Independent Audit

• Offshoring the Independent Audit Function

The offshoring of business processes has become increasingly popular. Fueled by advancements in technology, the benefits of offshoring are primarily attributable to the savings from lower personnel costs at foreign locations. According to the Global Financial Services Offshoring Report 2007 by Deloitte & Touche USA LLP, over 75% of major financial institutions report offshoring a portion of their operations. Some economists estimate that up to one-third of total US employment in services may ultimately be offshored. Audit firms choosing to offshore portions of the independent audit function should be mindful of public perceptions related to the exportation of professional services. The offshoring of audit procedures presents auditing firms with unique opportunities and challenges. C...

• CPA Journal, The
• Vol. 79 Nbr. 1, January 2009

• 12 CFR 513.8 - Removal, suspension, or debarment of independent public accountants and accounting firms performing audit services.

• Code of Federal Regulations - Title 12: Banks and Banking

• Portsmouth Needs Independent Audit

THE LONG, ugly and distracting battle over funding for the Portsmouth Sheriff's Office won't be resolved until the City Council brings in an auditor to ensure the city is disbursing money correctly and the sheriff is spending it appropriately. This week, the City Council agreed to dip into reserve funds to restore most of the $1.8 million in cuts to the department's budget.

• The Virginian-Pilot and The Ledger-Star, Norfolk, VA
• July 29, 2011

• Independent Audit Confirms Record Numbers of Exhibitors, International Attendees at the 2012 International CES.

World's Largest Technology Tradeshow Sees 22 Percent Growth in Exhibitors and 13 Percent Growth in International Attendance ARLINGTON, Va. -- The Co...

• Business Wire
• May 22, 2012

• Rep. Brad Miller and Rep. Gabrielle Giffords Hold a Joint Hearing On the Independent Audit of Nasa

HOUSE COMMITTEE ON SCIENCE AND TECHNOLOGY, SUBCOMMITTEE ON INVESTIGATIONS AND OVERSIGHT AND SUBCOMMITTEE ON SPACE AND AERONAUTICS HOLD A J...

• Political Transcript Wire
• December 18, 2009

• Statement on auditing standards overall objectives of the independent auditor and the conduct of an audit in accordance with generally accepted auditing standards.

Statement on Auditing Standards (SAS) Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted ...

• Journal of Accountancy
• Vol. 209 Nbr. 4, April 2010

• High-Speed Rail Project Needs Independent Audit

There are many missing elements to California's high-speed rail proposal, but the most glaring one is honesty. What is needed before any further action is taken is a realistic, accurate audit by a nonpartisan watchdog agency that has no stake in the development or abandonment of the rail project. That is what congressional Republicans are calling for in the wake of growing concern about the high cost of the project, dubious ridership estimates, inflated job-creation projections, unrealistic funding expectations, legal questions and broad deviation from the bond measure that won voter support in 2008.

• Redlands Daily Facts
• January 04, 2012

• Independent Audit by ITS Global Shows Greenpeace Faked Data to Build Phony Case Against APP.

JAKARTA, Indonesia -- Greenpeace was caught using false and misleading information to attack the credibility of a company to advance its agenda, accor...

• Business Wire
• September 26, 2010

• Dss Overpaid for Husky Program, Independent Audit Shows?

By Mary E. O'Leary Register Topics Editor HARTFORD -- The Department of Social Services overpaid the managed care organizations that run the HUSKY Medicaid program by some $50 million, according to an independent audit.

• New Haven Register
• June 03, 2009

• Beazer Homes Announces Findings of Independent Audit Committee Investigation.

Company to Restate Financials with Cumulative Impact Expected to be an Increase in Net Income Despite a Reduction in 2006 Net Income Company Amends ...

• Business Wire
• October 11, 2007