When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

An audit engagement is a critical exercise for stakeholders such as employees, owners, investors and lenders. For the sake of efficiency, auditors must focus on standard audit tasks; they can't focus ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

As a business owner, you know the value of audited financial statements. Audits provide essential credibility to stakeholders, both internal and external, regarding the accuracy and reliability of ...

Discover the key differences between compiled and certified financial statements, including auditing, reliability, and investor trustworthiness.

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

The PCAOB in 2007 raised concerns about accounting firms meeting the brainstorming mandates of SAS no. 99, which requires auditors to brainstorm to determine possible fraud risks, and SAS no. 109, ...