When a business is audited, the reviewer job is to ensure that management's assertions in the financial statements are verifiably true. To assess the validity of these claims, the auditor will conduct ...

Audit assertions are claims made by the management of a company about certain areas of their financial statements or operations. Auditors verify these claims by performing tests of internal controls.

The Public Company Accounting Oversight Board’s recently proposed rules on auditing accounting estimates and using the work of specialists indicate the PCAOB wants auditors to view management bias ...

The SAS 70 auditing standard has been a must for service providers to test internal security controls. But it hasn’t been without critics, and SAS 70’s replacement is at hand. In June 2011, it will be ...