The goal of conducting an audit and preparing an associating audit report is to allow the auditors to express an opinion regarding whether or not a company's financial statements were prepared in ...

FEW ISSUES INVOLVING THE PREPARATION of financial statements in conformity with generally accepted accounting principles have been more elusive and difficult to address and resolve—or of greater ...

In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing ...

A state audit has found “material weaknesses” and “systemic issues” in the Bartholomew County government’s financial procedures and controls for administering federal funds, including instances in ...

Auditing firms that tend to find material weaknesses in companies’ internal controls are seen as less attractive in the audit market, according to a new study. The study, by Stephen P. Rowe and ...

JOHNSON CITY, Tenn. (WJHL) — Problems with Johnson City’s bank reconciliations and the accuracy of its financial reporting persisted for a second straight audit from the Tennessee Comptroller’s Office ...

Eight months after KPMG resigned as Herbalife’s (NYSE:HLF) auditor due to an insider-trading scandal, the nutrition company relieved investors on Monday by saying a re-audit required no material ...

JOHNSON CITY, Tenn. (WJHL) — Johnson City’s fiscal 2022 audit shows three “material weaknesses,” the first time in years the city has reported the more serious of the two types of audit findings. The ...

Marco Island's fiscal year 2024 audit cost significantly more due to extra work needed to correct error-riddled documents. Auditors found "material weaknesses" in the city's financial reporting, which ...

Beaumont ISD last week released material from a forensic audit expected to be critical of the district's use of funds from the $388.6 million bond issue passed in 2007. In response to a Public ...

The objective of an external audit is to determine whether, in an auditor's opinion, a business's financial statements accurately represent its current financial condition. An accurate representation ...