The Auditing Standards Board (ASB) issued the second clarified auditing standard resulting from its clarity project, which aims to make U.S. GAAP easier to understand and apply and gives each standard ...

Companies put internal controls in place to limit risks. Possible risks include losses, poor performance on contracts, poor quality and non-compliance with regulations. Documentation procedures detail ...

SAS no. 103 establishes standards and provides guidance for auditors to follow when documenting their work during audits of private companies. It is effective for audits of financial statements of ...