A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

An auditor's opinion on the financial statements is expressed in the form of an auditor's report. In the best case, the auditor finds that the financial statements are in accordance with generally ...

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...