Internal auditors

Contents

• Introduction Introduction

  • Increasing financial statement integrity

    59s
• 1. The Types of Problems that Can Occur in Financial Statements 1. The Types of Problems that Can Occur in Financial Statements

  • Classic cases: WorldCom

    4m 28s
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    Errors in the reporting process

    4m 3s
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    Disagreements in judgment

    4m 38s
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    Fraud: Theft and fraudulent financial reporting

    4m 28s
• 2. Safeguards to Minimize Financial Reporting Problems 2. Safeguards to Minimize Financial Reporting Problems

  • The fraud triangle

    3m 49s
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    The control environment

    3m 31s
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    Segregation of duties and physical control

    4m 15s
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    Proper procedures and documents plus independent checks

    4m 18s
• 3. The Motivations Behind Earnings Management 3. The Motivations Behind Earnings Management

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    Classic cases: Enron

    4m 57s
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    Why do companies manage earnings?

    4m 30s
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    The earnings management continuum

    4m 48s
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    Is earnings management ethical?

    4m 31s
• 4. Sarbanes Oxley 4. Sarbanes Oxley

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    Accounting credibility crisis in 2002

    4m 35s
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    Public Company Accounting Oversight Board (PCAOB)

    3m 5s
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    Constraints on auditors

    4m 33s
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    Constraints on management

    4m 28s
• 5. The Role of Auditors, Both Internal and External 5. The Role of Auditors, Both Internal and External

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    Classic cases: Arthur Andersen

    4m 39s
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    Internal auditors

    4m 22s
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    External auditors

    4m 42s
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    What do auditors do?

    4m 3s
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    Are external auditors really independent?

    4m 4s
• 6. The Role of the Securities and Exchange Commission (SEC) 6. The Role of the Securities and Exchange Commission (SEC)

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    Classic cases: Stock market crash of 1929

    2m 10s
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    What is the job of the SEC?

    3m 8s
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    Common SEC filings: Registration statement, 10-K, and 10-Q

    4m 35s
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    Common SEC punishments

    2m 58s
• Conclusion Conclusion

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    Internal controls and management credibility

    1m 36s