Business

Clean Audit Report A “clean” audit report, indicating the auditor’s opinion that a client’s financial statements are fairly presented in accordance with agreed upon criteria…

Professional Ethics is defined as the personal and corporate rules that govern behavior within the context of a particular profession. Professional ethics are the professionally accepted…

Govt. Audit vs. Commercial Audit Government Audit: The government offices, departments, under-taking registered as companies, are also subject to independent financial audit. Usually, a statutory…

Continuous Audit An auditing process that examines accounting practices continuously throughout the year. Continuous audits are usually technology-driven and designed to automate error checking and…

Audit program is lists of audit procedures to be performed by audit staff in order to obtain sufficient appropriate evidence. It is an action plan…

Corroborating Information Audit evidence is a fundamental concept in auditing. Audit evidence refers to evidential matters states that evidential matters consists of underlying accounting data…

Audit Risk Alert The AICPA General Accounting and Auditing Developments Audit Risk Alert contains a summary of all of the substantive and primarily clarifying changes…

Segregation of duties is the concept of having more than one person required to complete a task. In business, the separation by sharing of more…

Power and Duties of Financial Statement Auditors A financial statement audit is the examination of an entity’s financial statements and accompanying disclosures by an independent…

Qualification and Disqualification of Financial Statement Auditors A financial statement audit is the examination of an entity’s financial statements and accompanying disclosures by an independent…