As part of a financial audit, the auditor must assess the inherent risk associated with the revenue cycle and perform tests to determine it is relatively free of ...

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

SARBANES-OXLEY WILL MEAN BIG CHANGES FOR BOTH auditors and the companies they audit. The former now will be required to certify a company’s internal controls and will no longer be able to use certain ...

The cost is steep. Work that should take minutes stretches into hours, increasing the risk of transcription errors, draining team morale and leaving less time for analysis or client conversations. For ...

Check out Taxmann's Audit of Financial Statements which is a comprehensive guide that assists auditors conducting financial statement audits, covering every step from auditor appointment to audit ...