Audit Documentation Quotes

Social tools leave a digital audit trail, documenting our learning journey—often an unfolding story—and leaving a path for others to follow.

SEC audits consisted primarily of confirming that a checklist of documents existed, not necessarily that these documents were accurate, not even that they reflected real trades—just that you had the proper papers in your files.

Laws continue to be enacted, and the regulatory environment has become more complex due to unacceptable conduct remediation. Consequently, entities continue to be compelled to demonstrate compliance with legal mandates through documented assurance assessments.

We have documented in this book that: • Cost overruns of 50 per cent to 100 per cent in real terms are common in megaprojects; overruns above 100 per cent are not uncommon; • Demand forecasts that are wrong by 20 per cent to 70 per cent compared with actual developments are common; • The extent and magnitude of actual environmental impacts of projects are often very different from forecast impacts. Post-auditing is neglected;

For example, in 2009 the British Government published, online, 700,000 individual documents that related to the expenses of British MPs. In response, the Guardian newspaper built an online platform to host these documents, and asked readers collectively to sift through them, a task too large for one person alone, and flag those that might be of interest, adding analysis if need be. A community of over 20,000 individuals engaged in what was, in effect, a public audit.

A large literature going back several decades has documented noise in professional judgment. Because we were aware of this literature, the results of the insurance company’s noise audit did not surprise us. What did surprise us, however, was the reaction of the executives to whom we reported our findings: no one at the company had expected anything like the amount of noise we had observed. No one questioned the validity of the audit, and no one claimed that the observed amount of noise was acceptable. Yet the problem of noise—and its large cost—seemed like a new one for the organization. Noise was like a leak in the basement. It was tolerated not because it was thought acceptable but because it had remained unnoticed.

Factom, an Austin, Texas, company that created an audit trail of financial documents’ changes, creating a model that, if it’s widely adopted, will eventually replace the whole industry of quarterly and annual accounting and auditing with something that happens in real time. Another player in this space is called, appropriately, Stampery. Stampery was founded by Luis Iván Cuende, a remarkable young Spanish entrepreneur who founded his first major software project at the age of twelve and at the age of twenty-one had amassed a reputation as one of the world’s most innovative hackers and developers. Stampery takes hashes of documents and records the trail of changes to them to the blockchain, providing valuable proof of status for companies involved in negotiations or litigation.

Take a look at your calendar and write down your role in meetings. This goes for explicit roles, like owning a meeting’s agenda, and also for more nuanced roles, like being the first person to champion others’ ideas, or the person who is diplomatic enough to raise difficult concerns. Take a second pass on your calendar for non-meeting stuff, like interviewing and closing candidates. Look back over the past six months for recurring processes, like roadmap planning, performance calibrations, or head count decisions, and document your role17 in each of those processes. For each of the individuals you support, in which areas are your skills and actions most complementary to theirs? How do you help them? What do they rely on you for? Maybe it’s authorization, advice navigating the organization, or experience in the technical domain. Audit inbound chats and emails for requests and questions coming your way. If you keep a to-do list, look at the categories of the work you’ve completed over the past six months, as well as the stuff you’ve been wanting to do but keep putting off. Think through the external relationships that have been important for you in your current role. What kinds of folks have been important, and who are the strategic partners that someone needs to know?

After January 6, 2021, rumors began spreading across the internet that the Trump legal team was preparing to release documents, pictures, and eyewitness evidence of voter fraud directly to the American people after weeks of being rejected by state legislators, state courts, and the Supreme Court. Immediately, all major social media platforms banned Trump and his entire team, preventing them from releasing any possible documentation directly to the American people. The House and Senate both rejected the idea of conducting a ten-day audit on the vote in the controversial battle-ground states, leaving an estimated 75 million people feeling fed-up that their own elected legislators were themselves corrupt and co-conspirators in a coverup.

Identify Your Strengths With Strengths Finder 2.0 One tool that can help you remember your achievements is the ‘Strengths Finder’ "assessment. The father of Strengths Psychology, Donald O. Clifton, Ph.D, along with Tom Rath and a team of scientists at The Gallup Organization, created StrengthsFinder. You can take this assessment by purchasing the Strengths Finder 2.0 book. The value of SF 2.0 is that it helps you understand your unique strengths. Once you have this knowledge, you can review past activities and understand what these strengths enabled you to do. Here’s what I mean, in the paragraphs below, I’ve listed some of the strengths identified by my Strengths Finder assessment and accomplishments where these strengths were used. “You can see repercussions more clearly than others can.” In a prior role, I witnessed products being implemented in the sales system at breakneck speed. While quick implementation seemed good, I knew speed increased the likelihood of revenue impacting errors. I conducted an audit and uncovered a misconfigured product. While the customer had paid for the product, the revenue had never been recognized. As a result of my work, we were able to add another $7.2 million that went straight to the bottom line. “You automatically pinpoint trends, notice problems, or identify opportunities many people overlook.” At my former employer, leadership did not audit certain product manager decisions. On my own initiative, I instituted an auditing process. This led to the discovery that one product manager’s decisions cost the company more than $5M. “Because of your strengths, you can reconfigure factual information or data in ways that reveal trends, raise issues, identify opportunities, or offer solutions.” In a former position, product managers were responsible for driving revenue, yet there was no revenue reporting at the product level. After researching the issue, I found a report used to process monthly journal entries which when reconfigured, provided product managers with monthly product revenue. “You entertain ideas about the best ways to…increase productivity.” A few years back, I was trained by the former Operations Manager when I took on that role. After examining the tasks, I found I could reduce the time to perform the role by 66%. As a result, I was able to tell my Director I could take on some of the responsibilities of the two managers she had to let go. “You entertain ideas about the best ways to…solve a problem.” About twenty years ago I worked for a division where legacy systems were being replaced by a new company-wide ERP system. When I discovered no one had budgeted for training in my department, I took it upon myself to identify how to extract the data my department needed to perform its role, documented those learnings and that became the basis for a two day training class. “Sorting through lots of information rarely intimidates you. You welcome the abundance of information. Like a detective, you sort through it and identify key pieces of evidence. Following these leads, you bring the big picture into view.” I am listing these strengths to help you see the value of taking the Strengths Finder Assessment.

If you spend more time in real estate activities than you do in your regular job and the number of hours in real estate exceeds 750 hours in a year, you can fully write off your real estate paper losses against other income—no matter how much money you make and no matter how much your paper losses are. Of course, Jean kept good records to document her real estate professional status, so she had no worries from an IRS audit.

what’s now clear is that Satoshi was designing a technology that if existent would have likely ameliorated the toxic opacity of CMOs. Due to the distributed transparency and immutable audit log of a blockchain, each loan issued and packaged into different CMOs could have been documented on a single blockchain. This would have allowed any purchaser to view a coherent record of CMO ownership and the status of each mortgage within. Unfortunately, in 2008 multiple disparate systems—which were expensive and therefore poorly reconciled—held the system together by digital strings.

Plus, having your documentation in place reduces the amount of time your CPA bills you for an audit.

Their ability to investigate transactional discrepancies, or to defend themselves against allegations made by Post Office, were often thwarted because, following their suspension (usually on the day of an audit) they were, as a matter of Post Office policy, denied access to the branch… Post Office investigators also removed records, often including personal documents such as diaries… Applicants have also reported that, despite their requests, they never regained access to any of the records they needed to prove their innocence.

Bien qu’ils aient joué un rôle capital pendant le siège, on n’a pas sans doute assez insisté sur l’aide précieuse que les chiens de guet ont apportée aux défenseurs du Mont. On le comprendra mieux si l’on observe que, en plus des remparts couvrant la partie est et sud-est du Mont, il fallait aussi surveiller, de nuit surtout pour éviter toute surprise, les escarpements rocheux de l’ouest, et la pente nord, de part et d’autre de l’escalier fortifié de la fontaine Saint-Aubert (le petit bois qui la couvre n’existait pas alors) ; et que, pour la surveillance d’un aussi vaste périmètre, les hommes astreints au guet étaient peu nombreux. C’est pourquoi de tout temps, des chiens de garde, que l’on lâchait la nuit autour du Mont, complétaient les rondes et surveillaient les grèves sur tout le pourtour de l’île. Ces chiens étaient vraisemblablement des dogues. Le document le plus détaillé que nous ayons sur eux est de quelques années postérieur au siège. C’est le mandement que signa Louis XI, après son troisième pèlerinage au Mont en 1473 : « (Le sire du Bouchage) nous a dit et remontré que, pour la garde et sûreté de notre place du Mont-Saint-Michel, on a de tout temps accoutumé avoir et nourrir audit lieu certain nombre de grands chiens, lesquels sont par jour attachés et liés, et de nuit sont menés tous détachés hors de ladite place et à l’entour d’icelle pour, au long de la nuit, servir au guet et garde d’icelle place ; nous avons veu à l’ueil et congneu que la nourriture et entretien desdits chiens est très fort utile et profittable à la garde de la place dudit Mont-Saint-Michel, pour ces causes… avons voulu et octroyé par ces présentes… que le lieutenant dudit seigneur… ayt et praigne dorénavant par chacun an de la somme de 25 livres tournois des deniers de la revenue de notre vicomté d’Avranches… ».

Forensic DNA Expert Anil Gupta offer a variety of DNA forensic testing systems including STR, Y-STR, and mitochondrial DNA. The DNA Sample in Forensic Analysis can be collected from blood, saliva, perspiration, hair, teeth, mucus, finger nails, semon and these can be found almost anywhere at crime scence. Anil Gupta is here to help make sense of this complex scientific issue and to testify before the court on these issues when necessary. Initial Consultation is FREE – If you send us the report we will lend you our expertise to help you understand your situation. Written Reports and Affidavits Discovery Documents – free by request, all you need to obtain the entire laboratory case file Mike is a leading forensic DNA expert with considerable experience in forensic biology. He is a clear and balanced expert opinion highly qualified provider to help lawyers, attorneys and lawyers support their clients and the criminal justice system. He is a very experienced scientist, whose career has focused on developing the ability to DNA analysis, defining standards, interpreting results, explaining evidence and providing advice to help both the defense and Processing equipment. Mike has a great depth of technical knowledge. As the chief DNA scientist (head of discipline) with the former Forensic Science Service (FSS), he established technical standards for DNA analytical processes, staff competencies and training. He was head of the Specialist Unit at FSS DNA and led the creation of the first dedicated facility of ultra-clean low template DNA. He has led the validation and implementation of several important new DNA processes. Through audit and process review, it can provide an effective and risk-based quality assurance, as it has for many years to the FSS, to the National DNA Database and to the courts.

Despite the refusal of the Obama Justice Department to prosecute anyone at the IRS, it is clear that what happened was an epic clampdown on any conservative voices speaking or advocating against the president’s disastrous policies and in favor of patriotism and adherence to the Constitution and the rule of law. Over the course of twenty-seven months leading up to the 2012 election, not a single Tea Party–type organization received tax-exempt status. Many were unable to operate; others disbanded because donors refused to fund them without the IRS seal of approval; some organizations and their donors were audited without justification; and many incurred legal fees and costs fighting the unlawful conduct by Lerner and other IRS employees. The IRS suppressed the entire Tea Party movement just in time to help Obama win reelection. And everyone in the administration involved in this outrageous conduct got away with it without being punished or prosecuted. Was it simply a case of retribution against the perceived “enemies” of the administration? No, this was much bigger than political payback. It was a systematic and concerted effort to squash the Tea Party movement—one of the most organic and powerful political movements in recent memory—during an election season. [See Appendix for select IRS documents uncovered by Judicial Watch.] This was about campaign politics. It was a scandal for the ages. President Obama obviously wanted this done even if he gave no direct orders for it. In 2015, he told Jon Stewart on The Daily Show that “you don’t want all this money pouring through non-profits.” But there is no law preventing money from “pouring through non-profits” that they use to achieve their legal purposes and the objectives of their members. Who didn’t want this money pouring through nonprofits? Barack Obama. In the subsequent FOIA litigation filed by Judicial Watch, the IRS obstructed and lied to a federal judge and Judicial Watch in an effort to hide the truth about what Lois Lerner and other senior officials had done. The IRS, including its top political appointees like IRS Commissioner John Koskinen and General Counsel William J. Wilkins, have much to answer for over their contempt of court and of Congress. And the Department of Justice lawyers and officials enabling this cover-up in court need to be held accountable as well. If the Tea Party and other conservative groups had been fully active in the critical months leading up to the 2012 election, would Mitt Romney have been elected president? We will, of course, never know for certain. But we do know that President Obama’s Internal Revenue Service targeted right-leaning organizations applying for tax-exempt status and prevented them from entering the fray during that period. That is how you steal an election in plain sight. Accountability is not something we will get from the Obama administration. But Judicial Watch will continue its independent investigation and certainly any new presidential administration should take a fresh look at this IRS scandal.

Process follow up is critical for success. But following it blindly is dangerous. The way to examine which processes should be kept without any deviation and which should be challenged is to document the process in a way that combines the processes with the logic behind those processes. It is the ability to check the assumptions behind the process that enables good process audit.

The Importance of Accounting Services for Businesses In today’s competitive business environment, maintaining accurate financial records and ensuring compliance with tax regulations is essential for long-term success. Accounting services provide businesses with the necessary tools and expertise to manage their finances efficiently. Whether for small businesses or large corporations, professional accounting services help streamline financial processes, ensure regulatory compliance, and offer strategic insights for growth. What Are Accounting Services? Accounting services encompass a wide range of tasks, including bookkeeping, financial reporting, tax preparation, payroll management, and auditing. These services are designed to help businesses track their income, expenses, and overall financial health. By outsourcing accounting tasks to professionals, businesses can focus on their core activities while ensuring that their financial operations run smoothly. Additionally, accurate and timely accounting services help businesses avoid costly errors and penalties. Benefits of Professional Accounting Services One of the main advantages of hiring professional accounting services is the accuracy they bring to financial management. Skilled accountants have a deep understanding of financial regulations and tax laws, ensuring that businesses remain compliant. Moreover, accountants can identify tax-saving opportunities, helping businesses reduce their tax liabilities. This level of expertise allows businesses to save time and money, as they no longer need to navigate complex financial tasks on their own. Strategic Financial Planning In addition to managing day-to-day financial tasks, accounting services play a crucial role in strategic financial planning. Accountants analyze a company’s financial data to provide valuable insights into cash flow, profitability, and potential areas for improvement. This data-driven approach enables business owners to make informed decisions, allocate resources efficiently, and plan for future growth. Compliance and Risk Management Compliance with financial regulations is vital for businesses to avoid legal and financial risks. Accounting services ensure that all financial documents are in order, tax filings are accurate, and deadlines are met. By maintaining accurate records and staying up to date with tax laws, businesses can reduce the risk of audits and penalties. In conclusion, accounting services are an essential component of successful financial management for businesses of all sizes. By providing accurate financial reporting, strategic insights, and ensuring compliance, professional accountants enable businesses to focus on growth and sustainability.