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

Review

Accounting; Auditing

To examine again. The overall review of audit documentation is completed after field work. A peer review is a practise monitoring programme in which audit documentation of one CPA firm is ...

Service auditor

Accounting; Auditing

The auditor of an organisation that provides services such as data processing or pension trust administration to other organisations (the users). Auditors of the users (user auditors) rely on a ...

Radio frequency identification tag (RFID)

Accounting; Auditing

A tag is attached to and identifies a thing such as an item in inventory, a case of items, a pallet of cases, a car passing through a reader on a tollway, or a person passing through a doorway. A ...

Shipping document

Accounting; Auditing

A document prepared when goods are shipped. It lists the date shipped, the customer, method of shipment, and quantities and specifications of goods shipped.

Assertions about rights deal with whether the entity has rights to the asset at a given date. For example, management asserts that amounts capitalised for leases in the balance sheet represent the ...

Simulation

Accounting; Auditing

Representation of the operation or features of one process or system through the use of another. Computer simulation of waiting lines can determine the number of employees needed to serve customers ...

Single audit act

Accounting; Auditing

This federal legislation requires state and local governments that receive federal aid of $500,000 or more in a fiscal year to have an audit under the act. A government that receives less than ...