Most companies, big and small, are subject to an audit at some point. Auditors can focus on one or more areas, such as your financial statements, compliance, tax information or business operations.

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

The primary objective of an audit of the books is to validate the financial information management provides. Employees, owners and potential investors rest easier knowing that accounting professionals ...

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 ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

As such, organizations are making their vendors obtain System and Organization Controls (SOC) attestation reports, as mandated by SSAE 16 and SSAE 18. A SOC report is a verifiable auditing report ...

MUNCIE, Ind. − A state audit of Muncie government finances during 2022 cited a lack of internal controls in recordkeeping of city revenue and expenditures, including proceeds of federal and state ...