Here is a classic fraud that could easily have been prevented or quickly detected with the right internal control system in place (see links below). $40 million buys an incredible […]
AICPA Proposed Auditing Standard – Assessing Risk
The AICPA has issued a proposed Statement on Auditing Standards entitled: UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT The challenge for the reader is […]
State Agencies Obstruct Audits
The New York State Comptroller is complaining about State agencies obstructing audits. In his 2015–2016 Annual Report on Audits of State Agencies and Public Authorities. The Comptroller complains, “For the […]
NYS Comptroller’s Audit Function Comes Up Short
The NYS Comptroller’s Office issued an interesting audit report (2014-S-4) about dead people. The auditors found, “NYSOH [New York State of Health program] enrolled deceased individuals and continued Medicaid coverage […]
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