Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

Discover essential risk assessment methods, including qualitative and quantitative analyses, to make informed investment ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...

The American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...

Risks in accounting and audit firms are most often described by the audit risk model. This model describes how the responsibilities of management and auditors combine to determine the risk of the ...

The American Institute of CPAs has developed an online Audit Risk Assessment Tool to focus in on the potential risk of material misstatements in a financial statement ...

Many people are obsessed with IRS audit risk. Audit risk is worrisome, and opinions vary widely. Even worse, there are many old wives tales about what does and doesn’t trigger an audit. But what about ...

Nobody really likes being audited, but it's an important function to ensure the practices and policies of a company and/or individual are above board. And, as with all jobs, someone's gotta do it.

The odds of being selected for an audit are pretty small. Some behaviors, however, can boost your chances. Sometimes, a few adjustments are all you need to avoid being in the audit pile. You've seen ...