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, ...

Please note: This item is from our archives and was published in 2020. It is provided for historical reference. The content may be out of date and links may no longer function. The new ...

Generally accepted auditing standards (GAAS) require the auditor to identify and assess risks of material misstatement (AU-C §315, Understanding the Entity and Its Environment and Assessing the Risks ...

The Public Company Accounting Oversight Board staff issued guidance Thursday on some of the considerations auditors should have about the relevance and reliability of information they get from ...

In most cases, auditors simply cannot look at every transaction that makes up a company's financial statements. As such, technical audit procedures are designed to ensure that the auditor can express ...

This concentration equips students with skills and tools required to examine and evaluate an organization's information technology infrastructure, policies and operations. It focuses on the process of ...

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 ...

The American Institute of CPAs’ Auditing Standards Board has released a new standard for audit evidence for private companies, updating the existing standards in recognition of the increasing role ...

The reliance on statistical sampling is becoming an outdated risk in a data-rich world. UK audit firms must transition to full-population testing and continuous assurance, shifting the auditor's role ...

Carla Tardi is a technical editor and digital content producer with 25+ years of experience at top-tier investment banks and money-management firms. Investopedia / Michela Buttignol A forensic audit ...