The recent financial downturn and continuing economic global crises have caused some users of financial statements — investors, lenders or financial analysts — to question if auditors’ reports could ...

An accounting error led the Wisconsin Department of Transportation (WisDOT) to erroneously increase the value on paper of the ...

Financial statements are intended to present information about a business's financial performance and circumstances to interested parties so that financial decisions can be made on the basis of that ...

Discover the audit cycle process, from identification to management review, and learn how it ensures accurate financial ...

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 ...

Discover the key differences between compiled and certified financial statements, including auditing, reliability, and ...

Auditing the Defense Department full financial statement is required by law. Rather than focusing exclusively on doing whatever is necessary—including fast, temporary fixes—to get a passing grade from ...

A state audit noted errors in city of Vancouver’s 2024 financial statements. “Our audit identified deficiencies in the city’s internal controls that hindered its ability to produce accurate financial ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

The law says that all companies must produce an annual report, to keep shareholders up-to-date with how the company is performing. Information that it must contain includes: profit and loss account (P ...

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 ...

STATEMENT ON AUDITING STANDARDS (SAS) no. 96, Audit Documentation, marks the first big change in the requirements auditors must observe when documenting their audit work. It provides general guidance ...