Audit Programs
AuditNet Links
AuditNet Virtual Library
AuditNet Newsletter
Ask the Auditor
Audit Jobs
Partner Discounts
Search the Site
Our Sponsors
Advertise
Sign the Guestbook
AuditNet Home Page

Accounting Procedures for Internal Control
CLICK HERE TO ORDER

AuditNet® Book Review Corner February 2006

Accounting Best Practices 4^th Edition by Steven M. Bragg

Auditors constantly rely on best practices when evaluating organizations. Many auditors spend considerable time reviewing accounting department policies, procedures and activities. Areas that auditors concentrate on include customer service, cycle times, quality, profitability and reduced error rates. This book builds on the author’s previous work on the subject and includes twenty new best practices for billing, payroll and inventory as well as fifteen focusing on accounting management. There is a new chapter which has over thirty successful polices that support best practice implementation. In all, the book provides over 330 accounting best practices.

The author begins this publication with a chapter on how to use best practices including planning, timing and implementing. Auditors will find the best practices useful when reviewing accounting departments. The best practice summaries are written in active voice which will facilitate drafting observations and recommendations. Auditors will also find the chapter on Internal Auditing best practices helpful.

This book is an AuditNet recommended buy for your internal audit department professional library.

Sarbanes-Oxley and the Board of Directors: Techniques and Best Practices for Corporate Governance by Scott Green

In the era of corporate fraud at Enron and WorldCom the Boards of Directors role in corporate governance and oversight has emerged in a new light.  Board members need knowledge, tools and techniques to ensure Sarbanes-Oxley compliance. The author provides real-world examples and other information that will help board members, CEO’s, CFO’s, auditors and others understand their respective roles. There is a Board self-assessment questionnaire, model policies and more. This would be a good recommended reading book by internal auditors for their Board members.

Auditing the Risk Management Process by K. H. Spencer Pickett

Many of the questions that I receive through the AuditNet Ask the Auditor column focus on risk based auditing and the risk management process. This book answers many of the questions that auditors have about risk management. According to the IIA:

Risk Management is a fundamental element of corporate governance. Management is responsible for establishing and operating the risk management framework on behalf of the board.

The book includes coverage of risk management maturity, enterprise-wide risk management (ERM), risk appetite and control risk self assessment (CRSA). There is a chapter on developing an audit approach which provides auditors with a foundation for conducting an audit of risk management within the organization. The appendix is a 30 page ERM questionnaire categorized as a diagnostic tool.

I for one am glad to see this book as it will provide me a resource to recommend in answer to all those questions I get on AuditNet for this topic. This book is a recommended read and addition to your professional internal audit department library.