by Online Tutorial & Training Guide | Oct 20, 2025 | Internal Controls & Compliance, Terminologies
An independent examination of financial statements by a third-party auditor. Provides assurance to investors, creditors, and regulators. Required for public companies and many large entities.
by Online Tutorial & Training Guide | Oct 2, 2025 | Internal Controls & Compliance, Terminologies
A U.S. law passed in 2002 to enhance corporate governance and financial transparency. Requires stricter internal controls and auditor independence. Applies mainly to publicly traded companies.
by Online Tutorial & Training Guide | Sep 22, 2025 | Internal Controls & Compliance, Terminologies
Processes designed to safeguard assets, ensure reliable reporting, and promote compliance with laws. Includes separation of duties, approvals, and reconciliations. A strong system reduces fraud risk.
by Online Tutorial & Training Guide | Sep 17, 2025 | Internal Controls & Compliance, Terminologies
A model explaining factors that lead to fraud: pressure, opportunity, and rationalization. Widely used in auditing and forensic accounting. Helps organizations design better controls.
