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Accountants

Jeffrey E Michelman

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Full-Text Articles in Business

Cpas' Role In Fighting Fraud In Nonprofit Organization, Andrea Mcneal, Jeffrey E. Michelman Jan 2012

Cpas' Role In Fighting Fraud In Nonprofit Organization, Andrea Mcneal, Jeffrey E. Michelman

Jeffrey E Michelman

The article discusses the role of financial officers and certified public accountants in facilitating and ensuring effective internal controls in nonprofit organizations. Nonprofit boards frequently experience a high turnover of members, and individuals that volunteer are often untrained or unqualified to properly perform the oversight function. Moreover, most small nonprofits are cash based, which can compound any issues or weaknesses present in the control environment.


Improving Internal Control Over Financial Reporting: Coso’S Guidance Not Just For Public Companies Anymore, Jeffrey E. Michelman, Bobby E. Waldrup Jan 2012

Improving Internal Control Over Financial Reporting: Coso’S Guidance Not Just For Public Companies Anymore, Jeffrey E. Michelman, Bobby E. Waldrup

Jeffrey E Michelman

When the Committee of Sponsoring Organizations (COSO) released itsInternal Control—Integrated Framework (ICFR) in 1992, the event went largely unnoticed. The importance of this framework changed dramatically with the passage of the Sarbanes-Oxley Act of 2002 (SOX). Because SOX required all covered entities to base their assessment of internal control on a recognized framework, COSO was readily embraced. Unfortunately, smaller public and nonpublic companies have found the 1992 framework complicated to apply and to understand.