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Auditing
The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.
Industry: Accounting
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Auditing
Aggregate
Accounting; Auditing
Constituting the whole. Aggregate expenses include expenses of all divisions combined for the entire year.
Allowance for doubtful accounts
Accounting; Auditing
A contra asset account with a credit balance used to reduce the carrying amount of accounts receivable to net realisable value. The allowance balance is the estimated total of uncollectible accounts ...
Adjusting entries
Accounting; Auditing
Accounting entries made at the end of an accounting period to allocate items between accounting periods.
Completeness
Accounting; Auditing
Assertions about completeness deal with whether all transactions and accounts that should be in the financial statements are included. For example, management asserts that all purchases of goods and ...
Attest (attestation) report
Accounting; Auditing
In an attest engagement, a practitioner issues a written conclusion about the reliability of a written assertion that is the responsibility of another party.
Assessed
Accounting; Auditing
Determined. The level of control risk determined by the auditor, based on tests of controls, is the assessed level of control risk.