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 ...

A small business's internal control system can only be as strong as the rules, policies and procedures put in place to detect fraud, waste or abuse and protect its financial and physical assets.

The new audit risk standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify ...