closing the audit expectations gap

regulator expectations versus client expectations: is there a middle ground?

by alan anderson
transforming audit for the future

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the new manifesto for accountants.

the overarching goal of the audit is to issue the correct audit opinion.  but what else do we expect from an audit?

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the word “audit” comes from a latin word that means “to hear.” originally, the official examination of accounts – what we would call an audit – was an oral procedure. and, for many centuries, listening was a primary way of gathering information in an audit. the merriam-webster dictionary defines audit as “a formal examination of an organization’s or individual’s accounts or financial situation” or as “a methodical examination and review.”