The Charleston County School Board wants a thorough, detailed audit of the district’s finances following the recent discovery of an $18 million budget shortfall. It just may not be a “forensic” one.

All publicly traded companies must annually disclose their financial performance to the public: GAAP audits ensure that these disclosures are valid. Every year, independent accountants review a ...

According to the Definition of Internal Auditing in The Institute of Internal Auditors (IIA) International Professional Practices Framework (IPPF), internal auditing is an independent, objective ...

When a company first goes into business, it chooses the yearly reporting period for tax purposes. Fiscal auditing periods may start during any month. For example, perhaps your employer has a fiscal ...

An effective definition of audit quality should encompass two key factors, the Center for Audit Quality (CAQ) told the PCAOB in a comment letter dated May 13. The CAQ, which is affiliated with the ...

Performance auditing can be a powerful contributor to effective and accountable government. There is, however, a gap between the positive impact it could have and that which it is actually having. In ...

A record of transactions in an information system that provides verification of the activity of the system. The simplest audit trail is the transaction itself. If a person's salary is increased, the ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...