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

Effectiveness

Accounting; Auditing

Producing a desired outcome. An audit procedure is effective if the evidence supports a correct conclusion.

Efficiency

Accounting; Auditing

The ratio of the audit evidence produced to audit resources used.

Encryption

Accounting; Auditing

Is scrambling data so it is meaningless to anyone but the intended recipient, who has the key to unscramble the data.

A letter that represents the understanding about the engagement between the client and the CPA. The letter identifies the financial statements and describes the nature of procedures to be performed. ...

Environment

Accounting; Auditing

The control environment is the attitude, awareness, and actions of the board, management, owners, and others about importance of control. It includes integrity and ethical rules, commitment to ...

Error

Accounting; Auditing

Unintentional misstatements or omissions in financial statements. Errors may involve mistakes in gathering or processing accounting data, incorrect estimates from oversight or misinterpretation of ...