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 ...

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 ...

Contractors face a higher risk of IRS scrutiny. Organizing records, analyzing discrepancies, and professional representation are key to a favorable outcome.

The problems began the year after the audit report was issued. The audit had gone well, and, like previous years, an unmodified opinion was issued. Armed with a clean opinion, the client attracted a ...

Process validations are crucial when assessing and mitigating risks associated with manufactured medical devices. Basic steps can also be taken to improve problem-solving and root cause analysis. To ...