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 American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...

The American Institute of CPAs released a new standard to help auditors assess the risks of material misstatement. The new Statement on Auditing Standards (SAS) No. 145, aims to improve the ...

Read more: The IRS Is More Likely To Consider You For Audit If You Make These 12 Mistakes ...

Risks in accounting and audit firms are most often described by the audit risk model. This model describes how the responsibilities of management and auditors combine to determine the risk of the ...

The IRS pays close attention to certain business credits. Without proper documentation, taking this one could put you at greater audit risk.

The annual audit plan is typically out-of-date even before it is approved by the audit committee. It’s quite a few years since I first started talking about “auditing at the speed of risk” (since at ...

DLA is pleased to announce that Kelley C. Kortman, CPA, has joined the firm as a Managing Director in the Internal Audit & Risk Advisory group. Based in the New York metropolitan area, Kelley brings ...

The only thing people hate more than filing their taxes might just be an IRS Audit. Learning of a large tax bill would probably take third place. In reality, the risk of being audited is quite low.