20 Terms
Home > Industry/Domain > Accounting > Auditing
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
Authorise
Accounting; Auditing
To give permission for. A manager authorises a transaction by signing a voucher authorising the disbursement.
Remittance
Accounting; Auditing
Sending money to someone at a distance. A remittance advice is a paper record of the amount sent, purpose of the payment, and associated account identification.
Remote
Accounting; Auditing
A contingency with only a slight chance of occurring. In computer processing of information, a distant computer.
Reperformance
Accounting; Auditing
The repeating by the auditor of a computation made by the client to cheque its accuracy.
Reportable condition
Accounting; Auditing
Matters coming to the auditor's attention that are communicated to the audit committee because they are significant deficiencies in internal control which could adversely affect the ability to ...
Representation
Accounting; Auditing
A letter from management to the auditor representing that the financial statements are fairly presented. The letter is addressed to the independent auditor, and dated at the date of the auditor's ...
Requisition
Accounting; Auditing
A formal written request for something needed. A purchase by a company is initiated internally by a requisition, resulting in the issuance of a purchase order to the outside supplier.
