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.

Managers who prepare financial statements from company records according to standard accounting procedures make assertions about the data in the statements. For example, management asserts that each ...

Auditing by the Defense Contract Audit Agency (“DCAA”) is a ubiquitous cost of doing business with the Department of Defense, and one which many defense contractors have come to dread. Unfortunately, ...

2023 is a transitional year for sustainability data. IFRS, the global accounting standards body, has been remarkably clear: By January 2024, companies should be using accounting-based standards to ...

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 ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...

The American Institute of CPAs has revised two publications used by auditors of governmental and not-for-profit entities that spend federal awards and those who audit state and local government ...