Discover what auditing evidence is and learn its characteristics. See examples of how auditing evidence ensures financial ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

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 Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

An audit of Millcreek Township's 2023 finances revealed accounting errors including improperly recorded fund transfers. The township's trial balance was also found to be incorrect due to issues with ...

This paper reports an empirical study of 281 errors requiring financial statement adjustments on 152 audits. It reports, among other things, the audit areas in which the errors occurred, the audit ...

Shell has backed its financial statements for 2023 and 2024 after its auditor Ernst & Young informed it that it had not met U.S. auditor independence rules during the period. The British energy giant ...

Cleveland State Community College has issued a statement in response to a Tennessee Comptroller of the Treasury financial audit that determined the college needed to take extra steps to improve ...