The new audit risk standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify ...

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 ...

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 ...

Since 1995, the Department of Defense’s financial management has been on the Government Accountability Office’s High Risk List. Thousands of audit findings from DOD’s department-wide financial ...

A recent study demonstrates that the use of artificial intelligence is significantly improving the quality and efficiency of financial statement audits, as well as displacing audit professionals. A ...

Authentication controls, such as passwords and restricted access rights, are a primary layer of protection between an entity’s data and bad actors. Weaknesses in these controls can leave systems ...