Risks in accounting and audit firms are most often described by the audit risk model. This model describes how the responsibilities of management and auditors combine to determine the risk of the ...

The Committee of Sponsoring Organizations of the Treadway Commission released a new paper Wednesday on uniting COSO’s enterprise risk management framework with “agile” practices in internal auditing ...

Join experts from KPMG, Cisco, and Workiva as they explore how audit, accounting, and finance professionals can leverage a ...

The AICPA Auditing Standards Board’s (ASB’s) plans to finalize a new risk assessment standard at its August meeting should be welcome news for many practitioners. Risk assessment is a fundamental ...

Risk-based audit needs a reset to enterprise risk and value auditing. When I became a chief audit executive (CAE) for the first time in 1990, I determined a risk-based approach was inadequate. A ...

The American Institute of CPAs has released a guide to help auditors deal with a new standard on assessing the risks of a material misstatement. The new audit guide, Risk Assessment in a Financial ...

Can you assess risk management without considering related internal controls? I don’t think so. The relationship between risk (what might happen to affect the achievement of objectives) and internal ...

Internal auditors are traditionally defined as in-house accountants who conduct regular and continuous examination of financial records and internal controls. Business risk refers to the probability ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. This article is more than 3 years old. The internal audit (IA) ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Perhaps the best reason to extend is that going on extension ...