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Audit leaders issue another year-end alert on key risks

Tammy Whitehouse | October 13, 2017

Auditors have been handed yet another prod from leaders in their profession to pay special attention to some high risk areas as they prepare for the upcoming year-end audit cycle.

The Center for Audit Quality issued a year-end audit alert reminding auditors to sharpen their pencils for some extra work on touchy subjects like internal control over financial reporting, revenue recognition, going concern findings, and accounting estimates and fair value measurements. It follows a pair of reminders from the Public Company Accounting Oversight Board on what inspectors are looking for in their annual audit inspections and what...

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