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Audit

Index Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. [1]

71 relations: Academic audit, Accounting, American Institute of Certified Public Accountants, Audit evidence, Audit plan, Audit risk, Auditing Standards Board, Auditor, Big Four accounting firms, Certified Public Accountant, Chief audit executive, Clinical audit, Company secretary, Comptroller, Comptroller general (disambiguation), Comptroller General of the United States, Continuous auditing, Control self-assessment, Cost accounting, Cost auditing, Data integrity, EarthCheck, Energy conservation, External auditor, Financial audit, Financial statement, Forensic accountant, Forensic accounting, Generally Accepted Auditing Standards, Governance, Government agency, History of information technology auditing, Information security audit, Information technology, Information technology audit, Information technology security audit, Infrastructure, Institute of Internal Auditors, Internal audit, Internal auditor, Internal control, International Auditing and Assurance Standards Board, International Organization of Supreme Audit Institutions, International Standards on Auditing, ISO 9000, Lead auditor, Legal person, Level of measurement, List of public corporations by market capitalization, Management accounting, ..., Management auditing, Materiality (auditing), Misselling, Operational auditing, Peer review, Performance audit, Public company, Public Company Accounting Oversight Board, Qualitative property, Quality audit, Regulatory compliance, Reliability (statistics), Risk based internal audit, Risk management, Risk-based auditing, Sarbanes–Oxley Act, Stakeholder (corporate), Statutory auditor, Tax, Technical audit, Validity (statistics). Expand index (21 more) »

Academic audit

In academia, an audit is an educational term for the completion of a course of study for which no assessment of the performance of the student is made nor grade awarded.

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Accounting

Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.

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American Institute of Certified Public Accountants

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) is the national professional organization of Certified Public Accountants (CPAs) in the United States, with more than 418,000 members in 143 countries in business and industry, public practice, government, education, student affiliates and international associates.

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Audit evidence

Audit evidence is evidence obtained by auditors during a financial audit and recorded in the audit working papers.

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Audit plan

Audit planning is a vital area of the audit primarily conducted at the beginning of audit process to ensure that appropriate attention is devoted to important areas, potential problems are promptly identified, work is completed expeditiously and work is properly coordinated.

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Audit risk

Audit risk (also referred to as residual risk) refers to the risk that an auditor may issue an unqualified report due to the auditor's failure to detect material misstatement either due to error or fraud.

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Auditing Standards Board

In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public accountants (CPAs) for non-public company audits.

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Auditor

An auditor is a person or a firm appointed by a company to execute an audit.

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Big Four accounting firms

The Big Four are the four largest professional services networks in the world, offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services.

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Certified Public Accountant

Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world.

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Chief audit executive

The chief audit executive (CAE), director of audit, director of internal audit, auditor general, or controller general is a high level independent corporate executive with overall responsibility for internal audit.

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Clinical audit

Clinical audit is a process that has been defined as "a quality improvement process that seeks to improve patient care and outcomes through systematic review of care against explicit criteria and the implementation of change".

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Company secretary

A company secretary is a senior position in a private sector company or public sector organisation.

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Comptroller

A comptroller is a management level position responsible for supervising the quality of accounting and financial reporting of an organization.

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Comptroller general (disambiguation)

Comptroller general or comptroller-general or controller general may refer to.

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Comptroller General of the United States

The Comptroller General of the United States is the director of the Government Accountability Office (GAO, formerly known as the General Accounting Office), a legislative branch agency established by Congress in 1921 to ensure the fiscal and managerial accountability of the federal government.

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Continuous auditing

Continuous auditing is an automatic method used to perform auditing activities, such as control and risk assessments, on a more frequent basis.

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Control self-assessment

Control self-assessment is a technique developed in 1987 that is used by a range of organisations including corporations, charities and government departments, to assess the effectiveness of their risk management and control processes.

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Cost accounting

Cost accounting is the process of recording, classifying, analyzing, summarizing, and allocating costs associated with a process, and then developing various courses of action to control the costs.

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Cost auditing

Cost Audit represents the verification of cost accounts and check on the adherence to cost accounting plan.

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Data integrity

Data integrity is the maintenance of, and the assurance of the accuracy and consistency of, data over its entire life-cycle, and is a critical aspect to the design, implementation and usage of any system which stores, processes, or retrieves data.

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EarthCheck

EarthCheck (previously known as EC3 Global), an international tourism advisory group.

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Energy conservation

Energy conservation is the effort made to reduce the consumption of energy by using less of an energy service.

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External auditor

An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal entity, or organization, and is independent of the entity being audited.

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Financial audit

A financial audit is conducted to provide an opinion whether "financial statements" (the information being verified) are stated in accordance with specified criteria.

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Financial statement

Financial statements (or financial report) is a formal record of the financial activities and position of a business, person, or other entity.

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Forensic accountant

Forensic accountants are experienced auditors, accountants, and investigators of legal and financial documents that are hired to look into possible suspicions of fraudulent activity within a company; or are hired by a company who may just want to prevent fraudulent activities from occurring.

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Forensic accounting

Forensic accounting, forensic accountancy or financial forensics is the specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation.

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Generally Accepted Auditing Standards

Generally Accepted Auditing Standards, or GAAS are sets of standards against which the quality of audits are performed and may be judged.

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Governance

Governance is all of the processes of governing, whether undertaken by a government, a market or a network, over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society.

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Government agency

A government or state agency, sometimes an appointed commission, is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency.

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History of information technology auditing

Information Technology Auditing (IT auditing) began as Electronic Data Process (EDP) Auditing and developed largely as a result of the rise in technology in accounting systems, the need for IT control, and the impact of computers on the ability to perform attestation services.

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Information security audit

An information security audit is an audit on the level of information security in an organization.

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Information technology

Information technology (IT) is the use of computers to store, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise.

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Information technology audit

An information technology audit, or information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure.

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Information technology security audit

A computer security audit is a manual or systematic measurable technical assessment of a system or application.

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Infrastructure

Infrastructure is the fundamental facilities and systems serving a country, city, or other area, including the services and facilities necessary for its economy to function.

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Institute of Internal Auditors

The Institute of Internal Auditors (IIA) is the internal audit profession's most widely recognized advocate, educator, and provider of standards, guidance, and certifications.

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Internal audit

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

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Internal auditor

Internal auditor is an auditor who is appointed by the management of the company in order to carry out the internal audit function.

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Internal control

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies.

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International Auditing and Assurance Standards Board

The International Auditing and Assurance Standards Board (IAASB) is an independent standards body which issues standards, like the International Standards on Auditing, quality control guidelines and other services, to support the international auditing of financial statements.

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International Organization of Supreme Audit Institutions

The International Organization of Supreme Audit Institutions (INTOSAI) is a worldwide affiliation of governmental entities.

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International Standards on Auditing

International Standards on Auditing (ISA) are professional standards for the performance of financial audit of financial information.

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ISO 9000

The ISO 9000 family of quality management systems standards is designed to help organizations ensure that they meet the needs of customers and other stakeholders while meeting statutory and regulatory requirements related to a product or service.

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Lead auditor

Most publicly traded corporations typically have an internal auditing department, led by a Chief Audit Executive ("CAE"), with lead internal auditors managing small teams of internal auditors for one audit engagement.

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Legal person

A legal person (in legal contexts often simply person, less ambiguously legal entity) is any human or non-human entity, in other words, any human being, firm, or government agency that is recognized as having privileges and obligations, such as having the ability to enter into contracts, to sue, and to be sued.

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Level of measurement

Level of measurement or scale of measure is a classification that describes the nature of information within the values assigned to variables.

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List of public corporations by market capitalization

The following is a list of publicly traded companies having the greatest market capitalization.

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Management accounting

In management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions.

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Management auditing

Management Audit is a systematic examination of decisions and actions of the management to analyse the performance.

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Materiality (auditing)

Materiality is a concept or convention within auditing and accounting relating to the importance/significance of an amount, transaction, or discrepancy.

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Misselling

Misselling is the deliberate, reckless, or negligent sale of products or services in circumstances where the contract is either misrepresented, or the product or service is unsuitable for the customer's needs.

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Operational auditing

Operational Audit is a systematic review of effectiveness, efficiency and economy of operation.

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Peer review

Peer review is the evaluation of work by one or more people of similar competence to the producers of the work (peers).

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Performance audit

Performance audit refers to an independent examination of a program, function, operation or the management systems and procedures of a governmental or non-profit entity to assess whether the entity is achieving economy, efficiency and effectiveness in the employment of available resources.

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Public company

A public company, publicly traded company, publicly held company, publicly listed company, or public corporation is a corporation whose ownership is dispersed among the general public in many shares of stock which are freely traded on a stock exchange or in over the counter markets.

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Public Company Accounting Oversight Board

The (PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes–Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports.

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Qualitative property

Qualitative properties are properties that are observed and can generally not be measured with a numerical result.

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Quality audit

Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team.

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Regulatory compliance

In general, compliance means conforming to a rule, such as a specification, policy, standard or law.

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Reliability (statistics)

Reliability in statistics and psychometrics is the overall consistency of a measure.

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Risk based internal audit

Risk based Internal Audit (RBIA) is an internal methodology which is primarily focused on the inherent risk involved in the activities or system and provide assurance that risk is being managed by the management within the defined risk appetite level.

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Risk management

Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinator and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

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Risk-based auditing

Risk-based auditing is a style of auditing which focuses upon the analysis and management of risk.

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Sarbanes–Oxley Act

The Sarbanes–Oxley Act of 2002, also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management and public accounting firms.

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Stakeholder (corporate)

In a corporation, as defined in its first usage in a 1963 internal memorandum at the Stanford Research Institute, a stakeholder is a member of the "groups without whose support the organization would cease to exist".

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Statutory auditor

Statutory auditor is a title used in various countries to refer to a person or entity with an auditing role, whose appointment is mandated by the terms of a statute.

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Tax

A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.

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Technical audit

Technical Audit (TA) is an audit performed by an auditor, engineer or subject-matter expert evaluates deficiencies or areas of improvement in a process, system or proposal.

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Validity (statistics)

Validity is the extent to which a concept, conclusion or measurement is well-founded and likely corresponds accurately to the real world based on probability.

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References

[1] https://en.wikipedia.org/wiki/Audit

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