Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

When you hear the term audit, you may immediately think of a team of IRS officers rummaging through your files looking for discrepancies and errors in your business's tax returns. However, financial ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

Since 1995, the Department of Defense’s financial management has been on the Government Accountability Office’s High Risk List. Thousands of audit findings from DOD’s department-wide financial ...

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 ...

For many, the term “Air Force” conjures up images of fighter jets and airmen in combat. But there’s a lot more that happens behind the scenes. Budgeting, funding and accounting, for example, are ...

Confirming that auditor independence continues to be a regulatory priority, the Securities and Exchange Commission (SEC or Commission) and the Public Company Accounting Oversight Board (PCAOB) issued ...