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.

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 are intended to present information about a business's financial performance and circumstances to interested parties so that financial decisions can be made on the basis of that ...

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 ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

Quarterly financial statements are required for publicly-traded companies, but private businesses may produce them as well. Quarterly statements for publicly- traded companies are not required by law ...

Office of Management and Budget (OMB) 2 CFR 200 Uniform Guidance states that entities that expend $750,000 or more in a year in federal funds are required to have a single audit. For more information ...

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 ...