Term
|
Definition
| Accumulation and evaluation of EVIDENCE about information to determine the degree of correspondence between the INFORMATION and established CRITERIA, done by a competent, independent person |
|
|
Term
|
Definition
what is being audited, provided by client in a verifiable form
F/S tax returns etc |
|
|
Term
|
Definition
| rules by which info is recorded, what are we comparing the info to GAAP, IFRS, Tax Code |
|
|
Term
|
Definition
info used to determine correspondence
transactional data, written communication and observations by auditor |
|
|
Term
|
Definition
in fact- mental state
In appearance- viewable ties, financial/personal interest |
|
|
Term
|
Definition
report shows level of correspondence b/w info/criteria
provides an opinion
unqualified, qualified, disclaimer, adverse |
|
|
Term
|
Definition
| possibility that info provided in order to evaluate business risk is inaccurate |
|
|
