Audits provide small businesses with third-party opinions on business or financial operations. A common type of audit in business is the financial audit. Business owners use public accounting firms or ...

Here’s a quick breakdown of formal and informal audits: Audit (formal) – the annual ritual of providing objective evidence that a quality system is established, followed and effective. A good quality ...

You’ve received a letter from the IRS regarding an audit. What is your plan? Assuming the fetal position? Heavy drinking? Fleeing the country? Spontaneous combustion? None of these actions is ...

Auditing your records management process ensures that your business meets legal and regulatory requirements. The process also provides a window into the effectiveness of your operations. Whether an ...

As such, organizations are making their vendors obtain System and Organization Controls (SOC) attestation reports, as mandated by SSAE 16 and SSAE 18. A SOC report is a verifiable auditing report ...

STATEMENT ON AUDITING STANDARDS (SAS) no. 96, Audit Documentation, marks the first big change in the requirements auditors must observe when documenting their audit work. It provides general guidance ...