Impairment and revaluation are terms closely related to one another, with subtle differences. Revaluation and impairment both require the company to evaluate the assets for their fair value, and then take appropriate action in updating the accounting books. The major difference between the two...

Internal audit has a responsibility to its stakeholders to provide reports on the operations of the organization’s risk management, control, and governance processes and the responsibility to justify the value added to the organization. Internal audit assesses the performance with some key...

The question of title is about the ethical dilemmas which are involved into the accountancy profession. There are millions of accountants, who must do their jobs well each day and don’t break the law, who have to rigorously apply accounting standards and professional principles in their work...