Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

THE ASB ISSUED AN EXPOSURE DRAFT designed to expand audit procedures to address material financial statement fraud. Comments on the proposed changes are due by May 31, 2002. THE ED EMPHASIZES ...

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

An audit is a systematic process of objectively obtaining and evaluating the accounts or financial records of a governmental, business, or other entity. Whereas some businesses rely on audits ...

The introduction of Statement on Auditing Standards (SAS) No. 145, "Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement" (SAS 145) last December marked a ...

As of late December, the Public Company Accoun- ting Oversight Board had published on its Web site the results of some 173 inspections of audit firms.The purpose of this article is to attempt to ...

Western Illinois University supports an internal auditing department as an administrative staff function and as an independent appraisal function to examine and evaluate University business or ...