Audit assertions are claims made by the management of a company about certain areas of their financial statements or operations. Auditors verify these claims by performing tests of internal controls.

Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

The Blood Bank of Alaska said Wednesday federal auditors found "no validity" in allegations brought against it by whistleblowers, but an accusation that falls under an area not regulated by the Food ...

Financial statement assertions can be essential to a business owner who wants to get a loan. Every business has a variety of different financial reports it can use as proof to lenders that what it ...

Please note: This item is from our archives and was published in 2021. It is provided for historical reference. The content may be out of date and links may no longer function. Accounting for and ...

The American Institute of CPAs has revised two publications used by auditors of governmental and not-for-profit entities that spend federal awards and those who audit state and local government ...

The National Financial Reporting Authority (NFRA) has debarred two partners of a Mumbai-based firm for alleged professional misconduct in auditing Devan Housing Finance Corp. Ltd’s FY18 accounts, as ...