Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

Financial statement audits are a routine part of closing your financial books. Audits help to ensure the accuracy of the accounting data used to compile the statements as well as the overall ...

An audit is a systematic process of objectively obtaining and evaluating the accounts or financial records of a governmental, business, or other entity. Whereas some businesses rely on audits ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

The introduction of Statement on Auditing Standards (SAS) No. 145, "Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement" (SAS 145) last December marked a ...

WisDOT made the error when the department follwed a previous audit bureau recommendation, but overlooked other details in the ...

Discover how negative assurance works in auditing, confirming accuracy without contrary evidence, and why it's vital when ...

This July, Shell informed the London Stock Exchange that EY reported issues with compliance regarding audit partner rotation.