The CEO of your company recently met with the external auditors to discuss the scope of the year's audit. The auditors suggested that they conduct an integrated audit. The CEO has asked you, the accountant, to make a presentation at the next board of directors meeting that includes the following:

Give a definition of auditing.

Explain the purposes and reasons for public accounting firms to perform an integrated audit. Address the Sarbanes-Oxley Act (SOX).

Explain corporate governance and its relation to integrated audits.

Cite an example of a recent failure in corporate governance.

Find an article in which the actions that the public perceived as necessary to improve the quality of corporate governance are discussed; list the actions requested according to the article.

Requirement

7 to 10 slides

Objectives

Understand the practical need for internal and external auditing

Understand the risks that exist in both the business and auditing environment and a problem-solving methodology for assessing risks.