(Editors’ note: All quoted material in this article comes from SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, as codified in AU-C Section ...

Calendar year 2023 audits will require auditors to follow revised risk assessment guidance. Changes to the concept of significant risk may impact how you perform risk assessment procedures and how you ...

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 ...

The Public Company Accounting Oversight Board staff released a report Monday on how during 2022 and 2023, several firms' engagement teams working on audits in the banking sector did not adequately ...

Check out Taxmann's Audit of Financial Statements which is a comprehensive guide that assists auditors conducting financial statement audits, covering every step from auditor appointment to audit ...