Taking the Risk Out of Risk Assessment

“Risk assessment is at the core of every audit. The goals of identifying, assessing, and responding to risks of material misstatement (“risks”) drive every audit procedure, from gaining an understanding of the entity and its internal control to vouching transactions back to vendor invoices. However, more than a decade after the 2006 Risk Assessment Standards

Know Basic Business Fraud Warnings

“From hourly employees skimming the cash register to top executives fudging their revenue numbers, fraud is an unfortunate fixture of the business landscape.  But while fraud may be a constant concern, falling victim to it isn’t inevitable.  Here are some red flags that experienced forensic accountants look for, and advice for ways to ferret out

Defining Risk Management In Your Organization

“Risk oversight and risk management are high priorities on the agenda of most organizations.  The first step to defining risk management goals and risk management objectives is to define your organization’s shared vision. Once the shared vision is articulated, overall risk management goals and objectives must be defined. While a vision statement is often aspirational, the