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 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 Committee of Sponsoring Organizations of the Treadway Commission released a new paper Wednesday on uniting COSO’s enterprise risk management framework with “agile” practices in internal auditing ...

The AICPA Auditing Standards Board’s (ASB’s) plans to finalize a new risk assessment standard at its August meeting should be welcome news for many practitioners. Risk assessment is a fundamental ...

Monique Danao is a highly experienced journalist, editor, and copywriter with an extensive background in B2B SaaS technology. Her work has been published in Forbes Advisor, Decential, Canva, 99Designs ...

An internal audit helps a company ensure it has the proper controls, governance and risk management processes in place, according to the Institute of Internal Auditors. By nature, it's an independent ...

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 ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. This article is more than 3 years old. The internal audit (IA) ...

Nobody really likes being audited, but it's an important function to ensure the practices and policies of a company and/or individual are above board. And, as with all jobs, someone's gotta do it.