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Internal Controls Guide (3rd Edition)

Internal Controls Guide (3rd Edition)

Author: Wanda A. Wallace
Publisher: CCH U.S.
ISBN: 0808090046
Published In: September 2005
Format: Paperback , 1900 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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The Internal Controls Guide, previously published as Handbook of Internal Accounting Controls , describes the critical elements of internal control as necessitated by the Sarbanes-Oxley Act of 2002. It is a roadmap for effective and efficient planning for control documentation, monitoring, and follow-up activities for the major operating cycles of a business. The requirements of Auditing Standard No. 2 are reflected in forms, checklists, and efficiency suggestions throughout the book.

Assessing control risk and evaluating controls
Designing and evaluating controls for the income-producing and production cycles and financing and nonroutine transactions
Fraud detection
Statistical method practical considerations
Preparing effective management letters and attest engagements

Understanding Control, Assessing Control Risk, And Evaluating Controls
Controls And Enterprise Risk Management
The Effects Of Technology On Control
Special Attention To Fraud Detection Issues
A Recommended Approach To Designing And Evaluating Controls: Identify The Critical Elements Of Internal Control
Six Useful Tools Of The Trade Their Application In The Design And Evaluation Of Controls
Expanded Treatment Of Tests Of Controls Via Statistical Method Practical Considerations
How To Formulate An Audit Plan: Selecting The Right Mix Of Tests Of Control Substantive And Dual Purpose Tests
How To Design And Evaluate Internal Controls For The Revenue Or Income-Producing Cycle
How To Design And Evaluate Internal Controls For The Cost Of Sales Or Production Cycle
How To Design And Evaluate Internal Controls For Financing And Nonroutine Transactions
How To Handle Control Concerns Unique To Computer Systems
Putting It All Together: How To Produce A Global Picture Of An Entity's Controls
How To Prepare Effective Management Letters
Performing Attest Engagements To Report On Entities’ Internal Control And PCAOB-Prescribed Audits Of Controls Over Financial Reporting
Control Problems By Industry Type
Reporting Issues
Adapting The Design And Evaluation Of Controls To Not-For-Profit Entities
Litigation Support Considerations
Overview, Challenges For The Future, And Unanswered Questions

Wanda A. Wallace, Ph.D., CPA, CMA, CIA is the John N. Dalton Professor of Business Administration, Emerita, at the College of William and Mary in Williamsburg, Virginia. Dr. Wallace was selected as the recipient of the Association of Government Accountants’ (AGA’s) 2002 Cornelius Tierney/Ernst &Young Research Award in recognition of her outstanding research accomplishments over her career.

Dr. Wallace joined the Financial Accounting Standards Advisory Council (FASAC) that advises the Financial Accounting Standards Board (FASB) in 1991 and served through 1995. Dr. Wallace served on the Government Auditing Standards Advisory Council from 1991 through 1996. She consults with national and international firms, ensuring up-to-date appreciation of current practice problems.

Dr. Wallace has authored over 40 books and monographs, including Mastery of the Financial Accounting Research System (FARS) Through Cases; Performance Measurement and Risk Monitoring; and Pro Forma Before and After the SEC’s Warning A Quantification of Reporting Variances from GAAP. In addition, she has authored over 200 articles in journals such as the Harvard Business Review, European Management Journal, Accounting Review, and Journal of Accounting Research. Dr. Wallace also has served on the editorial boards of numerous national and/or international journals, including the British Accounting Review, Accounting and Business Research, and Journal of Accounting and Public Policy.