Your new financial audit – Hoist your sails and get ready to navigate unfamiliar waters

Description

Abstract: A new wave of auditing standards from the American Institute of Certified Public Accountants (AICPA) is likely to affect your financial statement audit for fiscal year 2007 and beyond. To ensure smooth sailing through your next audit, this article will familiarize yourself with the changes you’ll encounter. It includes a sidebar on how to prepare for your first audit under the new rules.