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

Operating effectiveness

Accounting; Auditing

How an internal control was applied, the consistency with which it was applied, and by whom.

Operating income

Accounting; Auditing

From continuing operations is reported on an income statement.

Opinion

Accounting; Auditing

A CPA's conclusion held with confidence but not substantiated by positive knowledge or proof.

The paragraph in the audit report that expresses the auditor's conclusions. The wording of the standard, unqualified opinion paragraph is: "In our opinion, the financial statements referred to above ...

Order

Accounting; Auditing

Is a listing of goods or services requested from a supplier with specifications and desired delivery method. A company starts the purchase process internally with a requisition, which results in an ...

Overall review

Accounting; Auditing

The objective of the overall review stage of the audit is to assess conclusions reached, and evaluate the overall financial statement presentation. The overall review includes reading the financial ...