A semi-annual or annual internal audit allows you to gauge the effectiveness of your business's internal control system. Unlike an external audit, which focuses on determining whether financial ...

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 ...

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

How auditors assess and respond to risks of material misstatement in the financial statements, including the risk of fraud, is a critical component of audit quality. New research supported by the ...

The report is the culmination of an internal audit, where the internal auditors describe what they found, provide evidence of the issues that were detected, and the corrective action that they ...

Check out Taxmann's Audit of Financial Statements which is a comprehensive guide that assists auditors conducting financial statement audits, covering every step from auditor appointment to audit ...

The Bureau of Internal Revenue (BIR) ended the two-month suspension of tax audit activities after issuing Revenue Memorandum Circular (RMC) No. 8-2026 and Revenue Memorandum Order (RMO) No. 1-2026.