#internalcontrols

Citizen Portal News Iowa

@citizenptnewsia.bsky.social

5 days ago

Auditor issues modified opinion, flags segregation-of-duties and enrollment variances TrustPoint auditor Nick Stanley reported a modified opinion on the district’s financial statements, citing a segregation‑of‑duties internal control deficiency and certified enrollment variances; he also presented revenue/expenditure totals and recommended policy reviews and additional oversight.

An audit reveals concerning internal control deficiencies and unexpected enrollment variances in the Ogden Community School District's financial statements—what does this mean for the future?

Click to read more!

#IA #CitizenPortal #IowaSchools #EnrollmentAccuracy #InternalControls

Citizen Portal News Kentucky

@citizenptnewsky.bsky.social

3 weeks ago

Fort Thomas council to consider $35,000 forensic audit after $320,000 write-off review Council discussed hiring Dean Dorton to perform a forensic review of recent financial issues related to the '1 Highland' project and other controls; staff requested a $35,000 budget amendment to fund a three-year lookback and internal-control testing.

Fort Thomas is set to embark on a $35,000 forensic audit after uncovering a staggering $320,000 write-off—what will the investigation reveal?

Click to read more!

#FortThomasCampbellCounty #KY #FortThomasFinance #CitizenPortal #FinancialTransparency #InternalControls #AuditAccountability

@gkraju.bsky.social

1 month ago

Strong internal controls safeguard organizational integrity.
Accountability is central to NexaraSoft’s culture.
Organic Growth | Honest Storytelling | Real Connections
#NexaraSoft #InternalControls #CorporateIntegrity #OrganicGrowth
#www.nexarasoft.in

AccountingCPD

@accountingcpd.bsky.social

2 months ago

The Briefcase #25: How the Enron Scandal Changed Accounting Forever Enron’s fall shook accounting to its core. From scandal to SOX, find out how one company rewrote the rules for everyone in finance.

This week in The Briefcase, we look at the scandal that changed accounting forever - Enron. From mark-to-market mayhem to the rise of SOX, it’s a story of what happens when no one asks the obvious questions.

accountingcpd.com/the-briefcas...

#Accounting #Enron #InternalControls #SOX #Audit

Citizen Portal News Michigan

@citizenptnewsmi.bsky.social

2 months ago

Auditors give Flint an unmodified opinion but flag material weaknesses; ESSER spending reviewed Stevenson & Company presented an unmodified financial opinion for the district but reported three material weaknesses (material proposed audit entries, bank reconciliation delays and duplicate payments) and two single‑audit findings related to federal grants; auditors also confirmed full spending of ESSER III funds.

Flint School District received an unmodified audit opinion, but auditors flagged critical weaknesses that could impact future finances and grant management.

Read the full story

#MI #GrantManagement #FiscalTransparency #CitizenPortal #InternalControls

@voiceofcompliance.bsky.social

3 months ago

💡 Wrap up the week with #ComplianceTipoftheDay: 

Ethical AI-powered internal controls every compliance pro should know.

🎧 Listen now: https://bit.ly/4iUG7Yb #AICompliance #InternalControls #RiskManagement

@voiceofcompliance.bsky.social

3 months ago

💡 AI is enhancing internal controls in compliance. 

Learn how AI-powered controls improve monitoring, reduce risk, and strengthen programs. 

Listen now: https://bit.ly/4rRqXHm #AICompliance #InternalControls #RiskManagement

@voiceofcompliance.bsky.social

3 months ago

Today’s #ComplianceTipoftheDay covers how to strengthen internal controls after monitoring—an essential step in any effective compliance program.

👉 Listen now: https://bit.ly/48GULgT #InternalControls #ComplianceProgram #Ethics

@voiceofcompliance.bsky.social

3 months ago

Internal controls are key to maintaining compliance and mitigating risk. 🛡️

Listen to this week’s #ComplianceTipoftheDay for practical insights. 

Click the link: https://bit.ly/4priXeo #InternalControls #ComplianceTips #RiskManagement

@voiceofcompliance.bsky.social

3 months ago

Internal controls fail for predictable reasons. 

This week’s #ComplianceTipoftheDay breaks down the key causes and how to prevent them. Tune in and strengthen your compliance program.

Listen here: https://bit.ly/49XieNk #InternalControls #RiskManagement #ComplianceTips

Tapos Kumar | US Finance and Crypto expert

@financeideas.bsky.social

4 months ago

Most people stress about “going live” with an audit, but they ignore the shadow audit that runs ahead—finding problems, flagging gaps, setting the stage. Know the hidden audit before you step into the ring.
👉 financeideas.org/shadow-audit...

#internalcontrols #auditprep #riskmanagement

Citizen Portal News Washington

@citizenptnewswa.bsky.social

4 months ago

Franklin County adopts financial policies, sets multi-million-dollar reserve target Following a public hearing, the Franklin County Board of Commissioners approved Resolution 2025-330 adopting comprehensive financial policies intended to strengthen internal controls, grant management, reporting and to create a reserve fund. County Administrator Danzel said the combined reserve target is "right around $11,000,000."

Franklin County just took a major step towards financial stability by adopting new policies aimed at strengthening internal controls and establishing a $11 million reserve fund!

Learn more here!

#FranklinCounty #WA #CitizenPortal #FinancialTransparency #InternalControls #SustainableBudgeting

Altum Strategy Group

@altumstrategy.bsky.social

4 months ago

Case Study: Remediating Audit Findings for an Ad and Marketing Technology Company - Altum Situation A U.S.-based advertising and marketing technology company faced significant challenges in remediating audit findings related to their internal control environment. The company received multiple material weaknesses and deficiencies in its prior and current annual audit and needed to address the root causes of these control failures, rationalize existing controls, and implement new controls to close gaps identified by their external audit firm. The control issues affected most business processes, including entity-level controls, and extended across financial and revenue flows. In addition, IT General Controls issues were identified across homegrown and SaaS applications responsible for tracking, accounting, and reporting revenue.  The existing control environment relied heavily on manual processes, which impacted the realization of value for accounting and reporting software solutions. Solution Altum’s practical and flexible approach to addressing the audit findings focused on prioritizing the issues that needed to be remediated first and then planning and executing deep discovery sessions for each related process and control that were found to be insufficient.   In doing so, we were able to uncover the root cause of each issue and develop fixes that were both efficient and achievable. To address the audit findings, Altum led an initiative to rationalize controls and develop […]

We're counting down the top 15 articles of the year!

#10: “Case Study: Remediating Audit Findings for an Ad and Marketing Technology Company"

altumstrategy.com/portfolio-it...

#AuditRemediation #InternalControls #AdTech #MarTech #CaseStudy #RiskManagement #ITGC #Compliance #AltumWave

@voiceofcompliance.bsky.social

5 months ago

Stay ahead of compliance risks with today’s #ComplianceTipoftheDay! 🎯 Learn how to monitor & strengthen your internal controls with practical, actionable insights.
 
🎧 Listen now: https://bit.ly/4qa3HTY #InternalControls #CorporateCompliance #RiskManagement

@voiceofcompliance.bsky.social

5 months ago

Today’s #ComplianceTipoftheDay explores how revenue recognition ties into internal controls and compliance success. Strengthen your program with this essential insight. 

🎧 Listen now: https://bit.ly/47sxr6j #RiskManagement #InternalControls #Compliance

@voiceofcompliance.bsky.social

6 months ago

Internal control overrides aren’t always bad—but they may signal weak controls. 🎙️ Tune in to today’s #ComplianceTipoftheDay for insights you can use.

👉 https://bit.ly/47vP0Uz #Compliance #RiskManagement #InternalControls

GrayCat PI

@handle.invalid

6 months ago

Embezzlement in Mexico can go undetected for years.
Learn how to identify early warning signs before it’s too late.

graycatpi.com/financial-cr...

#CorporateFraud #InternalControls #MexicoBusiness

J & O Tax Accounting

@jandotaxaccounting.bsky.social

6 months ago

Don't wait for fraud to strike. Put internal controls in place now. A monthly review of your financials will help you catch quiet problems before they turn into a disaster. Follow for tips to grow your business with confidence.
#InternalControls #BusinessSuccess #Bookkeeping #Accounting

Citizen Portal News Wisconsin

@citizenptnewswi.bsky.social

7 months ago

Audit Reveals Limited Internal Controls in Small Municipal Accounting Practices Auditors note weak internal controls due to small staff size in municipal accounting.

Ashland County is taking proactive steps to strengthen its financial integrity after an audit revealed challenges in its accounting practices.

Learn more here

#AshlandCounty #WI #CitizenPortal #AshlandCountyFinance #PublicAccountability #FinancialTransparency #InternalControls

Hyperion Business Solutions

@hyperionbusinesssolutions.com

8 months ago

Think it can’t happen to you? Think again.

Ready to protect what you’ve built?
🌐 hyperionbusinesssolutions.com

#HyperionBusinessSolutions #FraudPrevention #BusinessRisk #InternalControls #SmartBusiness #TrustAndTransparency

@voiceofcompliance.bsky.social

8 months ago

Start your day with a #ComplianceTipoftheDay! 🚨 Today’s episode breaks down design-centric controls—the unsung heroes of effective internal controls. Tune in now!

🎧 https://bit.ly/4nDzUlD #InternalControls #RegulatoryCompliance #RiskManagement

@voiceofcompliance.bsky.social

8 months ago

Not all internal control overrides are bad, but they are a red flag. Tune in to today's #ComplianceTipoftheDay podcast for why it matters.

🎧 https://bit.ly/46B1Dgu #ComplianceInsights #InternalControls #AuditReady

@voiceofcompliance.bsky.social

8 months ago

How do you identify and report internal control deficiencies before they become bigger issues? Tune into today’s #ComplianceTipoftheDay for actionable insights!

🎧 https://bit.ly/40yTRjq #InternalControls #ComplianceTips #RiskManagement

@voiceofcompliance.bsky.social

9 months ago

Unlock the power of COSO 2013! 🧩 Today’s #ComplianceTipoftheDay breaks down the Internal Controls Framework every compliance pro should master.

Tune in now 🎧 https://bit.ly/4mUSTrf #InternalControls #ComplianceLeadership

@voiceofcompliance.bsky.social

9 months ago

🚨 On today's #ComplianceTipoftheDay, Tom Fox breaks down how mapping your internal controls can strengthen your gap analysis. A must-listen for compliance pros!

🎧 Listen now: https://bit.ly/3Zj2Qon #RiskManagement #ComplianceTips #InternalControls

@voiceofcompliance.bsky.social

9 months ago

🔍 Are your internal controls meeting business needs? In today’s #ComplianceTipoftheDay, Tom Fox breaks down gap analysis and why it matters. Tune in for practical insights that drive performance.

🎧 https://bit.ly/4kP4nKW #ComplianceTips #RiskManagement #InternalControls

@voiceofcompliance.bsky.social

9 months ago

Looking to strengthen your compliance program? 🎯 Today’s #ComplianceTipoftheDay with Tom Fox dives into implementing an effective internal controls regime.

Tune in now: https://bit.ly/43Ls7ZA #ComplianceLeadership #RiskManagement #InternalControls

@voiceofcompliance.bsky.social

9 months ago

Are you looking to elevate your compliance standards? In today’s #ComplianceTipoftheDay, Tom Fox shares how a risk assessment can drive smarter internal controls. Don’t miss it! 🎧 https://bit.ly/3HmksJQ

#RiskManagement #ComplianceLeadership #InternalControls

@voiceofcompliance.bsky.social

9 months ago

What exactly are internal controls—and why do they matter? 🤔 Today on the #ComplianceTipoftheDay, Tom Fox breaks down multiple definitions and their real-world impact.

🎧 Listen now: https://bit.ly/4ke7oox

📘 More info: https://bit.ly/433bKre

#ComplianceTips #RiskManagement #InternalControls

Altum Strategy Group

@altumstrategy.bsky.social

10 months ago

Designing Controls at Scale: A Risk Framework for High-Growth Companies - Altum Building Internal Controls That Support Agility Without Sacrificing Assurance In the dynamic landscape of high-growth companies, designing internal controls that are both scalable and effective is crucial. Traditional internal controls often rely on manual processes, which can hinder agility and innovation. However, by leveraging systematic configurations, businesses can automate key control activities and embed them into their business processes, ensuring both scalability and assurance. Recognizing Environmental Conditions That Necessitate Robust Controls High-growth companies often encounter distinct environmental conditions that stimulate the initiation of their control journey or the implementation of more robust control measures: Rapid Expansion: Companies experiencing rapid growth may find their existing controls insufficient to manage increased complexity and volume. For instance, a tech startup scaling its operations globally might need to enhance its financial controls to handle diverse regulatory requirements and prevent fraud. Similarly, a company aiming for an IPO may need to start implementing more robust controls to meet regulatory standards. Regulatory Changes: Changes in regulations can prompt the need for additional controls. For example, a pharmaceutical company expanding into new markets might need to implement stricter compliance controls to adhere to varying international regulations. Market Volatility: Economic downturns or market volatility can expose vulnerabilities in […]

Designing scalable internal controls for high-growth companies? 🚀 Check out our framework for balancing agility and risk management! 🌊 #RiskManagement #InternalControls #HighGrowth #Compliance #AltumWave

httpaltumstrategy.com/portfolio-item/designing-cont...