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 ...

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 ...

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 ...

A new standard on audit evidence issued Thursday by the AICPA Auditing Standards Board (ASB) modernizes private company auditing standards by recognizing the critical value technology and information ...

The International Valuation Standards Council has released a guide that aims to raise awareness of audit procedures among professional valuers in response to heightened scrutiny by regulators of ...

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 AICPA has issued additional guidance regarding the independent private-sector audit, or IPSA, which is required in some circumstances under the conflicts minerals rules. (Note that AICPA’s ...