RE: Internal Audit Survey/Feedback Tools

[Kevin J. McCarthy]

Some of the issues raised here are part of the reason my company, as an independent consulting firm that specializes in audit controls, has specifically begun marketing a program designed to assist companies in complying with Sarbanes-Oxley.  As an independent auditor we can take an unbiased look at the system of controls established, identify any weakness, and help to recommend and implement change.  We are also in the process of seeking information from the underwriters of D&O (Director’s and Officers) insurance, to determine if they would be willing to offer a premium discount to companies that have their internal audit controls reviewed by a totally independent consultant.  As more information becomes available I will post here.   -----Original Message----- From: Jessica Wilhoite [mailto:[EMAIL PROTECTED]] Sent: Thursday, October 10, 2002 1:15 PM To: [EMAIL PROTECTED]; pgoldmann Subject: Re: Internal Audit Survey/Feedback Tools   That's a very good question.  I'm sure that almost every auditor wants to make sure they cover their a__.  I think the culture of auditing has changed and communication is the most important tool to use.  The clients should be asked that question regardless of what kind of institution you work for.  It creates accountability.  If there is fraud in the client's books and records, and the client agreed that the reviewing and reporting was properly completed and communicated, the auditor shouldn't worry about such accusations.  Unfortunately it this isn't a true and just world so the decision is up to the individual auditor and their assessment of what kind of risk they want to take by asking that question.     I guess I really didn't answer the question, but those are my thoughts.   Jessica Wilhoite First Columbia Bank & Trust Co. Bloomsburg, PA  17815  ----- Original Message ----- From: pgoldmann To: [EMAIL PROTECTED] Sent: Thursday, October 10, 2002 12:09 PM Subject: Fwd: Internal Audit Survey/Feedback Tools   Michael, Lance and others: In reading your posts, I wondered if the client performance evaluations you're referring to could have an anti-fraud function as well. In other words, could clients be asked if they feel the auditor's reporting and verbal communication convey the message that they have performed their duties with especially close attention to possible fraud in the client's books and records? It seems to me that in today's climate, auditors would want to be covered against accusations from clients who down the road get investigated for fraud that "It was the auditor's fault". Any thoughts? Status: U From: "Morrow, Michael" <[EMAIL PROTECTED]> To: "'[EMAIL PROTECTED]'" <[EMAIL PROTECTED]> Subject: Internal Audit Survey/Feedback Tools Date: Thu, 10 Oct 2002 09:55:15 -0400 Sender: [EMAIL PROTECTED] I am looking for organizations that have been successful in implementing a tool to have clients objectively evaluate internal audits. I want to include a "soup to nuts" approach including how the engagement was handled, the effectiveness of the auditor(s) assigned to it, the actual added-value and impacts made as a result of the work, etc. My objectives are to use this as a tool for evaluating individual auditor performance as well as benching successes/improvement areas for each engagement. I appreciate your willingness to share your successes on this issue. Thanks! G. Michael Morrow, CISA Director, Audit Services Carolinas HealthCare System 1316 East Morehead Street Charlotte, NC 28204 (704) 355-6651 office (704) 355-8011 fax *********************************************************************** This electronic message may contain information that is confidential and/or legally privileged. It is intended only for the use of the individual(s) and entity named as recipients in the message. If you are not an intended recipient of this message, please notify the sender immediately and delete the material from any computer. Do not deliver, distribute or copy this message, and do not disclose its contents or take any action in reliance on the information it contains. Thank you. Peter Goldmann Editor White-Collar Crime Fighter 213 Ramapoo Rd. Ridgefield CT 06877 203-431-7657 203-431-6054 (fax) http://www.wccfighter.com