Methodology and Tools

ACS Group professionals author the PCAOB Auditing Standard 5 guidance, audit programs and internal control knowledge content published by Thompson Reuter. This guidance is updated By ACS Group professionals annually and is used by more than 6,000 external audit firms in the United States for auditing internal controls over external financial reporting.

Our Process and Control Knowledge (PACK) content has been licensed to Thomson Reuters and is available through the purchase of PPC’s SMART Practice Aids: Internal Control. This tool helps auditors save time, whether or not they test controls, by using this practical approach designed for any size entity, small or large.

This comprehensive, integrated internal control evaluation and analysis tool guides the auditor through a top-down, risk-based approach for efficiently and effectively evaluating internal control over financial reporting. With this tool, auditors can easily:

  • Obtain and document their understanding of internal control
  • Evaluate system design
  • Prepare internal control test plan
  • Assess control risk

Other Tools Available for Training and Consulting

ACS group has retained the right use our methodology, knowledge content, and tools for training and consulting purposes.

Based on 12 years’ experience developing, implementing, and maintaining the requirements of SOX compliance for companies of all sizes and in a wide variety of industries we have developed many other tools that supplement the successful implementation and maintenance of SOX compliance, including:

  • Scope & Planning Templates
  • Accounting Policies and Procedures
  • Anti-Fraud Programs
  • ERP specific application control knowledge content
  • Industry specific process and control knowledge content
  • Segregation of duties evaluation templates
  • Sample process documentation (Flowchart and Narrative Format)
  • Deficiency evaluation documentation templates
  • COSO 13 implementation and evaluation templates
  • Control testing templates (assist with documenting management review controls and considering completeness and accuracy of reports used in the performance of controls)

Contact ACS Group to learn more about methodology and tools available help enhance your audit quality