The NFRA has released its second 'Audit Practice Toolkit' to assist small and medium audit practitioners. The toolkit ...

The NFRA has released its second Audit Practice Toolkit to assist small and medium practitioners in assessing risks of material misstatement in revenue.

The Public Company Accounting Oversight Board staff released a report Monday on how during 2022 and 2023, several firms' engagement teams working on audits in the banking sector did not adequately ...

Crypto-friendly digital bank Revolut is under pressure from U.K. regulators after an "unacceptably high" risk of "material misstatement" was highlighted in the auditing of its accounts, the Financial ...

The International Accounting and Assurance Standards Board has released a revised standard for identifying and assessing the risks of material misstatements. International Standard on Auditing (ISA) ...

LONDON (Reuters) - UBS said it is still reviewing potential misstatements in Credit Suisse's financial reports and talks with regulators to address the issue are ongoing. The bank said on Thursday in ...

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 ...

(Editors’ note: All quoted material in this article comes from SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, as codified in AU-C Section ...

Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. A material weakness occurs when a company's ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. GAM has been accused by the Swiss stock exchange of a “potentially material misstatement” in accounting ...