To determine maximum aggregate component materiality levels, we first use the cumulative binomial distribution to derive the maximum number of components that can be allowed to simultaneously contain ...

The rise of AI in audit is unavoidable. This analysis explores the ethical risks of bias, the regulatory need for Explainable ...

Risks in accounting and audit firms are most often described by the audit risk model. This model describes how the responsibilities of management and auditors combine to determine the risk of the ...

Generally accepted auditing standards (GAAS) require the auditor to identify and assess risks of material misstatement (AU-C §315, Understanding the Entity and Its Environment and Assessing the Risks ...

Combine structured frameworks with a customizable assessment model to turn strategic fog into prioritized remediation plans ...

A new study has unveiled one of the most accurate corporate credit risk forecasting models to date. This study is a result of ...

The annual audit plan is typically out-of-date even before it is approved by the audit committee. It’s quite a few years since I first started talking about “auditing at the speed of risk” (since at ...