Auditing

Auditing

The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.

Contributors in Auditing

Auditing

is a listing of goods or services requested from a supplier with specifications and desired delivery method. A company starts the purchase process internally with a requisition, which results in an ...

overall review

Accounting; Auditing

The objective of the overall review stage of the audit is to assess conclusions reached, and evaluate the overall financial statement presentation. The overall review includes reading the financial ...

confirm

Accounting; Auditing

Communication with outside parties to authenticate internal evidence.

value-added network

Accounting; Auditing

A telecommunications network providing communication facilities, which enhance basic telecommunications services. They add value by passing, storing and converting messages. Also known as service ...

consignment

Accounting; Auditing

Transfer of possession but not title to goods. Title stays with the consignor, while the consignee has possession.

variable sampling

Accounting; Auditing

The characteristic tested has many possible values (such as dollar value of inventory).

consistency

Accounting; Auditing

To achieve comparability of information over time, the same accounting methods must be followed. If accounting methods are changed from period to period, the effects must be disclosed.