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 ...

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 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 ...

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 ...

The widespread use of information technology (IT) can introduce various risks that affect financial reporting and the audit process. To assist auditors in identifying and addressing these risks, the ...

Is there a case for audit reports in India to be made shorter without compromising on conveying what they have to say? The ...

I often receive calls from local nonprofit organizations inquiring about having a financial statement audit. The first thing I ask is “Why do you want to have an audit?” The responses vary from, “We ...

This paper reports an empirical study of 281 errors requiring financial statement adjustments on 152 audits. It reports, among other things, the audit areas in which the errors occurred, the audit ...

WASHINGTON (Army News Service, Aug. 29, 2012) -- The Army is gearing up for an audit of its "Statement of Budgetary Resources" by 2014 and an audit of all financial statements by 2017. "Gearing up for ...

Cleveland State Community College must address significant issues in its financial reporting processes, according to an audit ...