Why auditors monitor journal entries

What has your organization done to minimize the risk of financial misstatement? The median loss from these schemes is a whopping $766,000, according to a recent study. Financial statement audits, surprise audits and forensic accounting investigations can identify your organization’s vulnerabilities to these schemes and help prevent and detect them. One area auditors target is inappropriate or unauthorized journal entries. They may perform manual and computer-assisted testing to investigate high-risk or suspicious entries. Interviews also provide insight into your financial reporting process and internal controls. Contact us to learn more about audits and other effective antifraud controls.
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