All publicly traded companies must annually disclose their financial performance to the public: GAAP audits ensure that these disclosures are valid. Every year, independent accountants review a ...

Small business owners sometimes rely on performance audits to ascertain the effectiveness of their companies. To identify unprofitable practices, the performance audit might analyze the company as a ...

Getting your Trinity Audio player ready... I spent more than an hour with PricewaterhouseCoopers chairman Dennis Nally on Thursday, and I’m still trying to understand what he said. This may be ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

According to the Definition of Internal Auditing in The Institute of Internal Auditors (IIA) International Professional Practices Framework (IPPF), internal auditing is an independent, objective ...

Specialized programs that perform a variety of audit functions, such as sampling databases and generating confirmation letters to customers and vendors. It can ...

To bolster the risk assessment process and improve overall audit quality, the AICPA Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 145, Understanding the Entity and ...

A record of transactions in an information system that provides verification of the activity of the system. The simplest audit trail is the transaction itself. If a person's salary is increased, the ...

Bob Dohrer, the global leader of quality and risk for RSM, comments on the current trends and the future of the audit profession IN THE HISTORY of the audit profession there have been shifts in how ...