When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

An analytical review in accounting is used by auditors to assess the reasonableness of account balances. Examples of analytical reviews of financial statements broadly include vertical and horizontal ...

THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

Please note: This item is from our archives and was published in 2020. It is provided for historical reference. The content may be out of date and links may no longer function. The new ...

The California Department of Tax and Fee Administration held its second interested parties meeting concerning the Department’s proposed revisions to its sales and use tax Audit Manual Chapter 13 ...

The AICPA has issued additional guidance regarding the independent private-sector audit, or IPSA, which is required in some circumstances under the conflicts minerals rules. (Note that AICPA’s ...

The American Institute of CPAs’ Auditing Standards Board has released a new standard for audit evidence for private companies, updating the existing standards in recognition of the increasing role ...

Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.