Compliance with the System and Organization Controls for Service Organizations 2 (SOC 2) isn’t mandatory. No industry requires a SOC 2 report, nor is SOC 2 compliance required by law. That said,... Read More
Compliance
Internal Controls to Prevent Financial Statement Fraud
“Cooking the books” is a phrase that refers to falsifying financial statements so one can commit accounting fraud. Perhaps the landmark example of cooking books was Enron, the U.S. energy... Read More
How to Implement Effective Compliance Testing
Compliance testing, also known as conformance testing, is a periodic, independent, and objective assessment of compliance-related processes or controls. As the name implies, you’re testing those controls to see how... Read More
Best Practices for Payroll Internal Controls
Payroll is a crucial business process in any organization because it assures that employees are compensated in full and in a timely manner. Employees assume they will receive their paychecks... Read More
Third-Party Due Diligence Best Practices
No matter your industry, business relationships with third-party vendors are the most significant risk to your information landscape. Increasingly, companies are adding more Software-as-a-Service (SaaS) vendors to streamline business processes.... Read More