Auditing

Auditing

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

Contributors in Auditing

Auditing

Means to multiply one number by another (to test extensions is to test the accuracy of multiplication done by the client). To extend audit procedures is to apply additional audit procedures to obtain ...

Field work

Accounting; Auditing

The performance of audit procedures outside the CPA's office. Much field work, but not all, is done in the client's offices after the balance sheet date.

Financial forecasts

Accounting; Auditing

Are prospective financial statements that present expected future financial position, results of operations, and cash flows based on expected conditions. A financial forecast is of the most likely ...

Financial projections

Accounting; Auditing

Are prospective financial statements that present, given one or more hypothetical assumptions, an entity's expected financial position, results of operations, and changes in financial position. A ...

Financial institution

Accounting; Auditing

Confirmation request A confirmation sent to the client's bank or other financial institution asking the bank to confirm directly to the auditor information about balances at a particular date.