The reliance on statistical sampling is becoming an outdated risk in a data-rich world. UK audit firms must transition to full-population testing and continuous assurance, shifting the auditor's role ...

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 ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

The county’s internal auditor reported that in a sampling of contracts and expenditures paid for with American Rescue Plan Act dollars, Orange County had complied with all federal monitoring rules and ...

The Department of Defense is still struggling to account for its finances. The department once again failed its annual audit into its expenditures and assets. This markets the seventh straight year of ...

The Pentagon on Friday failed its seventh audit in a row, with the nation’s largest government agency still unable to fully account for its more than $824 billion budget, though officials stress they ...

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, ...

Simply sign up to the US financial regulation myFT Digest -- delivered directly to your inbox. The largest US accounting firms will have to appoint independent outsiders to help oversee audit quality, ...

Ernst & Young (EY) is cutting ties with a significant number of U.S. public companies as audit clients in an effort to revamp its audit practice and improve the quality of its work. Between January 1, ...