The reliance on statistical sampling is becoming an outdated risk in a data-rich world. UK audit firms must transition to full-population testing and continuous assurance, shifting the auditor's role ...

Ali Hussain has a background that consists of a career in finance with large financial institutions and in journalism covering business. Vikki Velasquez is a researcher and writer who has managed, ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

The Pentagon on Friday failed its seventh audit in a row, with the nation’s largest government agency still unable to fully account for its more than $824 billion budget, though officials stress they ...

When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Ernst & Young said it is cutting ties with many U.S. public companies as audit clients, a move to revamp its audit practice and improve the quality of its work. Eighty-four public companies exited EY ...

The IRS says it is about to ramp up audits as it cracks down on tax cheats and seeks to deliver more revenue into the U.S. Treasury's coffers. But not every group of taxpayers will face more scrutiny, ...

It's rare IRS agents will come knocking on your door to perform an audit these days. Most audits are now done via mail or in person at an IRS office or the taxpayer's place of business, but they're ...

The company failed 33 of 89 audits during an examination conducted by the Federal Aviation Administration after a panel blew off an Alaska Airlines jet in January. By Mark Walker Reporting from ...