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"In the new age of philanthropy, donors expect charities to be models of accountability and transparency...Internal controls: Guidance for Private, Government, and Nonprofit Entities is a must read for CEOs and CFOs who want to gain a clear understanding of cost-effective ways to implement the controls necessary to protect their organizations." - Elizabeth Myatt, Chief Executive Officer, World Lung Foundation "If you were looking for the silver bullet to understand and audit internal controls, you just found it. This book will prove invaluable in planning the audit internal controls, you just found it. This book will prove invaluable in planning the audit because it specifically covers COSO and the new AICPA risk assessment auditing standards. " - George I. Victor, CPA, Partner in Charge of Quality Control, Holtz Rubenstein Reminick LLP "Author Lyn Graham gives practical, easy-to-understand guidance for documenting internal controls. I recommend this book for both my clients and our staff. It is very useful for auditors and clients alike." - David E. Adams, CPA, Partner, Geffen Mesher & Company "This book is an essential guide...and provides very practical advice about what to do(and what not to do) in making an investment in internal controls. The author's expensive experience as an audit firm partner and standard-setter are evident in the details provided. I also recommend this book to teaches of auditing and systems, as it provides a useful background to...how internal controls really should work in today's business environment." - Jean C. Bedard, CPA, PhD, Timothy B. Harbert Professor of Accountancy, Bentley College
1. An Introduction.
2. First Steps - A Pilot Project.
3. The Five Components of the Controls Framework.
Appendix 3A: Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees.
4. Documenting Internal Controls Using a Framework.
Appendix 4A: Sample Control Objectives for Major Cycles .
5. Setting the Scope of Your Documentation Project - Identifying the Core.
6. Establishing a Basis for Controls Effectiveness - Testing Controls.
Appendix 6A — Sample Size Tutorial.
Appendix 6B — Conducting Interviews - Gathering Internal Control Information.
7. Assessing Design Effectiveness and Operating Effectiveness.
Appendix 7A — A Framework for Evaluating Control Exceptions and Deficiencies.
8. Fraud Risks and Entity Self Defense.
Appendix 8A — Management Antifraud Programs and Controls: An Element of the Control Environment.
Appendix: Instructions for the Controls Design Assessment Case Study.
Part 1: Narrative of Controls Design.
Contribution to Cash Cycle - CCS.
Part 2:. Contribution to Cash Cycle with Control Procedures - CCS.
Part 3: Contribution to Cash Cycle - Completed - CCS.