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The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.

Contributors in Auditing


Segregation of duties

Accounting; Auditing

Means assigning different people the responsibilities of authorising transactions, recording transactions, and maintaining custody of assets. Segregation of duties reduces the opportunities for one ...

Revenue cycle

Accounting; Auditing

The portion of a company that fills customer orders, accounts for receivables, and collects those receivables.


Accounting; Auditing

Supervision is directing efforts of assistants in the audit and determining whether objectives were accomplished. Elements of supervision include instructing assistants, keeping informed of problems, ...


Accounting; Auditing

Provide goods or services to an audited entity. Sometimes called vendors.

Systrust engagements

Accounting; Auditing

A CPA tests a business system for its ability to operate without material error and reports on its reliability.


Accounting; Auditing

A sample from a population to estimate characteristics of the population.

Test count

Accounting; Auditing

As part of inventory audit procedures auditors normally observe the client's employees counting physical inventory. A test count is inventory counted by the auditors to cheque the client's count.

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