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Auditing/Questions Answered by Expert Don Sadler
| Subject | Date Asked |
| Audit opinion | 3/21/2010 |
| Q: Hope you can assist me on this audit issue, Let's say if you have finished the entire audit process ... A: Stephanie, Since my profile is clear about me helping with internal audit questions, I assume you ... | |
| Need advice on how to transition from an IT career to IT Audit | 8/1/2009 |
| Q: I have worked as a network engineer for the past 15 years doing operations, implementation and ... A: I believe you underestimate the value you would bring to any audit shop. In almost every audit ... | |
| Breaking into the field of IT Auditing | 7/24/2009 |
| Q: I don't have an IT background nor have I ever worked in IT, but I have passed the December 2008 CISA ... A: Karl, You have a made a good choice. Both PCI and HIPAA will be hot for a long time; especially ... | |
| QUERY ABOUT CFE..Pls Guide, Thanx | 7/20/2009 |
| Q: Its nice to see your valuable advice to all. Pls provide me some guidance also. I have a Bachelors ... A: Patel, the CFE is a good certification although I have never seen a person have ONLY this ... | |
| de minimis | 7/9/2009 |
| Q: how do you calculate de minimis? A: ‘de minimis’ is a term used to refer to occasional benefits an employee receives that are ... | |
| Advanced Degree VS Certification | 6/28/2009 |
| Q: I just graduated from college and couldn’t find a job in this tough economic time. The job market ... A: Yes, I would go for the MBA AND for the CPA. The CPA is the best of all certifications... not that ... | |
| IT Audit Career | 5/29/2009 |
| Q: I have worked in IT for 12 years on and off as a contractor due to the bad job market for IT Pros. I ... A: I have had the pleasure of mentoring several experienced IT people as they mad the transition to IT ... | |
| Separation of Duties | 4/29/2009 |
| Q: I work for a non-profit organization in New York. What is the auditing practice as it relates to ... A: The concept of separation of duties is that of an internal control designed to ensure that no single ... | |
| career change? | 8/4/2008 |
| Q: Don, I read some of your previous answers and am very glad to have found this site. I graduated ... A: Sophia, Short answer: Yes, AND a CPA is not required for a successful & satisfying audit career. ... | |
| Career question | 7/24/2008 |
| Q: I graduated in 2001 majoring in Finance and Accounting. Since then, my work environment has not ... A: Congratulations on your interest in being an auditor. There is no question about the CPA ... | |
| form SS-8 | 7/9/2008 |
| Q: My husband is an actual employee (according to the IRS) but was treated as a sub contractor for 1 ... A: As it says in my profile, I am not a tax expert so if you accept that as a caveat, here is my ... | |
| Audit danger? | 6/15/2008 |
| Q: I heard that the works of an auditor comes with danger including being threaten and even murdered to ... A: As an auditor you often have an adversarial with the people you are auditing. In some organizations, ... | |
| Career related questions | 6/14/2008 |
| Q: What are the career opportunities to gain for being an auditor? Is the income good? How significant ... A: CPA is the best certification you can obtain. Each industry has certification particular to that ... | |
| Internal Audit | 5/29/2008 |
| Q: I received a email from my director to follow up on a request from an internal auditor. Prior to ... A: I understand your dilemma and am glad you asked for advice. First, unless directed otherwise by ... | |
| Accounting error from previous year | 3/9/2008 |
| Q: as this is not the expertise area in which I should be; however, if you can help, I'd appreciate it. ... A: I am not an accounting expert so, with that caveat, I will pass on what my CPA friend told me. ... | |
| 314 audits | 2/29/2008 |
| Q: I'm reading job functions for a staff accountant position at a fortune 500 realty company and have a ... A: You are correct in assuming that NOI means Net Operating Income. A 314 audit is conducted pursuant ... | |
| timming and lading | 2/7/2008 |
| Q: What is timming and lading in auditing A: "Lading" refers to a cargo load [most often used in "Bill of Lading"]. "Timming" is new to me but ... | |
| General IT Audit Related questions | 1/23/2008 |
| Q: I am a project manager and new to the auditing world. I have few basic questions and would really ... A: Sorry to be so slow in responding but I was out of the country. 1. The audit committee of ... | |
| FINANCE DIRECTOR | 1/17/2008 |
| Q: We have a church with a governing board. Our church has a daycare with a daycare board. The finance ... A: First I will qualify my response by telling you I am not that familiar with church business so I ... | |
| Personal Audit | 1/11/2008 |
| Q: I built a new home in 2006, claimed the sales tax on the new home and am now being audited for than ... A: I am neither a tax nor IRS expert but in the interest of trying to offer you some guidance, I will ... | |
| How to carry out auditor's suggestion | 12/27/2007 |
| Q: Background: I am Chairman of the Town Board of Finance in Ct.. This is an elected position but is ... A: First, I am sure you realize that your auditors probably know specifically what internal controls ... | |
| non-profit issue | 12/21/2007 |
| Q: Not sure if you can answer this question but I will try anyway. Do Non-Profit organizations have to ... A: Paul, I don't know much about nonprofits however, I will offer the following for your ... | |
| financial reporting | 12/14/2007 |
| Q: When a publicly traded company issues it's financials or announces profits, they usually announce ... A: It could ean any of these depending on centext. You will hardly ever see a statement such as ... | |
| receivables | 12/12/2007 |
| Q: In the audit of receivables, existence is generally the primary objective, correct? I was recently ... A: The primary objective of testing receivables is to validate the existence and accuracy to ensure ... | |
| CPA Certificate | 12/4/2007 |
| Q: I want to ask a Question about the CPA Certificate 1- If I Got the CPA it will be more easy to get ... A: Moheb, I will try to answer your questions as I understand them. 1- If I Got the CPA it will be ... | |
| Business audits | 11/13/2007 |
| Q: I am a member of a volunteer fire company (INC.). I was hired by the company to take care of the ... A: This is more an issue of a “perceived” conflict of interest than an “actual” conflict of interest. ... | |
| sales tax audit | 11/3/2007 |
| Q: If my audit is from 2003 - 2004 can they request informtation and documentation from 2001 and 2002? ... A: Elizabeth, Unfortunately, the auditors can ask for anything. However, you have a valid point in ... | |
| auditing problem | 11/1/2007 |
| Q: i am a new business owner in construction, last month i got a letter that i have to set up an ... A: Anna, I don’t know the particulars of your situation but I can give you generic advice regarding ... | |
| purchasing for an LLC | 10/19/2007 |
| Q: Do I need to create a separate, business bank account in order to make purchases for my LLC that I ... A: It is not absolutely necessary so long as you keep very accurate and detailed records to support ... | |
| 2006 taxes | 10/12/2007 |
| Q: Nothing like waiting until the VERY last minute! Had an extension...due Monday, I have some very ... A: Not being a tax person, I can only speak from a lay perspective and I know our pain as I, too, have ... | |
| FRAUD WITH RESPECT TO AS5 | 8/16/2007 |
| Q: HOW DO WE DETERMINE THE SCOPE OF A FRAUD WITH RESPECT TO CASH DISBURSEMENT, FRAUD EXPENSE ... A: This is not a specialty of mine and I almost did not respond. However, I can offer some thoughts ... | |
| sales tax??? | 7/25/2007 |
| Q: We are sorry, but JT Gonzales wasn't able to answer yourhi, have a sales tax audit question im in ... A: Steve, sorry for delayed response... I was not aware of the follow up question. Who can assess the ... | |
| sales tax??? | 7/24/2007 |
| Q: We are sorry, but JT Gonzales wasn't able to answer yourhi, have a sales tax audit question im in ... A: If understand correctly, you have been contacted by the Illinois Sales Tax agency (whatever their ... | |
| Creating an Audit Plan | 12/26/2006 |
| Q: I was recently asked to create a work plan for audits in my department. I work in a department that ... A: When you have a number of entities, processes, or areas to audit, these are collectively referred ... | |
| sales tax audit | 9/21/2006 |
| Q: Don: i am a small business dog grooming service i am being audited for sales tax/ thay are calling ... A: Karen, First, my apologies for being so long in responding to your question. I have been gone and ... | |
| Changing of External Auditors | 9/19/2006 |
| Q: I couldn't find my previous question, thus I am resending it. - Is it uncommon for companies to ... A: This is a good question and reflects a somewhat controversial topic in the industry. It is a fact ... | |
| I.R.S. records | 9/5/2006 |
| Q: Does the I.R.S. have records of income reported 30 yrs. ago? A: I don't have a true answer for this except to say that such records may not be actively maintained ... | |
| Financial terminology | 7/31/2006 |
| Q: I, a Japanese, often come across in consolidated balance sheets the following two expressions: ... A: Often one company (Company A) will acquire the majority of stock of a public corporation (Company B) ... | |
| capital gains & losses | 7/18/2006 |
| Q: My domestic partner became psychologically disabled in 2001 (he's been on social security disability ... A: First, I am not a tax specialist at all so take my advice with a grain of salt. My advice comes ... | |
| Auditing | 7/18/2006 |
| Q: who is a lead auditor and what is a management representative A: These are both terms used when referring to different parties in an audit. While these are general ... | |
| car insurance | 7/11/2006 |
| Q: how long do you keep car insurance policies and premiums in case you are audited, or any other bill ... A: Although I am NOT a tax expert, I can provide ytou with some information on this that I obtained ... | |
| urgent | 6/28/2006 |
| Q: what is the mechanism used in us to check for assets and verify same in relation to child ... A: Information brokers are typically used to find these types of assets. These are the same ... | |
| Internal auditor | 6/2/2006 |
| Q: I have just graduated with a master degree in Economics with a concentration in Finance. I'd like ... A: I would do a couple of things: 1) Visit the Institute of Internal Auditors at ... | |
| JE/audit help needed | 5/30/2006 |
| Q: I have a complex error in 2005 that I am hoping you can help me with. In December 2005, there were ... A: I hope this helps… accounting is outside my expertise and I nearly refused your question but it ... | |
| medical | 5/4/2006 |
| Q: I have been selected for audit of my 2004 taxes. One of the things they are requesting is a letter ... A: I cannot imagine why they would ask for such a thing. You have every right to question they (or any ... | |
| Auditing | 5/1/2006 |
| Q: What's the relationship between Internal and External audit A: External and Internal Auditing - Differences There are several differences between internal and ... | |
| Audit/fraud | 5/1/2006 |
| Q: Don, Are there three methods that audit clients can use to put a favorable “spin” on their reported ... A: Zagui, You cannot change the numbers but you may be able to influence how they are interpreted. ... | |
| Requires Audits | 4/12/2006 |
| Q: Other than publicly traded companies, are there specific types of businesses/companies, such as S ... A: Only publicly have the SEC requirement of an independent audit (external audit) of the financial ... | |
| Accounting / Auditing | 10/9/2005 |
| Q: i need you opinion regarding the following If some one has the access to the company's income ... A: The financial statements (Income Statement & Balance Sheet) are the primary reports. You cannot ... | |
| Business Value | 9/23/2005 |
| Q: Greetings. I was hoping you could provide a 'rule-of-thumb' that would help me determine the ... A: Larry, Business valuation is not my field of expertise. However, so long as you accept that this ... | |
| Texas sales Tax Audit | 9/13/2005 |
| Q: What exactly are they needing from me. This is a one man wholesale company and records have not been ... A: Although you did not say so, I presume you have been contacted by the Texas Sales Tax agency ... | |
| Electronic auditing | 7/13/2005 |
| Q: I hope you can help me. I am looking for information on electronic auditing of software which ... A: Ommera, I wanted to also refer you to this Google search that may give you some useful leads. ... | |
| Peer review v. quality control | 7/3/2005 |
| Q: Are these two terms the same thing? Is the term quality contorl review different than a peer review? ... A: They are the same in that they both have the goal of improving the quality of the work product. The ... | |
| company info | 6/26/2005 |
| Q: I'm not sure if you can help me with this issue but I will try anyway. I was wondering if you know ... A: Paul, I'm not sure I fully understand your question... or what your end goal is but two things come ... | |
| Sarbanes oxley | 6/26/2005 |
| Q: Can u please tell me what is sarbanes oxley in general terms. I have researched this on net but ... A: This law was passed in response to the corporate corruption by a number of major corporations - ... | |
| very general query | 6/22/2005 |
| Q: i didn't see a category i thought would fit my question, but i think you will have the information i ... A: Sonya, Somthing else you might be interested in regarding record keeping. ... | |
| IRS personal income tax audit | 4/10/2005 |
| Q: would you please give me some recommendations to deal with an IRS audit (personal income taxes)? ... A: Sorry for the delay but I was out of town and out of touch. I am not a tax person but I can give ... | |
| questions | 2/25/2005 |
| Q: I'll be conducting internal audit on my company's production department. What are the things that I ... A: Auditing a production department can take many different directions. The direction will determine ... | |
| HELP! | 12/14/2004 |
| Q: Someone Someone wrote my signature on a bill for $140.00 at a place i never been in my life. i ... A: Charlie, I presume you are talking about a credit card purchase. You certainly have every right to ... | |
| auditing | 11/9/2004 |
| Q: Maybe we misunderstood each other with my last question. I am researching SAS NO. 32 and am having ... A: Here is a link specific to SAS 32 http://www.fasb.org/st/summary/stsum32.shtml Here are a couple of ... | |
| auditing vs referees | 5/17/2004 |
| Q: Does an auditor have any form of continued trainingonce they have passed all professional exams? and ... A: Virtually every professional certification (not just auditing) requires CPE - continual professional ... | |
| Audit Plan | 5/2/2004 |
| Q: I am trying to draft an audit plan for a large brewery in New Zealand (for a University case study). ... A: I will sharte some resources with you. You will likely find what you seek in the sites: Auditnet ... | |
| Audit confirmation process | 3/26/2004 |
| Q: If the customer did not give any information, and asked not to mail them documentation, what would ... A: I presume you are talking about verifying accounts receivable. If that is the case, other than ... | |
| hash totals | 4/16/2003 |
| Q: Would a hash total in a payroll application be used to count department number or number of ... A: A hash total is an arbitrary total that has no value or meaning outside the context in which it was ... | |
| External Auditing | 3/1/2003 |
| Q: i know your expertise says that you are an expert on internal auditing but i would like to ask a ... A: It's a short question but not necessarily simple. Two part answer: 1. Only companies that are ... | |
| Retail Auditor | 1/25/2003 |
| Q: I was asked if I would be interested in a position as a Retail Auditor for a Marketing Research ... A: Robert, first I want to congratulate you on being perceptive enough to recognize that context makes ... | |
| Attracting the IRS | 12/17/2002 |
| Q: Are there any particular things that will red flag your business EIN and or personal SSN to the IRS? ... A: First of all, I commend you on your honesty. Second, who among us IS totally honest with our taxes ... | |
| Governance | 12/13/2002 |
| Q: To whom should the director of Internal Auditing report? The CFO, CIO, or who? In our company, we ... A: The major issue here is one of independence. Ideally, the audit group should report to either the ... | |
Auditing
Don Sadler
Top Expert on this page
Expertise
I can answer regarding Internal Auditing - especially operational audits, audit management, and how to revitalize a dysfunctional audit department. Also give advice to "auditees" on how to deal with auditors.
I DO NOT ANSWER HOMEWORK OR CLASS PROJECT QUESTIONS. For those answers, I suggest you scan previously asked questions and search on your favorite search engine.
I ALSO DO NOT ANSWER TAX QUESTIONS AS THIS IS NOT WITHIN MY EXPERTISE.
NOTE: I am not an accounting expert although i will try to help if I can... ask at your own risk.
Experience
I have worked in the public and private business management arena with experience in OMB, Resource Management, Internal Auditing and consulting. I am a former President of the Inland Empire Chapter Institute of Internal Auditors, previously held Director positions in the Orange County Information Systems Audit and Control Association and the Northern Telecom International User's Association. I am a Certified Fraud Examiner and a Certified Information Systems Auditor.
Organizations
Institute of Internal Auditors, Association of Certified Fraud Examiners, and Information Systems Audit and Control Association (ISACA)
Education/Credentials
MBA, CISA, CFE
Founder and Principal of Applied INTEGRITY Management Consulting Group
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