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 ...

The American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...

The American Institute of CPAs has developed an online Audit Risk Assessment Tool to focus in on the potential risk of material misstatements in a financial statement ...

Risks in accounting and audit firms are most often described by the audit risk model. This model describes how the responsibilities of management and auditors combine to determine the risk of the ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

At the end of May 1942, the ships of Task Force 17 and Task Force 16 steamed toward their rendezvous near the remote island of Midway. Rallying the U.S. Navy’s last remaining aircraft carriers, Hornet ...

Nobody really likes being audited, but it's an important function to ensure the practices and policies of a company and/or individual are above board. And, as with all jobs, someone's gotta do it.

April 15 was Tax Day. If you filed this year, you may be worried about whether you submitted all your materials correctly or put yourself at risk of being audited. An Internal Revenue Service (IRS) ...

The odds of being selected for an audit are pretty small. Some behaviors, however, can boost your chances. Sometimes, a few adjustments are all you need to avoid being in the audit pile. You've seen ...