Accounting dictionary. 2014.
Audit substantive test — Substantive procedures (or substantive tests) are those activities performed by the auditor during the substantive testing stage of the audit that gather evidence as to the completeness, validity and/or accuracy of account balances and underlying … Wikipedia
substantive testing — Auditing procedures that evaluate the accuracy, completeness, and existence of amounts stated in *general ledger accounts and financial statements. Substantive testing involves the auditing of quantifiable amounts (individual transactions as well … Auditor's dictionary
compliance tests — Tests used during an audit to determine the effectiveness of a company s control procedures. The extent of compliance testing will depend upon the extent to which specific controls are relied upon. Results of compliance testing will indicate the… … Accounting dictionary
significance tests — A variety of statistical techniques are used in empirical social research in order to establish whether a relationship between sample variables may be inferred to apply to the population from which the sample was drawn. These techniques assess… … Dictionary of sociology
Information technology audit process — Information technology audit process:Generally Accepted Auditing Standards (GAAS)In 1947, the American Institute of Certified Public Accountants (AICPA) adopted GAAS to establish standards for audits. The standards cover the following three… … Wikipedia
Financial audit — A financial audit, or more accurately, an audit of financial statements, is the examination by an independent third party of the financial statements of a company or any other legal entity (including governments), resulting in the publication of… … Wikipedia
Detection Risk — The chance that an auditor will not find material misstatements relating to an assertion in an entity s financial statements through substantive tests and analysis. Detection risk is the risk that the auditor will conclude that no material errors … Investment dictionary
audit — An independent examination of, and the subsequent expression of opinion on, the financial statements of an organization. This involves the auditor in collecting evidence by means of compliance tests (tests of control) and substantive tests (tests … Accounting dictionary
audit evidence — The evidence required by an auditor on which to base an audit opinion on the financial statements of the company whose accounts are being audited. Sources of information include the accounting systems and the underlying documentation of the… … Accounting dictionary
audit programme — A document listing the individual audit tests to be performed to achieve an audit strategy. The tests will check that the accounting system operates in the manner recorded. For example, a credit sales transaction will be traced through to payment … Accounting dictionary
