The American Institute of CPAs has released an alert warning about audit risks from the economic crisis.
The report, "Current Economic Crisis: Accounting and Auditing Considerations 2009," focuses on legal and regulatory actions taken to curtail the crisis, along with the relevant accounting and auditing issues. The audit risk alert is designed to identify some significant risks that may result in a material misstatement of financial information, including fair value accounting, impairment issues, liquidity, fraud and going concern considerations.
The report costs $39 for AICPA members, or $48.75 for non-members. For more information, visit www.cpabiz.com/economy.
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