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 ...

Auditors use different audit procedures to test management's assertions about a company's financial statements. The techniques employed depend upon the strength of the evidence desired, requirements ...

The report is the culmination of an internal audit, where the internal auditors describe what they found, provide evidence of the issues that were detected, and the corrective action that they ...

The aim of the risk assessment auditing standards was to improve the quality and effectiveness of audits by substantially changing audit practice. Statements on Auditing Standards nos. 104–111 provide ...

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 ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

The recently enacted Bipartisan Budget Act of 2015 repeals the current Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and Electing Large Partnership (ELP) partnership audit regimes and ...