An AICPA committee leader testified last week at the public hearing by the Department of Labor’s ERISA Advisory Council, “Beyond Plan Audit Compliance: Improving the Financial Statement Audit Process.

The Covid-19 pandemic has forced companies to make significant changes to their internal audit processes and how they prepare for external auditors to review their financial statements. A recent ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...

Sean Manning is CEO and Founder of Payroll Vault Franchising LLC, as well as a CPA and Thought Leader in the Financial Field. As a business owner, conducting year-end financial audits is more than a ...

Across many institutions today, the rise in fraud and financial misconduct has become deeply troubling. From corporate organisations to government ...

Credit losses represent a significant area of focus in financial statement audits. As economic conditions fluctuate and accounting standards evolve, auditors face increasing challenges in evaluating ...

In its June 23, 2025, memorandum (M-25-30: "Ensuring Accountability: How We Oversee, Audit, and Improve "), OMB director Russell Vought introduces a "strategic reset" to shift audits from procedural ...

Well, now you are in it. Something went wrong, and your auditor is breathing down your neck. That's not good. There are a number of reasons why this could happen, so let’s break down some potential ...

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.

An IRS audit is carried out to confirm that the details reported on a tax return are accurate.

The Securities & Exchange Commission, investors and your business partners will regularly seek an audit of your records to determine if they are an accurate measure of your holdings and financial ...