Internal Auditing Quotes

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Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States
Barry M. Goldwater
One sure way to increase a businesses profits is to implement a process improvement program. When a business audits it's internal processes and extracts waste from those processes, the result is inevitably more time or money being leftover.
Hendrith Vanlon Smith Jr.
Having routine internal audits helps to make sure that the company passes it's external audits.
Hendrith Vanlon Smith Jr.
Developing and implementing IT governance design effectiveness and efficiency can be a multidirectional, interactive, iterative, and adaptive process.
Robert E. Davis (IT Auditing: IT Governance (IT Auditing, #4))
Internal controls and audit oversight are indispensable pillars of sound financial management, providing a framework for safeguarding assets, ensuring the accuracy and reliability of financial reporting, and promoting operational efficiency.
Hendrith Vanlon Smith Jr. (The Virtuous Boardroom: How Ethical Corporate Governance Can Cultivate Company Success)
The wealthy have also fought to underfund and defang the Internal Revenue Service, so it doesn’t have the resources to audit or fight dubious deductions. Only about 6 percent of tax returns of those with income of more than $1 million are audited, along with 0.7 percent of business tax returns. Meanwhile, there is one group that the IRS scrutinizes rigorously: the working poor with incomes below $20,000 a year who receive the Earned Income Tax Credit. More than one-third of all tax audits are focused on that group struggling to make ends meet, even as the agency cuts back on audits of the wealthy—while the top 5 percent of taxpayers account for more than half of all underreported income.
Nicholas D. Kristof (Tightrope: Americans Reaching for Hope)
The Americans struggled to understand just how much support reached bin Laden in Afghanistan from Saudi sources. It appeared to be substantial, even into 2000. A Saudi government audit of the National Commercial Bank, the kingdom’s largest, showed that at least $3 million had flowed from its accounts to bin Laden. One of Saudi Arabia’s largest charities, the International Islamic Relief Organization, acknowledged that it had sent about $60 million to the Taliban.25
Steve Coll (Ghost Wars: The Secret History of the CIA, Afghanistan & Bin Laden from the Soviet Invasion to September 10, 2001)
I wrote two five-page short stories, two five-page epics, to audition for my college's creative writing workshops, and was turned down both times. I was crushed, but in retrospect it was perfect training for being a writer. You can keep ‘write what you know’—for a true apprenticeship, internalize the world’s indifference and accept rejection and failure into your very soul.
Colson Whitehead (The Noble Hustle: Poker, Beef Jerky, and Death)
The Internal Revenue Service which collects taxation in America is also a private company, though the public believe it is part of their government. In 1863 the Bureau of Internal Revenue was formed to collect taxation, but in 1933, that year again, came the start of another coup on the American people. Three members of the Prescott Bush circle, Helen and Clifton Barton and Hector Echeverria, formed the Internal Revenue Tax and Audit Service, registered in Delaware, America’s flag of convenience state, where few questions are asked. Prescott Bush was the father of George Bush. In 1936, this organisation changed its name to the Internal Revenue Service and ran as a private company. In 1953, the original Bureau of Internal Revenue was disbanded, leaving the private Internal Revenue Service to collect all the taxes, illegal taxes most of them, too. This is controlled by the same people who own the Federal Reserve and the Virginia Company and it is bleeding America dry. The Internal Revenue Service was, appropriately, created by American Nazis who were funding Adolf Hitler under the coordination of Prescott Bush, George’s father.
David Icke (The Biggest Secret: The book that will change the World)
Measuring requires, first and foremost, analytical ability. But it also demands that measurement be used to make self-control possible rather than abused to control people from the outside and above—that is, to dominate them. It is the common violation of this principle that largely explains why measurement is the weakest area in the work of the manager today. As long as measurements are abused as a tool of control (for instance, as when measurements are used, as a weapon of an internal secret police that supplies audits and critical appraisals of a manager’s performance to the boss without even sending a carbon copy to the manager himself) measuring will remain the weakest area in the manager’s performance.2
Peter F. Drucker (Management: Tasks, Responsibilities, Practices)
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Back then, Japan as a nation aspired to something in which each individual seemed invested. And that "something"wasn't just about economic growth, or transforming the yen into an international currency. It had more to do with accessing information. Information was indispensable, and not only as a means of obtaining necessities like food and clothing and medicine. Within two or three years of World War II's end, starvation had been basically eliminated in Japan, and yet the Japanese had continued slaving away as if their lives depended on it. Why? To create a more abundant life? If so, where was the abundance? Where were the luxurious living spaces? Eyesores dominated the scenery wherever you went, and people still crammed themselves into packed commuter trains each morning, submitting to conditions that would be fatal for any other mammal. Apparently what the Japanese wanted wasn't a better life, but more things. And things, of course, were a form of information. But as things became readily available and information began to flow smoothly, the original aspiration got lost in the shuffle. People were infected with the concept that happiness was something outside themselves, and a new and powerful form of loneliness was born. Mix loneliness with stress and enervation, and all sorts of madness can occur. Anxiety increases, and in order to obliterate the anxiety people turn to extreme sex, violence, and even murder.
Ryū Murakami (Audition)
Found a startup society. This is simply an online community with aspirations of something greater. Anyone can found one, just like anyone can found a company or cryptocurrency.2 And the founder’s legitimacy comes from whether people opt to follow them. Organize it into a group capable of collective action. Given a sufficiently dedicated online community, the next step is to organize it into a network union. Unlike a social network, a network union has a purpose: it coordinates its members for their mutual benefit. And unlike a traditional union, a network union is not set up solely in opposition to a particular corporation, so it can take a variety of different collective actions.3 Unionization is a key step because it turns an otherwise ineffective online community into a group of people working together for a common cause. Build trust offline and a cryptoeconomy online. Begin holding in-person meetups in the physical world, of increasing scale and duration, while simultaneously building an internal economy using cryptocurrency. Crowdfund physical nodes. Once sufficient trust has been built and funds have been accumulated, start crowdfunding apartments, houses, and even towns to bring digital citizens into the physical world within real co-living communities. Digitally connect physical communities. Link these physical nodes together into a network archipelago, a set of digitally connected physical territories distributed around the world. Nodes of the network archipelago range from one-person apartments to in-person communities of arbitrary size. Physical access is granted by holding a web3 cryptopassport, and mixed reality is used to seamlessly link the online and offline worlds. Conduct an on-chain census. As the society scales, run a cryptographically auditable census to demonstrate the growing size of your population, income, and real-estate footprint. This is how a startup society proves traction in the face of skepticism. Gain diplomatic recognition. A startup society with sufficient scale should eventually be able to negotiate for diplomatic recognition from at least one pre-existing government, and from there gradually increased sovereignty, slowly becoming a true network state.
Balaji S. Srinivasan (The Network State: How To Start a New Country)
True to her word, Iris began getting me meatier auditions. Working in Romania had given me a taste of what it was like to make a movie; I hoped it would be the start of something more. With that expectation came a lot of scary internal pressure. I was shocked to realize how much more pleasant it was to feel like an underdog.
Greg Sestero (The Disaster Artist: My Life Inside The Room, the Greatest Bad Movie Ever Made)
Many people reading these words were probably “volun-told” to become auditors.
Craig Cochran (Internal Auditing in Plain English: A Simple Guide to Super Effective ISO Audits)
One of the people leading the field in algorithmic auditing is Cathy O’Neil, the author of Weapons of Math Destruction. Her book is one of the catalysts for the entire movement for algorithmic accountability. O’Neil’s consulting company, O’Neil Risk Consulting & Algorithmic Auditing (ORCAA), does bespoke auditing to help companies and organizations manage and audit their algorithmic risks. I have had the good fortune to consult with ORCAA. When ORCAA considers an algorithm, they start by asking two questions: What does it mean for this algorithm to work? How could this algorithm fail, and for whom? One thing ORCAA does is what’s called an internal audit, which means they ask these questions directly of companies and other organizations, focusing on algorithms as they are used in specific contexts.
Meredith Broussard (More than a Glitch: Confronting Race, Gender, and Ability Bias in Tech)
Herzog, who were you with before being recruited by the Monster Control Bureau?" "Internal Revenue Service." God help us. "Oh… well… okay then." That made sense. I had a sneaking suspicion that she had once audited my old job. Somebody from the IRS had actually taken the time to draw frowny faces in red ink on a depreciation schedule that I had filled out. She seemed like the type.
Larry Correia (Monster Hunter Vendetta (Monster Hunters International, #2))
Given the concentration of the Big 4, which accounts for 94% of public companies followed by Grant Thornton International and BDO International, 235 a mid-size accounting firm’s typical client is a mid-size or privately held company. Fortunately there are hundreds of thousands mid-size companies which are now part of the global economy. This has created a growing need for network membership. However, the rules on auditing public companies are being re-evaluated to require that auditing assignments rotate outside of the Big 4 to independent accounting firms. 236
Anonymous
experts was not enough. Furthermore, financial audits were not reliable and supervision and management of the competent administrative agencies and the internal
조건만구함
Our approach to QA is based on the belief that the balance between control and accountability on the one hand and quality enhancement on the other must be weighted towards the latter. Only if the QA process is perceived as bringing advantages to those who interact with it, will they contribute to it co-operatively and positively, and only in such circumstances will quality be enhanced.
Sally Brown (Internal Audit in Higher Education (Creating Success))
She flips to the second page. “The projects seem to fall into the following categories: replacing fragile infrastructure, vendor upgrades, or supporting some internal business requirement. The rest are a hodgepodge of audit and security work, data center upgrade work, and so forth.
Gene Kim (The Phoenix Project: A Novel About IT, DevOps, and Helping Your Business Win)
The integrity of accounting information is enhanced in three primary ways. First, certain institutional features add significantly to the integrity of accounting information. These features include standards for the preparation of accounting information, an internal control structure, and audits of financial statements. Second, several professional accounting organizations play unique roles in adding to the integrity of accounting information. Finally, and perhaps most important, is the personal competence, judgment, and ethical behavior of professional accountants. These three elements of the accounting profession come together to ensure that users of accounting information—investors, creditors, managers, and others—can rely on the information to be a fair representation of what it purports to represent.
Williams (Financial & Managerial Accounting)
A liberal front group called Citizens for Responsibility and Ethics (CREW) actually sent a letter to the head of the FCC asking for Fox’s broadcast licenses to be revoked.16 Do we have any other examples of the Obama administration using a supposedly neutral government agency to go after its critics and political opponents? That’s right: President Obama’s Internal Revenue Service (IRS) has clearly gone after groups that worked against the administration’s agenda—and individuals, too! I myself got an audit in 2011, which I’m sure had nothing at all to do with my frequent statements on television opposing President Obama’s reelection.
Eric Bolling (Wake Up America: The Nine Virtues That Made Our Nation Great—and Why We Need Them More Than Ever)
ahead of ICAO audit By Tarun Shukla | 527 words New Delhi: India's civil aviation regulator has decided to restructure its safety board and hire airline safety professionals ahead of an audit by the UN's aviation watchdog ICAO (International Civil Aviation Organization). The Directorate General of Civil Aviation (DGCA) announced its intent, and advertised the positions on its website. ICAO told the Indian regulator recently that it would come down to India to conduct an audit, its third in just over a decade, Mint reported on 12 February. Previous ICAO audits had highlighted the paucity of safety inspectors in DGCA. After its 2006 and 2012 audits, ICAO had placed the country in its list of 13 worst-performing nations. US regulator Federal Aviation Authority followed ICAO's 2012 audit with its own and downgraded India, effectively barring new flights to the US by Indian airlines. FAA is expected to visit India in the summer to review its downgrade. The result of the ICAO and FAA audits will have a bearing on the ability of existing Indian airlines to operate more flights to the US and some international destinations and on new airlines' ability to start flights to these destinations. The regulator plans to hire three directors of safety on short-term contracts to be part of the accident investigation board, according to the information on DGCA's website. This is first time the DGCA is hiring external staff for this board, which is critical to ascertain the reasoning for any crashes, misses or other safety related events in the country. These officers, the DGCA said on its website, must have at least 12 years of experience in aviation, specifically on the technical aspects, and have a degree in aeronautical engineering. DGCA has been asked by international regulators to hire at least 75 flight inspectors. It has only 51. India's private airlines offer better pay and perks to inspectors compared with DGCA. The aviation ministry told DGCA in January to speed up the recruitment and do whatever was necessary to get more inspectors on board, a government official said, speaking on condition of anonymity. DGCA has also announced it will hire flight operations inspectors as consultants on a short-term basis for a period of one year with a fixed remuneration of `1.25 lakh per month. "There will be a review after six months and subsequent continuation will be decided on the basis of outcome of the review," DGCA said in its advertisement. The remuneration of `1.25 lakh is higher than the salary of many existing DGCA officers. In its 2006 audit, ICAO said it found that "a number of final reports of accident and serious incident investigations carried out by the DGCA were not sent to the (member) states concerned or to ICAO when it was applicable". DGCA had also "not established a voluntary incident reporting system to facilitate the collection of safety information that may not otherwise be captured by the state's mandatory incident reporting system". In response, DGCA "submitted a corrective action plan which was never implemented", said Mohan Ranganthan, an aviation safety analyst and former member of government appointed safety council, said of DGCA. He added that the regulator will be caught out this time. Restructuring DGCA is the key to better air safety, said former director general of civil aviation M.R. Sivaraman. Hotel industry growth is expected to strengthen to 9-11% in 2015-16: Icra By P.R. Sanjai | 304 words Mumbai: Rating agency Icra Ltd on Monday said Indian hotel industry revenue growth is expected to strengthen to 9-11% in 2015-16, driven by a modest increase in occupancy and small increase in rates. "Industry wide revenues are expected to grow by 5-8% in 2014-15. Over the next 12 months, Icra expects RevPAR (revenue per available room) to improve by 7-8% driven by up to 5% pickup in occupancies and 2-3% growth in average room rates (ARR)," Icra said. Further, margins are expected to remain largely flat for 2014-15 while
Anonymous
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.
Tom Fitton (Clean House: Exposing Our Government's Secrets and Lies)
Azhar Sarwar is certified to perform many different kinds of financial internal audits, including passing the FDIC certification.
Azhar Sarwar
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On October 4, the FISC held a standard follow-up hearing to discuss the government’s September 26 submission. NSD Chief Carlin was reportedly present at the proceeding, which was uneventful because the government, again, failed to disclose the compliance issues the NSA’s internal audits had begun uncovering ten months earlier. Carlin left the government eleven days later, replaced by his deputy, Mary McCord
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