Editor’s note: The author is technical director of the AICPA Center for Plain English Accounting. Addressing audit risk in financial statements with high levels of substantive procedures toward the ...

Nobody really likes being audited, but it's an important function to ensure the practices and policies of a company and/or individual are above board. And, as with all jobs, someone's gotta do it.

Annually, we perform a campus wide risk assessment, with the support of Internal Audit and the University’s Compliance Program. We embraces a holistic strategy for risk identification, utilizing a ...