Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...

Most companies, big and small, are subject to an audit at some point. Auditors can focus on one or more areas, such as your financial statements, compliance, tax information or business operations.

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 ...

Forbes contributors publish independent expert analyses and insights. I am the Jenkins Professor of Accounting at NC State University. Audit partners who issue adverse internal control opinions are ...

The sales and collections cycle in a business refers to the set of processes that begin when a customer purchases goods or services and ends when your business receives payment in full. As part of the ...

The Department of Veterans Affairs “continues to face significant challenges” in complying with the Federal Information Security Modernization Act—or FISMA—according to an audit released by the VA ...

When models attempt to get their way or become overly accommodating to the user, it can mean trouble for enterprises. That is why it’s essential that, in addition to performance evaluations, ...

Auditors who issue adverse opinions regarding a client's internal controls can find their careers derailed, according to a recent study. The study, released in March, found that firms are far more ...