Assessing going concern issues in an audit

The Auditing Standards Board (ASB) has unanimously voted to issue a final going concern standard. This standard will align the AICPA’s auditing guidance with accounting guidance issued by the Financial Accounting Standards Board (FASB) in 2014. Here’s a closer look at...

How auditors evaluate fraud risks

Assessing fraud risks is an integral part of the auditing process. Statement on Auditing Standards (SAS) No. 99, Consideration of Fraud in a Financial Statement Audit, requires auditors to consider potential fraud risks before and during the information-gathering...