As part of a financial audit, the auditor must assess the inherent risk associated with the revenue cycle and perform tests to determine it is relatively free of ...

The Public Company Accounting Oversight Board released its annual inspection reports Tuesday for the Big Four firms, along with eight other firms that are inspected each year. The PCAOB generally ...

PCAOB inspection reports and SEC enforcement releases show difficulties in subsequent events audits. Based on our survey of 76 practicing auditors at one firm, actions that may improve those audits ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...