Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

Financial statement audits are a routine part of closing your financial books. Audits help to ensure the accuracy of the accounting data used to compile the statements as well as the overall ...

An audit is a systematic process of objectively obtaining and evaluating the accounts or financial records of a governmental, business, or other entity. Whereas some businesses rely on audits ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

Although The U.S. Constitution stipulated that “a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time,” it took more than 200 years ...

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 ...

As of late December, the Public Company Accoun- ting Oversight Board had published on its Web site the results of some 173 inspections of audit firms.The purpose of this article is to attempt to ...