A term of art in the audit profession that is tossed around but not well-understood is “reasonable assurance.” What does it actually mean when an audit report attests with reasonable assurance that ...

The concepts of quality assurance and audits are two distinct ideas that serve the same purpose: improving quality, consistency and reliability in operations. Quality assurance is more of an abstract ...

Estimates in accounting aren’t new, but they’re having a bigger impact on earnings than ever before, thanks in part to recent updates to standards for credit losses, leases, and revenue recognition, ...

In most cases, auditors simply cannot look at every transaction that makes up a company's financial statements. As such, technical audit procedures are designed to ensure that the auditor can express ...

FEW ISSUES INVOLVING THE PREPARATION of financial statements in conformity with generally accepted accounting principles have been more elusive and difficult to address and resolve—or of greater ...

ESG and sustainability data are increasingly used by investors, regulators, customers, employees, and other stakeholders to assess the sustainability and value of a company. This expanded use has ...

By Erika Fille T. Legara IN A PREVIOUS BusinessWorld article, I argued that AI governance goes beyond overseeing a handful of technology projects and now encompasses ensuring that AI-enabled decisions ...