Can someone please explain what design attributes are when testing controls?
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“A Skills Gap Is Turning Cleaning for the Rich Into a $100,000 Job As the wealthy get wealthier and fuel a boom in luxury furnishings, highly trained household staff are in high demand.” Why are all these jobs no college degree paying as much as accountants or more ? Accountants keep getting the short end of the stick
How late is too late to be sending emails to the team? Sometimes I'm working later into the evening and send out emails so I don't forget. I'm sending these emails to the team's work emails and I've made it clear I don't expect responses until the next day. But sometimes people still complain. Just turn off your notifications when you leave work. What's the big deal?
There's a special place in hell reserved for the asshole who invented internal controls testing.
They are the specific step by step details of the control that the control owner performs to meet the objective of the control. Based on the design attributes, we create our testing attributes, to then test that each of the design attributes of the control were performed by the control owner.
It takes bean counting to the extreme and says not only must we accountants count them beans, but we gotta be sure the guy doing the counting of them beans did it in just such a perfect way that even though we independently recounted the beans he counted and we got the same total as him, we gotta make sure there's no way he (and we?) miscounted. The argument that a company could have a clean substantive audit and fail on an internal controls (integrated) audit and we'd ding them in the opinion letter, is simply maddening. #KillSOX. #FAKEaccountingwork
^ yep. Think of it as the theory behind the execution of the control.