Most companies, big and small, are subject to an audit at some point. Auditors can focus on one or more areas, such as your financial statements, compliance, tax information or business operations.

Small businesses hold a wide variety of assets, which make up a large portion of a new company's balance sheet. During an audit, the audit team is required to verify management's assertion that these ...

Security needs to be an ongoing concern. You should not fall into complacency once your physical IT security plan and procedures are documented and your employees have been trained. Maintaining ...

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 ...

Substantive audit procedures are the activities that auditors perform to assess the risk of material misstatements or instances of fraud at the assertion level. As opposed to the testing of controls, ...

A lack of “healthy paranoia” can be one of the biggest problems in approaching employee benefit plan (EBP) audits, said Bertha Minnihan, CPA. An EBP audit at first may seem straightforward and simple, ...

IN BRIEF Audit planning is one of the most complex but critical stages of the audit process. This leads auditors to look for ...