The widespread use of information technology (IT) can introduce various risks that affect financial reporting and the audit process. To assist auditors in identifying and addressing these risks, the ...

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 ...

STATEMENT ON AUDITING STANDARDS (SAS) no. 96, Audit Documentation, marks the first big change in the requirements auditors must observe when documenting their audit work. It provides general guidance ...

The sales and collections cycle in a business refers to the set of processes that begin when a customer purchases goods or services and ends when your business receives payment in full. As part of the ...

Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

HARRISBURG – State lawmakers are setting new milestones for tardiness in approving a fiscal audit, thereby raising questions about their ability to account for their own spending. The Legislative ...

Annual Audit Plan – An annual audit plan is developed by the Director of Internal Audit based on a university-wide assessment of risk and where Internal Audit can make the greatest impact. Input from ...

Robotics process automation (RPA) has become an efficient way to automate labor-intensive and repetitive tasks across a variety of business functions, including finance and accounting, legal, HR, ...