One of the most prominent contributors to our economy, but also one of the riskiest, is the manufacturing sector. The products these companies make are often highly perishable, and there are many moving parts in the manufacturing process. As a…
Internal Audit: Should You Conduct It Yourself Or Call Experts?
Checking the status of a company through an internal audit is necessary because only the constant strict control over the financial operations can guarantee the normal operation of the company, not exposed to harmful effects of mistakes, negligence, and fraud…
How to Assess Your Business Successfully
Today the concept of “internal audit” has become widespread in business. Many large enterprises and companies prefer to create their internal audit services and departments, training their employees. When deciding to conduct an internal audit, it is necessary to determine…
Internal Control Over Financial Reporting
INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) can be defined as a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. IFCR…