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 ...

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. As a business owner, conducting year-end financial audits is more than a ...

An AICPA committee leader testified last week at the public hearing by the Department of Labor’s ERISA Advisory Council, “Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process.

Credit losses represent a significant area of focus in financial statement audits. As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating ...

In its June 23, 2025, memorandum (M-25-30: "Ensuring Accountability: How We Oversee, Audit, and Improve "), OMB director Russell Vought introduces a "strategic reset" to shift audits from procedural ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

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 ...