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 ...

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 ...

Many people are obsessed with IRS audit risk. Audit risk is worrisome, and opinions vary widely. Even worse, there are many old wives tales about what does and doesn’t trigger an audit. But what about ...

Around the world, audit, risk and accounting teams are grappling with rising geopolitical and macroeconomic uncertainty.

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 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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

LOS ANGELES--(BUSINESS WIRE)--AuditBoard, the leading cloud-based platform transforming audit, risk, compliance, and ESG management, today announced the results of a new research report, 2025 Focus on ...

Do You Feel Lucky? No one wants to be audited. And yet as a tax lawyer advising clients about tax issues, I'm required by Treasury Department rules to assume every return will be audited. In truth, ...

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.