery-related tasks.
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Last year, a water plant in Texas disconnected its control system from the Internet after a hacker posted pictures of the facility's internal controls.
It is possible that the mere existence of the ECB safety net is enough to maintain investor confidence, but Spain has some internal challenges: Madrid has little control over its (more fiscally irresponsible) semi-autonomous regions, its banks are in major trouble and its labor market needs urgent reform.
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