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

Audit committee

Accounting; Auditing

A committee of the board of directors responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results.

Application control

Accounting; Auditing

Programmed procedure in application software designed to ensure completeness and accuracy of information.

Cheque digit

Accounting; Auditing

A redundant digit added to a code to cheque accuracy of other characters in the code.

Comparative

Accounting; Auditing

Financial statements of a prior period shown with those of the current period to aid in comparisons between periods.

Collusion

Accounting; Auditing

A secret agreement between two or more parties for fraud or deceit.

quoted investments

Accounting; Auditing

When a bond or stock is issued, there is an understanding of how the bond or stock will be honored at maturity.

accounting based incentive

Accounting; Auditing

A kind of compensation given to some high rank executives of companies being determined by their direct contributions to help company in meeting specific levels of income and shares equity return.