This document provides an overview of auditing, attestation, and assurance services. It discusses the responsibilities of management and auditors, components of an internal control structure, assessing audit risk and evaluating evidence, and testing specific accounting cycles like revenues/receivables and expenses/payables. Key topics covered include the definition of an audit, types of audits and auditors, generally accepted auditing standards, auditor independence, and methods to encourage ethical behavior.
How Prepared Is Your Bank for an Appraisal Compliance Audit?EDR
How Prepared Is Your Bank for an Appraisal Compliance Audit?
Mitch Kreeger, MAI SRA MBA, Chief Appraiser and Principal Consultant, Kreeger Consulting
March 31, 2015
EDR Insight Webinar
Commercial real estate markets continue their slow recovery. As demand for loans intensifies, regulatory compliance is top of mind for financial institutions. Bank regulators are exercising strict oversight over all types of bank underwriting, including commercial appraisals. This webinar will address head-on the challenges that institutions face in meeting the latest guidance impacting the appraisal function, and what risk managers can and should be doing to survive an appraisal compliance audit.
Attendees will receive answers to these important questions:
• What do current guidance/regulations require of banks related to appraisals and how has that changed?
• What specific things are bank examiners looking for in an appraisal compliance audit?
• Are you doing everything you can to prepare your institution for the scrutiny of examiners before an audit? During an audit? After an audit?
• What are the latest best practices that banks should include today in their appraisal policies to protect themselves during this stage of market recovery?
EDR Insight is fortunate to have Mitch Kreeger for this timely event. Kreeger is a well-known Subject Matter Expert (SME) on various valuation, environmental and seismic risk, and regulatory compliance topics by peers nationwide. Currently, Kreeger is Chief Appraiser and Principal Consultant at Kreeger Consulting, a private appraisal/environmental/seismic risk consulting services firm that offers commercial appraisal reviews, outsourced Chief Appraiser duties, and advisory services to lenders on regulatory compliance, efficient appraisal/environmental risk functions, and effective policy updates.
Audience:
• Primary: Risk managers at financial institutions, particularly at community bank level
• Secondary: Commercial appraisers
Audit Firm Rotation and Audit Report Lag in NigeriaIOSR Journals
Audit firm rotation and audit report lag has been a topical issue to regulators, investors, practitioners and the public at large. Hence, this study is designed to determine the relationship between audit firm rotation and audit report lag in Nigeria. Secondary data gathered from the 2011 annual reports of fifty (50) randomly selected companies, quoted on the floor of the Nigerian Stock Exchange (NSE) were employed in the study. The Ordinary Least Square technique (OLS) was used in the analysis of the relationship between the dependent and independent variables. The study reveals that audit fees, year–end and audit firm type all have positive relationship with audit report lag. The research also establishes that audit firm rotation and company size have a negative insignificant relationship with audit report lag.
How Prepared Is Your Bank for an Appraisal Compliance Audit?EDR
How Prepared Is Your Bank for an Appraisal Compliance Audit?
Mitch Kreeger, MAI SRA MBA, Chief Appraiser and Principal Consultant, Kreeger Consulting
March 31, 2015
EDR Insight Webinar
Commercial real estate markets continue their slow recovery. As demand for loans intensifies, regulatory compliance is top of mind for financial institutions. Bank regulators are exercising strict oversight over all types of bank underwriting, including commercial appraisals. This webinar will address head-on the challenges that institutions face in meeting the latest guidance impacting the appraisal function, and what risk managers can and should be doing to survive an appraisal compliance audit.
Attendees will receive answers to these important questions:
• What do current guidance/regulations require of banks related to appraisals and how has that changed?
• What specific things are bank examiners looking for in an appraisal compliance audit?
• Are you doing everything you can to prepare your institution for the scrutiny of examiners before an audit? During an audit? After an audit?
• What are the latest best practices that banks should include today in their appraisal policies to protect themselves during this stage of market recovery?
EDR Insight is fortunate to have Mitch Kreeger for this timely event. Kreeger is a well-known Subject Matter Expert (SME) on various valuation, environmental and seismic risk, and regulatory compliance topics by peers nationwide. Currently, Kreeger is Chief Appraiser and Principal Consultant at Kreeger Consulting, a private appraisal/environmental/seismic risk consulting services firm that offers commercial appraisal reviews, outsourced Chief Appraiser duties, and advisory services to lenders on regulatory compliance, efficient appraisal/environmental risk functions, and effective policy updates.
Audience:
• Primary: Risk managers at financial institutions, particularly at community bank level
• Secondary: Commercial appraisers
Audit Firm Rotation and Audit Report Lag in NigeriaIOSR Journals
Audit firm rotation and audit report lag has been a topical issue to regulators, investors, practitioners and the public at large. Hence, this study is designed to determine the relationship between audit firm rotation and audit report lag in Nigeria. Secondary data gathered from the 2011 annual reports of fifty (50) randomly selected companies, quoted on the floor of the Nigerian Stock Exchange (NSE) were employed in the study. The Ordinary Least Square technique (OLS) was used in the analysis of the relationship between the dependent and independent variables. The study reveals that audit fees, year–end and audit firm type all have positive relationship with audit report lag. The research also establishes that audit firm rotation and company size have a negative insignificant relationship with audit report lag.
- Observations on new commercial lending activity in the market and regulatory concerns
- Industry Events and Important releases to be mindful of
- CEIS Spotlight on Mr. Christopher “Kit” Webbe, Structured Finance & International Specialist
- Ms. Liz Williams answers Common Questions about the “ALLL – Important” ALLL Validation
http://www.ceisreview.com/the-ceis-quarterly-newsletter-volume-2-issue-1/
Verittas Risk Advisors, Inc - Overview of CapabilitiesGeorge Mark
Verittas Risk Advisors creates authentic business partnerships with financial institutions. The close working relationship between you and Verittas brings you industry expertise, hands-on experience of current financial services practice, and intimate ‘best practice’ knowledge.
How To Make Your Day Last Longer: Time Management in Marketing Projects Alek Kowalczyk
For all marketing people who suffer from procrastination and too short day. For all who believe they manage their time perfectly, but appear to be often late, stressed or not having control when talking to the customer.
Check out the presentation! It describes simple techniques, tools and competences helping to efficiently manage time in your marketing projects and achieve successes. These techniques can be very helpful and aligned with marketers' creative souls.
By Alex Kowalczyk, creator of http://www.foxytasks.com - simple project management for creative people
How to Quantumly Grow your Ecommerce Business - Strategies and TacticsGoECart
How to Quantumly Grow Your Ecommerce Business:
• Implementing the best e-commerce technologies for your web store
• e-marketing with the latest techniques and strategies
• Competing effectively against the giants with more resources
• Important strategies and tactics that convert shoppers into buyers
• 10 ways to improve ROI - Now: Management, marketing, technology and operations tips that will provide a quick boost in ROI
• What all e-retailers need to know about tomorrow's technology: understanding recent technology evolution, what's coming down the road and what tech investments you should be prepared for in the coming year.
• How to Analyze, and Outsmart, Your Ecommerce Competitors
Los docentes del área de Ciencia, Tecnología y Ambiente trabajaron con las estudiantes de la IES Santa Rosa-Puno, maravillosos objetos: carteras, bolsos, portalapiceros, cochilas, etc. con material reusable.
- Observations on new commercial lending activity in the market and regulatory concerns
- Industry Events and Important releases to be mindful of
- CEIS Spotlight on Mr. Christopher “Kit” Webbe, Structured Finance & International Specialist
- Ms. Liz Williams answers Common Questions about the “ALLL – Important” ALLL Validation
http://www.ceisreview.com/the-ceis-quarterly-newsletter-volume-2-issue-1/
Verittas Risk Advisors, Inc - Overview of CapabilitiesGeorge Mark
Verittas Risk Advisors creates authentic business partnerships with financial institutions. The close working relationship between you and Verittas brings you industry expertise, hands-on experience of current financial services practice, and intimate ‘best practice’ knowledge.
How To Make Your Day Last Longer: Time Management in Marketing Projects Alek Kowalczyk
For all marketing people who suffer from procrastination and too short day. For all who believe they manage their time perfectly, but appear to be often late, stressed or not having control when talking to the customer.
Check out the presentation! It describes simple techniques, tools and competences helping to efficiently manage time in your marketing projects and achieve successes. These techniques can be very helpful and aligned with marketers' creative souls.
By Alex Kowalczyk, creator of http://www.foxytasks.com - simple project management for creative people
How to Quantumly Grow your Ecommerce Business - Strategies and TacticsGoECart
How to Quantumly Grow Your Ecommerce Business:
• Implementing the best e-commerce technologies for your web store
• e-marketing with the latest techniques and strategies
• Competing effectively against the giants with more resources
• Important strategies and tactics that convert shoppers into buyers
• 10 ways to improve ROI - Now: Management, marketing, technology and operations tips that will provide a quick boost in ROI
• What all e-retailers need to know about tomorrow's technology: understanding recent technology evolution, what's coming down the road and what tech investments you should be prepared for in the coming year.
• How to Analyze, and Outsmart, Your Ecommerce Competitors
Los docentes del área de Ciencia, Tecnología y Ambiente trabajaron con las estudiantes de la IES Santa Rosa-Puno, maravillosos objetos: carteras, bolsos, portalapiceros, cochilas, etc. con material reusable.
5 ways your marketing project can ruin customer dayAlek Kowalczyk
Marketers do very creative and impressive projects. But overall result can be easily ruined by not following some simple best practices in project management.
Here is our checklist for marketing managers!
Learn about the standard for assurance over non-financial information ISAE 3000 and supporting assurance reporting associated with third-parties (ISAE 3402, SSAE 16, SOC1, SOC 2 and SOC 3). The presentation covers the sustainability report with information about economic, environmental, social and governance performance from organizations. The sustainability reports is a method to internalize and improve an organization’s commitment to sustainable development in a way that can be demonstrated to both internal and external stakeholders.
Client Evaluation and Planning the Audit Lecture slide chapter 8
Describe the steps involved in client acceptance and continuance.
State the purpose and content of an engagement letter.
Explain the steps in planning an audit.
Identify the risks of misstatement through understanding the entity and its environment.
Explain the role of analytical procedures in audit planning.
Describe the requirements to consider the risk of fraud in the audit planning process.
Explain the purpose and function of audit working papers.
Qualitative Analysis
Learning Objectives
Discuss the purposes of qualitative and quantitative analysis and characteristics of each.
Explain measurement scales and areas of qualitative analysis.
Discuss the assessment of broad loss exposures that may have a financial impact on the organization but may be difficult to quantify.
Learning Objectives
Explain the purpose, characteristics of quality loss data and the basic ways loss data can be organized for analysis.
Discuss risk mapping and how it is used as a key risk management tool.
Skills Application Case
Diamond Creek Resorts International, Inc. (DCRI)
Learning Objective #1:
Discuss the purposes of qualitative and quantitative analysis and characteristics of each.
I. Qualitative Analysis
Purposes
The “what” analysis
Identification and evaluation of loss exposures that cannot be easily measured by traditional statistical or financial methods
Qualitative Analysis
Attempts to assign relative values to determine implications and scope of effects risks have on an organization; does not try to assign hard financial values to assets, expected losses and cost of controls
Helps management understand the potential impact of the organization’s ultimate risks on performance
Qualitative Analysis
Characteristics
Conducted using questionnaires, surveys, task forces, workshops and collaboration with a variety of internal and external knowledgeable groups related to an organization
Frequently addresses the following questions:
Should we do this?
What is the impact on the organization’s reputation or morale?
II. Quantitative Analysis
Purposes
The “how much” analysis
Attempts to accurately measure risks by using acceptable traditional methodologies to calculate relative numerical values
Quantitative Analysis
Characteristics
Conducted by using analysis of losses, exposures, costs, benefits and financial statements
Frequently addresses the following questions:
Can we do this?
What is the financial impact of this?
III. Reasons to use both Qualitative and Quantitative Analyses
Valid answers are needed, e.g., predicted losses, value of claims
Costs and benefits are primary factors of decision making
Non-monetary factors are part of the decision-making process, e.g., reputation, morale and citizenship
Learning Objective #2:
Explain measurement scales and areas of qualitative analysis.
II. Measurement Scales of Qualitative Risk Exposures
Identification methods should be used to analyze those qualitative risks that could have a potentially harmful impact on the organization, although they are not subject to financial measurements
Measurement Scales
Measurement scales depict relative values that are not easily quantified
Critical risks – assigned to a level to capture their critical nature to the organization, e.g., losses that could bankrupt the organization, threaten survival or stop operations
Important risks – could result in losses that would require t ...
Corporate Integrity Agreements (CIAs) outline the obligations a health care provider or other entity must agree to in exchange for continued participation in Federal health care programs. This SlideShare provides valuable guidance on:
-Standard and case specific CIA terms and conditions,
-The expanding role of Independent Review Organizations (IROs),
-Increased mandates for Boards, executive leadership and the compliance office,
-The role of Compliance Experts, and
-Certifications by boards, executives, and compliance officers
Annual and periodic reporting requirements
For additional information on CIAs and selecting an IRO, visit our IRO knowledge center at http://compliance.com/independent-review-organization.
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