The Auditing Standards Board issued eight standards with new guidance for auditors assessing risks and controls in financial statement audits. Auditors must consider risk and also determine a ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

While early stage businesses are frequently financed by a close group of owners, success often creates opportunities that necessitate outside funding. Whether your business is experiencing rapid ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. David ...

The new audit risk standards require the auditor to understand and respond to risks of material misstatement, whether due to errors or fraud. In reaching that understanding, auditors should identify ...

The debate about responsible financial reporting has not been sidelined by the COVID-19 pandemic. In fact, the future of audit—and how it should adapt to changing stakeholder demands—has only grown in ...

Audited financial statements are needed by businesses for a number of reasons. They are required by various federal and state regulators, such as the ...

A certified financial statement is one that has been reviewed and approved by a certified, independent auditor. Such statements are considered more reliable than unaudited statements and are mandatory ...

(DoD photo by Master Sgt. Ken Hammond, U.S. Air Force.) The fifth annual Department-wide financial statement audit resulted in a disclaimer of opinion, however significant progress was achieved. Seven ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Andy Smith is a Certified Financial Planner (CFP®), licensed realtor ...