An Empirical Analysis of Internal Control Weaknesses Under SAS No. 78: An Examination of State Audit Reports

While there has been a considerable amount of research regarding internal control over the past several years, scant empirical research has examined SAS No. 78\u27s integrated five-component depiction of internal control in a government setting. In particular, to our knowledge, no study has assessed the types or frequency of weaknesses under the SAS No. 78 framework using actual internal control system findings. In this study, we examine 32 state department and agency internal control reports to assess how well the theoretical framework captures actual system weaknesses, and to determine the relative distribution of weaknesses across components of the framework. Our results indicate that the five-component framework was able to effectively classify the 213 reported control weaknesses. Control activities had the highest proportion of identified weaknesses (i.e. around 30%) and monitoring the lowest proportion of weaknesses (i.e. around 10%)

Internal Control Components: Did COSO Get It Right?

Financial accounting frauds and the attention they bring are not new. Fortunately, neither are the accounting profession’s ongoing attempts to limit these types of fraud by encouraging strong systems of internal control. In October 1986, amid growing concerns about the extent of fraudulent financial reporting, the National Commission on Fraudulent Financial Reporting (the Treadway Commission) began an extensive study and evaluation of the integrity of the U.S. system of financial reporting. The Treadway Commission’s final report, issued in 1987, provided numerous recommendations for improving the financial reporting environment and auditing standards. In response, the Committee of Sponsoring Organizations (COSO) developed a comprehensive, integrated model of internal control to offer guidance for creating, adapting, and monitoring systems of controls. This integrated framework was later tailored to practitioners by the Auditing Standards Board (ASB) through SAS 78. While people are now more interested in internal control evaluations by corporations, auditors, and auditing standards-setters due to SAS 99, Consideration of Fraud in a Financial Statement Audit, and the Sarbanes-Oxley Act of 2002, relatively little factual data is available to confirm or deny the efficacy of the interrelated internal control components embraced by COSO and codified in the professional standards under SAS 78. To illuminate such data, the authors compiled an analysis of internal control weaknesses communicated by 32 Rhode Island state agencies using the framework mandated by SAS 78

Long-Term Outcomes of Early Adult 4-H Alumni

Very little has been published reporting on long-term outcomes experienced by young adults (aged 19 to 34 years old) who participated in 4-H youth development programs. We adopted Gambone et al.’s (2002) framework advancing three long-term outcomes for early adulthood: economic stability, health and well-being, and community involvement. With cross-sectional survey methods, we compared long-term impacts between 693 California 4-H young adult alumni and 373 young adults in a U.S. general population sample who had not participated in 4-H. The results demonstrated that 4-H alumni report more positive long-term outcomes than the U.S. general population sample. The study contributes to the dearth of research around long-term outcomes, may be useful for marketing and funding, and will help better understanding the public value of Extension

Clinical-Pathological Conference Hemoptysis and Abdominal Pain in a 74 Year Old Man

A 74 year old male was admitted to the hospital surgical service because of abdominal pain.

Ranchers Diverse in Their Drought Management Strategies

Farm Management, Livestock Production/Industries,

Exploring Halo Substructure with Giant Stars. XV. Discovery of a Connection between the Monoceros Ring and the Triangulum-Andromeda Overdensity?

Thanks to modern sky surveys, over twenty stellar streams and overdensity structures have been discovered in the halo of the Milky Way. In this paper, we present an analysis of spectroscopic observations of individual stars from one such structure, "A13", first identified as an overdensity using the M giant catalog from the Two Micron All-Sky Survey. Our spectroscopic observations show that stars identified with A13 have a velocity dispersion of $\lesssim$ 40 $\mathrm{km~s^{-1}}$, implying that it is a genuine coherent structure rather than a chance super-position of random halo stars. From its position on the sky, distance ($\sim$15~kpc heliocentric), and kinematical properties, A13 is likely to be an extension of another low Galactic latitude substructure -- the Galactic Anticenter Stellar Structure (also known as the Monoceros Ring) -- towards smaller Galactic longitude and farther distance. Furthermore, the kinematics of A13 also connect it with another structure in the southern Galactic hemisphere -- the Triangulum-Andromeda overdensity. We discuss these three connected structures within the context of a previously proposed scenario that one or all of these features originate from the disk of the Milky Way.Comment: 12 pages, 9 figures. Accepted for publication in Ap

Report of the panel on earth rotation and reference frames, section 7

Objectives and requirements for Earth rotation and reference frame studies in the 1990s are discussed. The objectives are to observe and understand interactions of air and water with the rotational dynamics of the Earth, the effects of the Earth's crust and mantle on the dynamics and excitation of Earth rotation variations over time scales of hours to centuries, and the effects of the Earth's core on the rotational dynamics and the excitation of Earth rotation variations over time scales of a year or longer. Another objective is to establish, refine and maintain terrestrial and celestrial reference frames. Requirements include improvements in observations and analysis, improvements in celestial and terrestrial reference frames and reference frame connections, and improved observations of crustal motion and mass redistribution on the Earth