Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Posts Tagged ‘internal control

“Once Upon Internal Control” fable now available in multiple formats

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I just published my short book, “Once Upon Internal Control” at Smashwords, which means it is now available in several formats:

  • Epub – readable on your iPad, Nook, Sony Reader and lots of other e-reading devices
  • Kindle
  • PDF
  • RTF

You can preview 30% of the book for free.

What’s this book about? Read the rest of this entry »

Written by Jim Ulvog

October 24, 2013, 7:40 am at 7:40 am

Internal control, 5th century version

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Here is an illustration of internal control, a specific mention of “checks and balance”, and the goal of internal control from the 5th century:

From the Fourth Ecumenical Council in 449 A.D.: “As we have learned, in some churches, the bishops administer the material goods of the church without a treasurer; it has seemed right and proper that every church with a bishop should also have a treasurer taken from the clergy who will administer the church’s goods with advice of his own bishop. In this way the administration of the church will not be without checks and balances, the goods of the church will not be dissipated, and the priesthood will be free from all suspicion.”

The quote was listed at LinkedIn by a former colleague, Jennifer Perez, CPA.

That’s too good of an explanation of internal control to let pass without quoting it and making some comments. 

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Written by Jim Ulvog

June 3, 2013, 9:23 am at 9:23 am

Posted in Accounting

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Tragedy of fraud – another case study – 2

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Previous post started a discussion of the consequences of Amy Wilson’s embezzlement story told here. These two posts are another case study of the tragedy of fraud.

I’ve discussed the consequences of fraud extensively on my blog. Even compiled those posts into a book, available at Amazon.

Let’s wrap up a review of the consequences earned by Mrs. Wilson and the impact on innocent people she loves.  Here are more things visible in her article:

I’m guessing this covers sentences a lot of ground: Read the rest of this entry »

Written by Jim Ulvog

March 20, 2013, 8:34 am at 8:34 am

Trust is not an internal control

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It is just a feeling.

That is Amy Wilson’s explanation as she describes her journey through embezzlement into recovery as told in this earlier post. Thanks to Mrs. Wilson for granting me permission to reprint her article.

Her article is very good. It is so well constructed that we can analyze it in detail. I’ll have several posts to draw out my reactions to her article.

Trust is not an internal control

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Written by Jim Ulvog

March 13, 2013, 10:53 am at 10:53 am