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 ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

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 ...

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 ...

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 ...

An accounting error led the Wisconsin Department of Transportation (WisDOT) to erroneously increase the value on paper of the ...

Business decisions are often driven by data, so the accuracy and reliability of financial statements are paramount. One misstep in financial reporting can have far-reaching consequences, eroding ...

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 ...

Discover the role of independent auditors in protecting investors, enhancing company processes, and ensuring accurate ...