Calendar year 2023 audits will require auditors to follow revised risk assessment guidance. Changes to the concept of significant risk may impact how you perform risk assessment procedures and how you ...

One of internal audit's values is to tell management when the controls to manage risks and assure opportunities aren't working. Internal audit should have a plan for the work it will do, and by now we ...

The introduction of Statement on Auditing Standards (SAS) No. 145, "Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement" (SAS 145) last December marked a ...

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 ...

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 ...

Inherent risk is a concept that while fundamental to cybersecurity, has largely been disregarded by popular cybersecurity risk guidelines and standards and remains arcane to the vast majority of ...

In preparation for the audit of Canada’s anti-money laundering and terrorist financing regime by the Financial Action Task Force (FATF) in the fall of 2015, the Department of Finance and the Financial ...

Check out Taxmann's Audit of Financial Statements which is a comprehensive guide that assists auditors conducting financial statement audits, covering every step from auditor appointment to audit ...