Term
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Definition
| Evaluations of financial information made through analysis of plausible relationships among both financial and nonfinancial data. |
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Term
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Definition
| Controls that apply to the processing of specific computer applications and are part of the computer programs used in the accounting system. |
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Term
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Definition
| Expressed or implied representations by management that are reflected in the financial statement components. |
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Term
| Computer-Assisted Audit Techniques (CAATs) |
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Definition
| Computer programs that allow auditors to test computer files and databases. |
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Term
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Definition
| Controls that relate to the overall information-processing environment and have a pervasive effect on the entiy's computer operations. |
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Term
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Definition
| The auditor's decision to rely on the entity's controls, test those controls, and reduce the direct tests of the financial statement accounts. |
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Term
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Definition
| Costs assigned to products based on expected costs, which may differ from actual costs. |
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Term
| Substantive Tests of Transactions |
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Definition
| Tests to detect errors or fraud in individual transactions. |
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Term
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Definition
| Audit procedures performed to test the operating effectiveness of controls in preventing or detecting and correcting material misstatements at the relevant assertion level. |
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