The aim of the risk assessment auditing standards was to improve the quality and effectiveness of audits by substantially changing audit practice. Statements on Auditing Standards nos. 104–111 provide ...

Generally accepted auditing standards (GAAS) require the auditor to identify and assess risks of material misstatement (AU-C §315, Understanding the Entity and Its Environment and Assessing the Risks ...

Federal financial modernization has reached an inflection point in which traditional approaches to audit preparation are no ...

An auditor must make key decisions regarding what controls to trust, what controls to inspect and what weight to place on all the tests associated with auditing the financial practices of a company.

Internal auditors are traditionally defined as in-house accountants who conduct regular and continuous examination of financial records and internal controls. Business risk refers to the probability ...

The vast majority of professional auditors have expressed concern that AI tools, while helpful, risk undermining professional ...

AI-enabled fraud has become so sophisticated more than one-third of senior internal audit leaders aren't even sure whether or ...

CARSON CITY -- A scathing legislative audit released Friday found the state Division of Parole and Probation does not properly monitor released sex offenders and has failed in many cases to secure ...

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 ...