Auditor laptop stolen, confidential data included

The auditor for is Ernst & Young, and one of their staff working on the audit had their laptop stolen from their car, compromising the credit card data of approximately 243,000 customers. These things will happen, but what I don’t understand is whether they’re just assuming whoever stole the laptop is going to beContinue reading “Auditor laptop stolen, confidential data included”

Mapping out my clients after a year in public practice

I have been playing around with Windows Live Local lately, Microsoft’s competition for Google Maps. I decided to map all the clients where I’ve been in the last year with my firm. For the blue ones I just had to search for the business name, but the red ones represent clients that I had toContinue reading “Mapping out my clients after a year in public practice”

Materiality in auditing

Materiality is a concept in auditing that attempts to set a dollar value guideline for the scope of evidence testing at the substantive level, analytical procedures, and to a lesser extent, controls testing. According to Krupo: “Materiality is the smallest misstatement of a company’s finances that would cause a person to change how they valueContinue reading “Materiality in auditing”