When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

An internal audit is the primary control tool used to ensure that a company's accounting staff is following the proper accounting procedures. The process permits you to review a representative sample ...

The California Department of Tax and Fee Administration held its second interested parties meeting concerning the Department’s proposed revisions to its sales and use tax Audit Manual Chapter 13 ...

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 ...

The report is the culmination of an internal audit, where the internal auditors describe what they found, provide evidence of the issues that were detected, and the corrective action that they ...

The audit process is a meticulous and structured examination of an organization's operations, controls, and processes. This systematic review is conducted to assess the accuracy, reliability, and ...

Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. Federal tax law treats partnerships as conduits for tax ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

A climate of psychological safety is an important prerequisite for effective interpersonal relationships among audit team members and for audit teams to properly meet their fiduciary responsibilities.