Just as Sarbanes-Oxley compliance reshaped corporate governance for public companies, QC 1000 is designed to ensure that ...

Public accounting firms love to land new audit clients and keep their current audit clients happy. After all, acquiring new business and retaining it is the key to growth. But revenue growth can cause ...

As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...