A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

While audits are not designed to root out every instance of fraud, auditors have a responsibility to detect material misstatements in the company's financial ...

The Institute of Internal Auditors' new practice guide for internal auditing shares some good insights, but falls short in a few areas. The Institute of Internal Auditors (IIA) has published a new ...

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 ...

The following procedure outlines the process for the Classification division of Human Resources to evaluate positions. If the job description no longer applies to the job duties being performed, a job ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

Technology has wrought many a change in your average accounting firm — completely revamping tax prep and bookkeeping — but it has had much less impact on the audit function over the past two decades.