The AICPA Auditing Standards Board’s (ASB’s) plans to finalize a new risk assessment standard at its August meeting should be welcome news for many practitioners. Risk assessment is a fundamental ...

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 ...

The Committee of Sponsoring Organizations of the Treadway Commission released a new paper Wednesday on uniting COSO’s enterprise risk management framework with “agile” practices in internal auditing ...

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The annual audit plan is typically out-of-date even before it is approved by the audit committee. It’s quite a few years since I first started talking about “auditing at the speed of risk” (since at ...

Can you assess risk management without considering related internal controls? I don’t think so. The relationship between risk (what might happen to affect the achievement of objectives) and internal ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. This article is more than 3 years old. The internal audit (IA) ...

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.

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.