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 ...

An auditor must make key decisions regarding what controls to trust, what controls to inspect and what weight to place on all the tests associated with auditing the financial practices of a company.

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 ...

Risk-based audit needs a reset to enterprise risk and value auditing. When I became a chief audit executive (CAE) for the first time in 1990, I determined a risk-based approach was inadequate. A ...

Data breaches – always critically important to those with responsibility for storing, transporting and protecting electronic information – have become an all-consuming topic of late. Stories about ...

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 ...

Internal auditors are traditionally defined as in-house accountants who conduct regular and continuous examination of financial records and internal controls. Business risk refers to the probability ...

AuditBoard — which makes cloud-based enterprise software for risk, audit and compliance work — has released AuditBoard RiskOversight, a new, integrated risk management solution. Processing Content ...

The increasing use of models that facilitate analysis and strategic decisioning has added additional risk to many organizations risk profile. Specifically, Financial Institutions are seeing increased ...

Many people are obsessed with IRS audit risk. Audit risk is worrisome, and opinions vary widely. Even worse, there are many old wives tales about what does and doesn’t trigger an audit. But what about ...

Tucson Unified School District classified as 'highest financial risk' by state audit, must cut $25 million by 2030 due to ...