Brink's Modern Internal Auditing : A Common Body of Knowledge.

Intro -- Brink's Modern Internal Auditing -- Contents -- Preface -- PART ONE: FOUNDATIONS OF MODERN INTERNAL AUDITING -- Chapter 1: Significance of Internal Auditing in Enterprises Today: An Update -- 1.1 Internal Auditing History and Background -- 1.2 Mission of Internal Auditing -- 1.3 Organization of this Book -- Note -- Chapter 2: An Internal Audit Common Body of Knowledge -- 2.1 What Is a CBOK? Experiences from Other Professions -- 2.2 What Does an Internal Auditor Need to Know? -- 2.3 An Internal Auditing CBOK -- CBOK Requirements: Importance of Internal Controls -- CBOK Requirements: Planning and Performing Internal Audits -- CBOK Requirements: Organizing and Managing Internal Audit Activities -- CBOK Requirements: Impact of Information Technology on Internal Auditing -- CBOK Requirements: Internal Audit and Enterprise Governance -- CBOK Requirements: Internal Auditor Professional Certifications -- CBOK Requirements: Internal Auditing Professional Convergence -- 2.4 Another Attempt: The IIA Research Foundation's CBOK -- 2.5 Essential Internal Audit Knowledge Areas -- Notes -- PART TWO: IMPORTANCE OF INTERNAL CONTROLS -- Chapter 3: The COSO Internal Control Framework -- 3.1 Understanding Internal Controls -- 3.2 Revised COSO Framework Business and Operating Environment Changes -- 3.3 The Revised COSO Internal Control Framework -- 3.4 COSO Internal Control Principles -- 3.5 COSO Internal Control Components: The Control Environment -- 3.6 COSO Internal Control Components: Risk Assessment -- Risk Identification and Analysis -- Risk Response Strategies -- 3.7 COSO Internal Control Components: Internal Control Activities -- Business Process Control Activities -- Types of Transaction Control Activities -- 3.8 COSO Internal Control Components: Information and Communication -- Importance of Using Relevant Information.

Importance of Internal Communications -- 3.9 COSO Internal Control Components: Monitoring Activities -- 3.10 The COSO Framework's Other Dimensions -- Chapter 4: The 17 COSO Internal Control Principles -- 4.1 COSO Internal Control Framework Principles -- 4.2 Control Environment Principle 1: Integrity and Ethical Values -- Affirming Adherence to the Code of Ethics -- Code Violations and Corrective Actions -- 4.3 Control Environment Principle 2: Role of the Board of Directors -- 4.4 Control Environment Principle 3: Authority and Responsibility Needs -- 4.5 Control Environment Principle 4: Commitment to a Competent Workforce -- 4.6 Control Environment Principle 5: Holding People Accountable -- 4.7 Risk Assessment Principle 6: Specifying Appropriate Objectives -- 4.8 Risk Assessment Principle 7: Identifying and Analyzing Risks -- 4.9 Risk Assessment Principle 8: Evaluating Fraud Risks -- 4.10 Risk Assessment Principle 9: Identifying Changes Affecting Internal Controls -- 4.11 Control Activities Principle 10: Selecting Control Activities That Mitigate Risks -- 4.12 Control Activities Principle 11: Selecting and Developing Technology Controls -- 4.13 Control Activities Principle 12: Policies and Procedures -- 4.14 Information and Communication Principle 13: Using Relevant, Quality Information -- Information from Relevant Sources -- Processing Data through Information Systems -- 4.15 Information and Communication Principle 14: Internal Communications -- Internal Control Communication -- Internal Communication beyond Normal Channels -- Methods of Communication -- 4.16 Information and Communication Principle 15: External Communications -- 4.17 Monitoring Principle 16: Internal Control Evaluations -- 4.18 Monitoring Principle 17: Communicating Internal Control Deficiencies -- Note -- Chapter 5: Sarbanes-Oxley (SOx) and Beyond.

5.1 Key Sarbanes-Oxley Act (SOx) Elements -- Title I: Public Company Accounting Oversight Board -- Title II: Auditor Independence -- Title III: Corporate Responsibility -- Title IV: Enhanced Financial Disclosures -- Title V: Analyst Conflicts of Interest -- Titles VI through X: Fraud Accountability and White‐Collar Crime -- Title XI: Corporate Fraud Accountability -- 5.2 Performing Section 404 Reviews under AS5 -- 5.3 AS5 Rules and Internal Audit -- 5.4 Impact of the Sarbanes-Oxley Act -- Notes -- Chapter 6: COBIT and Other ISACA Guidance -- 6.1 Introduction to COBIT -- 6.2 COBIT Framework -- 6.3 Principle 1: Meeting Stakeholder Needs -- 6.4 Principle 2: Covering the Enterprise End to End -- 6.5 Principle 3: A Single Integrated Framework -- 6.6 Principle 4: Enabling a Holistic Approach -- 6.7 Principle 5: Separating Governance from Management -- 6.8 Using COBIT to Assess Internal Controls -- 6.9 Mapping COBIT to COSO Internal Controls -- Notes -- Chapter 7: Enterprise Risk Management: COSO ERM -- 7.1 Risk Management Fundamentals -- Risk Identification -- Key Risk Assessments -- Probability and Uncertainty -- Risk Interdependencies -- Risk Ranking -- Quantitative Risk Analysis: Expected Values and Response Planning -- Quantitative Risk Analysis: Risk Monitoring -- 7.2 COSO ERM: Enterprise Risk Management -- 7.3 COSO ERM Key Elements -- COSO ERM: The Internal Environment Component -- COSO ERM Objective Setting -- COSO ERM Event Identification -- COSO ERM Risk Assessment -- COSO ERM Risk Response Elements -- COSO ERM Control Activities -- COSO ERM Information and Communication -- COSO ERM Monitoring -- 7.4 Other Dimensions of COSO ERM: Enterprise Risk Objectives -- Operations Risk Management Objectives -- Reporting Risk Management Objectives -- Legal and Regulatory Compliance Risk Objectives -- 7.5 Entity-Level Risks.

Risks Encompassing the Entire Organization -- 7.6 Putting It All Together: Auditing Risk and COSO ERM Processes -- Notes -- PART THREE: PLANNING AND PERFORMING INTERNAL AUDITS -- Chapter 8: Performing Effective Internal Audits -- 8.1 Initiating and Launching an Internal Audit -- 8.2 Organizing and Planning Internal Audits -- 8.3 Internal Audit Preparatory Activities -- Determine the Audit Objectives -- Audit Schedule and Time Estimates -- Internal Audit Preliminary Surveys -- 8.4 Starting the Internal Audit -- Internal Audit Field Surveys -- Documenting the Internal Audit Field Survey -- Field Survey Auditor Conclusions -- 8.5 Developing and Preparing Audit Programs -- Audit Program Formats and Their Preparation -- Types of Audit Evidence -- 8.6 Performing the Internal Audit -- Internal Audit Fieldwork Initial Procedures -- Audit Fieldwork Technical Assistance -- Audit Management Fieldwork Monitoring -- Potential Audit Findings -- Audit Program and Schedule Modifications -- Reporting Preliminary Audit Findings to Management -- 8.7 Wrapping Up the Field Engagement Internal Audit -- 8.8 Performing an Individual Internal Audit -- Chapter 9: Standards for the Professional Practice of Internal Auditing -- 9.1 What Is the IPPF? -- 9.2 The Internal Auditing Professional Practice Standards: A Key IPPF Component -- Background of the IIA Standards -- 9.3 Content of the IIA Standards -- Internal Audit Attribute Standards -- Internal Audit Performance Standards -- 9.4 Codes of Ethics: The IIA and ISACA -- 9.5 Internal Audit Principles -- 9.6 IPPF Future Directions -- Notes -- Chapter 10: Testing, Assessing, and Evaluating Audit Evidence -- 10.1 Gathering Appropriate Audit Evidence -- 10.2 Audit Assessment and Evaluation Techniques -- 10.3 Internal Audit Judgmental Sampling -- 10.4 Statistical Audit Sampling: An Introduction.

10.5 Developing a Statistical Sampling Plan -- Random Number Audit Sample Selection -- Interval Selection Audit Sample Selection -- Stratified Selection Audit Sample Selection -- Cluster Selection Audit Sample Selection -- 10.6 Audit Sampling Approaches -- Attributes Sampling Procedures -- Performing an Attributes Sampling Test -- 10.7 Attributes Sampling Audit Example -- 10.8 Attributes Sampling Advantages and Limitations -- 10.9 Monetary Unit Sampling -- Selecting the Monetary Unit Sample: An Example -- Performing the Monetary Unit Sampling Test -- 10.10 Other Audit Sampling Techniques -- Multistage Sampling -- Replicated Sampling -- Bayesian Sampling -- 10.11 Making Efficient and Effective Use of Audit Sampling -- Notes -- Chapter 11: Continuous Auditing and Computer-Assisted Audit Techniques -- 11.1 Implementing Continuous Assurance Auditing -- What Is a Continuous Assurance Auditing and Monitoring System? -- Resources for Implementing a CAA -- 11.2 ACL, NetSuite, BusinessObjects, and Other Continuous Assurance Systems -- 11.3 Benefi ts of CAA -- 11.4 Computer-Assisted Audit Tools and Techniques -- 11.5 Determining the Need for CAATTS -- 11.6 Steps to Building Effective CAATTS -- 11.7 Importance of Using CAATTS for Audit Evidence Gathering -- 11.8 XBRL: The Internet-Based Extensible Marking Language -- XBRL Defined -- Implementing XBRL -- Notes -- Chapter 12: Control Self-Assessments and Internal Audit Benchmarking -- 12.1 Importance of Control Self-Assessments -- 12.2 CSA Model -- 12.3 Launching the CSA Process -- Performing the Facilitated CSA Review -- Performing the Questionnaire‐Based CSA Review -- Performing the Management‐Produced Analysis CSA Review -- 12.4 Evaluating CSA Results -- 12.5 Benchmarking and Internal Audit -- Implementing Benchmarking to Improve Processes -- Benchmarking and the IIA's GAIN Initiative.

12.6 Better Understanding Internal Audit Activities.

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