Internal Controls Toolkit - (Wiley Corporate F&a) by Christine H Doxey (Hardcover)

Book Synopsis

Step-by-step guidance on creating internal controls to manage risk

Internal control is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies.

This is a "toolkit" approach that addresses a practical need for a series of standards of internal controls that can be used to mitigate risk within any size organization. Inadequate internal controls can cause a myriad of problems that adversely affect its ability to provide reliable, timely, and useful financial and managerial data needed to support operating, budgeting, and policy decisions. Reliable data is necessary to make sound business decisions.

- Toolkit approach with detailed controls and risks outlined for key business processes

- Foundational for SOX 404 initiatives

- Key material to improve internal control efforts

- Guidance during M&A projects

Poor controls over data quality can cause financial data to be unreliable, incomplete, and inaccurate--this book helps you control that quality and manage risk.

From the Back Cover

All companies, regardless of size, structure, nature, or industry, encounter risks at all levels within their organization. In their 2018 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) reported that internal control weaknesses were responsible for nearly half of all frauds reported. Internal Controls Toolkit is an authoritative and comprehensive book that outlines the standards of internal controls that organizations (of all types and sizes) can use to mitigate risk. Designed as a practical resource, the book offers a guide for putting in place effective controls in order to provide reliable, timely, and useful financial and managerial data that is critical for supporting operating, budgeting, and policy decisions.

The author--a noted expert on the topic--takes a toolkit approach that includes detailed information on controls and risks outlined for key business processes. The book offers background information on the history of internal controls, recommendations for developing a series of risk-based controls, proven ideas for implementing internal controls, and includes the metrics to use when measuring results. The author explores how to establish the three most critical corporate controls: segregation of duties; systems access; and delegation of authority. Filled with best practices for each step in the internal control process, the book examines the COSO model at the heart of many internal controls systems and Sarbanes-Oxley efforts in the corporate environment.

In addition, the book offers direction for being in compliance with SOX 404 initiatives, guidance for companies undergoing merger and acquisition projects, and suggestions for implementing Control Self-Assessment (CSA), Continuous Controls Monitoring (CCM), and other self-audit initiatives.

Internal Controls Toolkit is the hands-on resource for any organization that wants to achieve operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations, and policies.

About the Author

CHRISTINE H. DOXEY, CAPP, CCSA, CICA, CPC, is president of Doxey, Inc. Prior to forming her company, she served in executive positions with Verizon Business (formerly MCI), Hewlett Packard, Compaq, and Digital Equipment. Doxy is on the Advisory Boards of The Exchange Summit and The Institute of Internal Controls. She has authored several books and speaks at conferences globally on financial process best practices.