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 ...

In the wake of the International Institute of Auditors recent proclamation of a revised and controversial Three Lines of Defense Model, I thought it would be helpful to underscore the importance of ...

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 ...

Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

If, through an internal financial audit, issues are uncovered or the information a company is able to provide is not the specific, higher-level information needed, it will delay the audit process, ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...