Term
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Definition
| Evaluations of financial information made by an analysis of plausible relationships among both financial and nonfinancial data. |
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Term
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Definition
| An existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved when some future event occurs or fails to occur. |
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Term
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Definition
| The auditor's report is dual dated when a subsequent event occurs after the date on which the auditor has obtained sufficient appropriate audit evidence but before the financial statements are issued. |
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Term
| Engagement Quality Review |
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Definition
| A review by a quality review partner of the financial statements and audit report to ensure the audit was properly conducted and an appropriate report issued. |
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Term
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Definition
| An audit inquiry sent to the client's attorneys in order to obtain or corroborate information about litigation, claims, and assessments. |
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Term
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Definition
| A letter from the auditor to management making recommendations to the client based on observations during the audit; the letter may include topics relating to organizational structure and efficiency issues. |
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Term
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Definition
| A letter that corroborates oral representations made to the auditor by management and documents the continued appropriateness of such representations. |
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Term
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Definition
| An event or transaction that occurs after the balance sheet date but prior to the issuance of the financial statements and the auditor's reports that may materially affect the financial statements. |
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Term
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Definition
| The auditor's record of the work performed and the conclusions reached on the audit. |
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