Auditing

Auditing

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

Industry: Accounting

Add a new term

Contributors in Auditing

Become a Contributors

Auditing

Sample size

Accounting; Auditing

The number of population items selected when a sample is drawn from a population.

Unless the auditor examines 100% of the population, there is some chance the sample results will mislead the auditor. This risk is sampling error. The larger the sample, the less chance of sampling ...

Specialist

Accounting; Auditing

An expert at activities not usually done by auditors (such as an appraiser for valuation).

Sampling risk

Accounting; Auditing

The possibility that conclusions drawn from the sample may not represent correct conclusions for the entire population.

Statements on standards for accounting and review services (SSARS)

Accounting; Auditing

Pronouncements concerning unaudited financial information of a nonpublic entity issued by the AICPA Accounting and Review Services Committee.

Scope

Accounting; Auditing

The type of engagement. The scope of an engagement might be a review, an audit, or a compilation. A scope limitation is a restriction on the evidence the auditor can gather.