Financial statements comprise three important written records: the cash flow statement, the income statement and the balance sheet. Companies furnish financial statements to provide information on ...

How auditors assess and respond to risks of material misstatement in the financial statements, including the risk of fraud, is a critical component of audit quality. New research supported by the ...

A risk management policy statement is a tool used by companies and other organizations to identify and respond to risks in a way that minimizes their impact. Although a risk policy statement often ...

The widespread use of information technology (IT) can introduce various risks that affect financial reporting and the audit process. To assist auditors in identifying and addressing these risks, the ...

The Auditing Standards Board recently issued eight new auditing standards, Nos. 104-111, collectively referred to as the risk assessment standards. The new standards will change many of the planning ...

A handful of security deficiencies in IRS information systems elevate the tax agency’s risk of inaccuracies in financial statements, the Government Accountability Office said Thursday. In its report, ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Financial analysis is an aspect of the overall business finance function that involves examining historical data to gain information about the current and future financial health of a company.

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.

Traditional financial planning often assumes that income remains stable or grows predictably. But there are numerous risks to income—career disruptions, economic downturns, and technological ...

Forbes contributors publish independent expert analyses and insights. Robert Eccles writes about sustainability in the capital markets. “Climate risk is financial risk” is an increasingly ubiquitous ...