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 ...

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, ...

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 ...

Summary: A new monumental research paper that was begun in January 2009 is now finished. “Checking election outcome accuracy – Post-election audit sampling” significantly advances and improves upon ...

IMGCAP(1)][IMGCAP(2)]Current techniques used by auditors and taught to accounting students to evaluate financial statement information involve audit sampling and performing analytical procedures such ...

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 ...