12 Principles of the Internal Audit Framework

http://www.journalofaccountancy.com/News/201410699.htm This is proposed guidance, along with a new mission statement. The 12 principles are seen to enhance internal audit effectiveness. Comments are due by Nov 3, 2014.

Preventing vendor related fraud

http://cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/CorpFin/stealing-in-plain-sight.jsp The prevention and detection of vendor fraud are addressed in this article.

Stakeholders have different expectations

http://www.complianceweek.com/blogs/accounting-auditing-update/study-puts-internal-audit-focus-on-managing-expectations This summary and reference to the PWC report on stakeholder expectations for internal audits

PCAOB Disciplinary Actions against PWC audit partner

http://accounting.smartpros.com/x76068.xml Discussion and link to the disciplinary actions related to an improper revenue recognition audit failure

GAO identified internal control issues with IRS

http://www.accountingtoday.com/news/irs_watch/gao-sees-need-for-improvement-in-irss-internal-controls-71213-1.html The GAO report is located http://www.gao.gov/assets/670/664599.pdf

Fraud fighting steps from Crowe Horwath

http://www.cgma.org/Magazine/News/Pages/201410164.aspx?TestCookiesEnabled=redirect Keeping the balance between a warm attitude with clients and not getting "too comfortable" has never been easy. See the few steps outlined in this report.

Auditor reporting model changes

The Center for Audit Quality has done field testing of 51 companies related to the audit "critical matters" change. This article discusses the findings. http://www.journalofaccountancy.com/News/201410377.htm