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 ...

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 ...

More than just paperwork, audited financial reports show that the numbers for your business add up. Knowing what goes into an audited statement and why it matters can help you gain confidence with ...

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.

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 ...

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 ...

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 ...