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 ...
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 Auditing Standards Board recently issued eight new auditing standards, Nos. 104-111, collectively referred to as the risk assessment standards. The new standards will change many of the planning ...
The Public Company Accounting Oversight Board issued a report Thursday warning about significant deficiencies it is seeing in auditing firms’ assessment of risks in their clients. Processing Content ...
Protiviti's second edition of the IT Audit Benchmarking Survey analyzes some of the underlying IT audit trends and gaps evident in organizations today. In addition to data and analysis, the survey ...
Risk-based audit needs a reset to enterprise risk and value auditing. When I became a chief audit executive (CAE) for the first time in 1990, I determined a risk-based approach was inadequate. A ...
The IQ Working Group has defined a pragmatic risk-based approach to audit trail review, where it is only required for high impact GxP data. Audit trail review (ATR) is a mechanism to detect potential ...
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 ...
Key Takeaways Organizations often think about audits only when a certification deadline approaches or when an auditor sends a long list of document requests. At that point, teams begin searching for ...
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