Preparation of an audit report can be intimidating for most companies. But it doesn't have to be. When preparing for an audit report it's important to understand audit report format, spend time ...

The Public Company Accounting Oversight Board is taking another stab at overhauling the auditor’s reporting model. The PCAOB first proposed changes in audit reports in 2013 and heard extensive ...

The objective of the reporting phase of a financial audit is to present an informed opinion about a business's financial statements, including whether they conform to generally accepted accounting ...

IN CERTAIN INSTANCES CPAs SHOULD CONSIDER preparing and reporting on financial statements using an “other comprehensive basis of accounting” (OCBOA). Tax-basis and cash-basis, including ...

When it is time to bring in an external audit firm — perhaps because lenders, investors or a regulatory body triggered the need to audit your financial statements — preparation and responsiveness are ...

Audited financial statements are independent CPA evaluations costing thousands. They include balance sheets, cash flow, ...

As a result of the AICPA Auditing Standards Board’s (ASB) Clarity Project, a new standard has been developed that provides clearer requirements and guidance for audits of group financial statements, ...

Auditing the Defense Department full financial statement is required by law. Rather than focusing exclusively on doing whatever is necessary—including fast, temporary fixes—to get a passing grade from ...

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 ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...