How Documented Accounting Policies and Procedures Provide Consistency

Generally Accepted Accounting Principles (GAAP) are the accounting standards used in the US, while the International Financial Reporting Standards (IFRS) are the accounting standards used in over 110 countries around the world. GAAP is considered a more “rules based” system of accounting, while IFRS is more “principles based". Originally, the U.S. Securities and Exchange Commission was looking to switch to IFRS by 2015. It now seems that this conversion deadline has been pushed out many years.

Create The Minimum Cost Route to Sarbanes-Oxley Compliance

The Sarbanes-Oxley Act of 2002 (“Act”) was passed in response to some very unfortunate financial disasters in the stock market. Enron, WorldCom and Tyco were the poster children for the lack of internal controls over financial reporting. The accounting industry was self-regulated with little governmental oversight.

Discover 7 Quick and Powerful Data Analytics Queries

Are you taking advantage of very affordable analytical tools that can have a real and positive impact on your earnings and controls? Data analytics and continuous monitoring technologies can identify errors, fraud and inefficiencies by independently validating entire populations of transactions against specified control parameters and business rules.

How to Identify and Manage IT Risks

IT risks are business risks. They are associated with the use, ownership, operation, influence and adoption of IT within a company. Positive risks could be enablers for new business initiatives and efficient operations, which increase a business' competitive advantages.