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A Practical, Customized Approach to Auditing: New Risk Assessment Standards
The new assessment standards are deliberately designed to protect privately held companies from risks associated with the increasingly complex activities of the 21st century — e-commerce, global competition, and outsourcing of business operations overseas — as well as errors in judgment or fraud among management. Author Craig Funkhouser explains how the eight new standards will affect companies’ documentation procedures for audits and why the biggest audit overhaul in the past 30 years was necessary. Download PDF
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