Preliminary Analytical Procedures as a Powerful Risk Assessment Step
Preliminary analytics assist auditors in detecting signs of material misstatement. See how to use this tool in your audits.
How to Use Agreed Upon Procedures as an Attest Option
On December 19, 2019, the AICPA released SSAE 19, Agreed-Upon Procedures Engagements. AUPs provide you with the ability to…
Significant Risks in Audits of Financial Statements
Peer reviews find that many CPA firms don’t identify significant risks in audits, and that’s a problem. Why? Because…
Master the Audit of Accounts Payable and Expenses Now
One of the most important audit areas is accounts payable and expenses. This article tells you how to handle this critical part of your audit.
See How Control Risk Affects Financial Statement Audits
Control risk continues to create confusion in audits. Some auditors assess control risk at less than high when they…
How to Plan Your Audits Using SAS 145 Risk Assessment
Statement on Auditing Standards No. 145 (SAS 145), Understanding the Entity and Its Environment and Assessing the Risks of Material…
Related Party Transactions: Fraud
Related party transactions can be a means to fraudulent financial reporting. Yet, auditors often don’t detect the financial statement…
Work Paper Mistakes: A List of 40 Common Errors
Today, I offer you a list of forty work paper mistakes. If you’re an auditor or you perform review…
How to Identify and Manage Audit Stakeholders
This is a guest post by Harry Hall. He is a Project Management Professional (PMP) and a Risk Management…