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 ...

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 ...

This July, Shell informed the London Stock Exchange that EY reported issues with compliance regarding audit partner rotation.

A hand-receipt holder signs off on an inaccurate physical inventory of his property books. A supply technician authorizes property movement without authority. A property book office cannot produce ...