The AICPA Auditing Standards Board (ASB) is proposing changes to the definition of materiality in its standards for auditors and attestation engagements to eliminate inconsistencies with the ...

The concept of materiality in the AICPA Professional Standards has been amended to match the description used by other standard setters and regulators in the United States. Under new standards issued ...

The new Frequently Asked Questions document aims to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern. The FAQ document discusses the main ...

The Public Company Accounting Oversight Board has voted to propose seven new auditing standards related to risk assessment. The proposed standards would supersede the board's interim auditing ...

RECENTLY, there has been much debate about the relevance, performance and impact of the accountancy profession. Governments and politicians are busy devising extra safeguards particularly in audit to ...

The main objective of an audit is to give a true and fair view of a company's state of affairs at a given date. Preparation of the audit report is the last step of an audit cycle. The report renders ...