Internal and external audit systems provide companies with a method for testing internal controls, a process that can help detect or prevent fraud while making sure the company stays compliant, stops ...

Public accounting firms love to land new audit clients and keep their current audit clients happy. After all, acquiring new business and retaining it is the key to growth. But revenue growth can cause ...

Quality inspectors at Boeing, angry at management’s plan to streamline and automate some quality-control processes with fewer inspectors overseeing the work of mechanics, point to a recent ...

As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...

The Public Company Accounting Oversight Board has proposed a set of significant changes in the requirements for auditing firms' quality control systems, in a major update from the earlier standards in ...