5 Terms
Home > Industry/Domain > Accounting > Auditing
Auditing
The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.
Industry: Accounting
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Auditing
principal auditor
Accounting; Auditing
The auditor responsible for the greater portion of financial statements. The principal auditor may assume responsibility for the work of the other auditor or divide responsibility with the other ...
pro forma
Accounting; Auditing
The objective of pro forma financial information is to show effects on historical financial information as if a proposed event had occurred earlier.
probability
Accounting; Auditing
proportional to size (pps) sampling A sampling plan that bases the likelihood of selecting a particular account on the relative size of that account, so larger accounts have a greater probability of ...
probable
Accounting; Auditing
A contingent loss is probable if it is uncertain but likely to happen.
procedure
Accounting; Auditing
An action, such as a step performed as part of an audit program or as part of the client's internal controls.
processing control
Accounting; Auditing
An internal control included in computer software designed to assure that all transactions are handled as authorized and none omitted or added.
