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 ...

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 ...

Generally accepted auditing standards (GAAS) require the auditor to identify and assess risks of material misstatement (AU-C §315, Understanding the Entity and Its Environment and Assessing the Risks ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Yarilet Perez is an experienced multimedia ...

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 ...

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 ...

When you conduct an internal audit of your small business, you must set specific, measurable goals for that audit. You should be able to use the results of your internal audit to make improvements in ...

The Case Western Reserve’s Board of Trustees and management place assets at risk to achieve established priorities and goals. A key function of the Office of Internal Audit Services is to understand, ...