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 ...

How auditors assess and respond to risks of material misstatement in the financial statements, including the risk of fraud, is a critical component of audit quality. New research supported by the ...

The Auditing Standards Board of the American Institute of CPAs has issued a suite of eight new standards on risk assessment that should significantly improve the quality of audits of private companies ...

The Public Company Accounting Oversight Board has decided to re-propose seven auditing standards and amendments that would change the requirements for assessing audit risks. The PCAOB had initially ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...

Accounting and auditing procedures are the steps that accountants and auditors follow when performing their respective tasks. Although accounting is about recording business transactions into ...