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Internal Audit 101: Everything You Need to Know

Audit Board

Through the internal audit function, teams will identify issues like compliance concerns, complete risk assessments, investigate internal or external fraud, and sometimes identify data inaccuracies in financial reporting. The audit team’s ultimate goal is to be a highly valued business partner to other segments of the organization.

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Top accounting issues in 2023

ThomsonReuters

That’s why it is no surprise that the AICPA’s most recent “Top Firm Issues Survey ” found that “keeping up with changes and complexity of tax laws” is among the top issues for firms large and small. but there are several common hurdles that often run industry wide.