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 ...

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 ...

The Public Company Accounting Oversight Board issued a report Thursday warning about significant deficiencies it is seeing in auditing firms’ assessment of risks in their clients. Processing Content ...

The Public Company Accounting Oversight Board has adopted a set of eight auditing standards related to the auditor s assessment of risk in an audit and response to that risk. Processing Content The ...

Thoropass today released its 2026 State of Audit and Compliance Report, revealing that AI adoption has rapidly become the most significant new source of IT security compliance risk. Almost 7 in 10 ...

Risk-based audit needs a reset to enterprise risk and value auditing. When I became a chief audit executive (CAE) for the first time in 1990, I determined a risk-based approach was inadequate. A ...

An auditor must make key decisions regarding what controls to trust, what controls to inspect and what weight to place on all the tests associated with auditing the financial practices of a company.

The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially ...

Virginia Credit Union and its Member One division announced last week that it has named two executives to oversee risk management and the Chesterfield County-based credit union’s internal audit ...