Testing payroll during an audit can be a tedious manual process, the kind of grunt work that has long been viewed as the “dues” paid by young auditors before they advance in their careers. Recently, ...

Tone at the top and appropriate deployment of personnel are among the most important indicators of a quality audit, according to a survey of CPA firms performed by the AICPA. The Practice Monitoring ...

Confidence in audit quality has increased but many stakeholders have reported only a partial or limited understanding of the scope of auditor responsibilities, according to new findings. A document ...

Auditing standards state that inquiry alone does not provide sufficient evidence regarding the lack of material misstatement (AU-C §500, Audit Evidence, ¶.A2), yet regulatory inspections and ...

The processes you use to order merchandise for your company are vital to control risks, prevent fraud, ensure maximum savings and maintain regulatory requirements. You should develop a checklist to ...

High-quality audits are essential to capital market operations. These audits are planned and executed by highly skilled, independent auditors in consultation with independent audit committees. In turn ...

Henry Wadsworth Longfellow once said, “It takes less time to do things right than to explain why you did them wrong.” However, many audit firms think about quality as a task carried out at the end of ...

The Financial Reporting Council has sharply criticised BDO’s audit quality, calling its work “significantly short of expectations” and placing the firm under close watch, despite a modest year-on-year ...

In this article, we aim to educate readers about some of the key determinants of the level of an external audit fee. These include the size and complexity of the entity being audited, the level of ...

Don Cowan and Mahyar Mohammadnezhad of Kiwa PI Berlin explain the importance of upstream diligence in ensuring long-term PV ...