Internal Control Advice and Ratings
Find internal control information to keep your business sound and compliantInternal control systems and processes have always been critical to business. They're your checks and balances, helping you manage your resources and protect yourself against fraud and loss. Since the passage of the Sarbanes-Oxley Act of 2002, however, internal control activities have become even more important in assuring compliance with financial reporting regulations.
Whether you are looking for internal control information for your own accounting staff or are seeking to hire an internal control provider, there's a wealth of advice available. You get what you pay for here. Programs and resources that offer internal control advice and ratings may require a substantial investment, but they can pay for themselves in helping you avoid costly audit errors and prevent fraud.
1. Look to professional internal control organizations for advice on implementing procedures.
2. Rely on the internal control ratings standards developed by COSO.
3. Use industry rankings for internal control advice and ratings when seeking to hire an internal control provider.
Find internal control advice and guidance from leaders in the field
Get specific internal control advice and ratings based on COSO principlesCOSO, the Committee of Sponsoring Organizations of the Treadway Commission, developed the key principles used in assigning ratings to assets in internal control applications. Look for internal control advice and ratings resources that help you understand and apply the COSO model.
Rely on industry rankings to choose an outside internal control providerMany businesses choose to hire outside accounting firms to handle their internal control and other audit services. In order to choose the best firm for your needs, turn to internal control advice and ratings found in annual industry rankings of accounting firms.
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