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Posts Categorized as 'Glossary-Audit terms'

Monday, February 18th, 2008

Alphabet C-Auditing Terms

ALPHABET C:
Compliance audit:

a review of an organization’s financial records performed to determine whether the organization is following specific procedures, rules, or regulations set by some higher authority
an audit performed to determine whether an entity that receives financial assistance from the government has complied with specific laws and regulations.

Confidential client information:

client information that may not be […]

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Sunday, February 17th, 2008

Alphabet A- Auditing Terms

Alphabet A:
Accounting:

      The recording, classifying, and summarizing of economic events in a logical manner for the purpose of providing financial information for decision making.

 Absense of causal connection:

      An auditor’s legal defense under which the auditor contends that the damages claimed by the client were not brought about by any act of the auditor.

 Acceptable audit risk:

      […]

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