An audit can be an unpleasant surprise, or it can be a welcome opportunity to get your organization's affairs in order. While some audits – such as those performed by the IRS – come as a surprise, ...

An internal auditor is a company employee hired to provide independent and objective evaluations of its financial and operational activities.

An external audit focuses on a company's performance and compliance, specifically in the areas of accounting and finance. Accounting records are commonly examined in an external audit to make sure no ...

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 ...

Opportunities, Architecture, and Challenges: A Systematic Review,” published in Account Audit, the authors argue that AI is expanding audit coverage and improving anomaly detection, while also ...

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 ...

In the November 2012 issue of EHS Today, I introduced the concept of the safety sweep audit as a supplemental tool for the detailed safety inspection mechanism commonly used in industry. The article ...

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 ...