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 ...

Eight standards rolled out in 2006 by the Auditing Standards Board are sparking a cultural shift for auditors. The standards—Statement on Auditing Standards nos. 104–111—are designed to enhance ...

Reoccurring PCAOB findings with an increasing deficiency rate, in 2020, 2021, and 2022, included revenue, business combinations, and inventory. 2 Critical audit matters (CAMs) and audit committee ...

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 ...