Aduti
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| adverse Opinion | show 🗑
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| associated (association) with financial stmts | show 🗑
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| audi-tee | show 🗑
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| circumstance-imposed scopre limitation | show 🗑
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| show | the auditor who audits divisions, subsidiaries, or components that are included in the group of financial statements
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| show | the date on which auditors have obtained sufficient appropriate evidence to support their opinion.
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| departure from GAAP | show 🗑
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| disclaimer of opinion | show 🗑
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| division of responsibility | show 🗑
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| show | a paragraph added to an auditors' report that providers information fundamental to users' understanding of financial stmts (such as consistency, going-concern uncertainties, or justified departures from GAAP)
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| show | a paragraph added to auditors report that either provide info fundamental to users' understanding of find stmts (emphasis-of-matter) or relevance to user's understanding of audit, auditor's responsibility, or auditor's report (other-matter-paragraph)
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| going-concern uncertainty | show 🗑
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| group auditors | show 🗑
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| group financial statements | show 🗑
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| integrated report | show 🗑
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| show | paragraph in auditor's report tha refers to the auditors report on the effectiveness of the entity's internal control over fina rptg
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| introductory paragraph | show 🗑
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| justified departure from GAAP | show 🗑
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| mitigating factos | show 🗑
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| show | any opinion other than an unqualified opinion on an entity's fin an stmts (qualified, adverse opinion, or disclaimer opinion)
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| opinion paragraph | show 🗑
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| show | a paragraph added to the auditor's report that expresses the auditors' opinion on whether the financial stmts are presented in conformity with GAAP
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| show | issued when auditors conclude that, with the EXCEPTION of one or more issues(s), the financial stmt present the finan condition, results of opera., and cash flows in conform with GAAP. Issued for material departures from GAAP & mater scope limitations
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| show | copy of previously-issued report that auditors provide or gran clients permission to use in another document after its original date; REPORT NOT MODIFIED to consider events occurring subsequent to date of original rpt
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| report on financial statements and related disclosures | show 🗑
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| show | report that expresses an opinion on whether the entity's finan stmts & disclosures are prepared in conformity with GAAP
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| show | report that expresses an opinion on effectiveness of entity's internal control over financial reporting
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| scope limitation | show 🗑
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| scope paragraph | show 🗑
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| show | issued when the auditors conclude that the financial stmts present the financial condition, results of operations, & cash flows IN CONFORMITY WITH GAAP
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| updated report | show 🗑
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| show | method used in an engagement in which users (clients) participate in determining the scope procedures performed by the accountants
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| appropriate financial reporting framework | show 🗑
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| assurance services | show 🗑
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| attestation | show 🗑
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| show | special purpose framework that include no accruals
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| show | acctg service in which practitioner assists in assembling information that is representation of mngt but provides no assurance
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| show | an attestation engagement similar to nature to an audti
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| show | communication terminology required by Securities & Exchange commission for companies to use to provide fin an stmts info that has a computer-readable engagement identifying tag for each individual item of data
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| show | prospective financial information reflecting an entity's estimates of what is LIKELY to occur in a future period
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| financial projection | show 🗑
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| show | refers to financial info or stmts covering a period less than a full year or for a 12-month period ending on a date other than entity's fiscal year end
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| management's discussion and analysis | show 🗑
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| modified cash basis accounting | show 🗑
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| show | description of financial information reflecting historical data as if a certain transaction had occurred
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| show | person/persons, either as individual or representatives of entity, responsible for the subject matter of an attestation engagement
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| review | show 🗑
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| review evidence | show 🗑
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| show | an organization or segment of it that provides services to user entities that are likely to be relevant to user entities' internal controls as it relates to finan rptg
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| show | coherent acctg framework in which substantially all important finan measurements are governed by criteria other than GAAP or IFRS
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| show | triple-botton-line of economic viability, social responsibility, and environmental responsibility
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| show | assurance function that reviews entity's computer system to provide confidence to busi partners & customers concerning security, privacy & confidentiality of info in addition to system availability & processing integrity
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| trust service | show 🗑
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| show | assurance function designed to reduce the concerns of Internet susers regarding existence of a company & reliability of key business information placed on its website
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| show | (in moral philosophy): The emphasis on an individual act a it is affected by the specific circumstances of a situation
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| categorical imperative | show 🗑
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| commission | show 🗑
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| contingent fee | show 🗑
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| covered member | show 🗑
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| show | (in moral philosophy): judicious combination of the imperative and utilitarian principles; to act as one thinks others should act in a similar circumstance
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| show | mental attitude & the appearance that auditor is not influenced by others in judgements & decisions
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| referral fee | show 🗑
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| rule-utilitarian | show 🗑
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| show | quality control reviews & disciplinary actions conducted by fellow CPAs-professional peers
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| show | numeric distance from the estimated population value in which the true (but unknown) population value may lie with a given probability; used to adjust sample estimate to control exposure to sampling risk
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| show | a form of selection used to determine the extent to which some characteristics (attribute) occurs within a population of interest; used by auditors during test of controls
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| audit risk | show 🗑
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| audit sampling | show 🗑
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| audited balance | show 🗑
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| show | amount which an account balance or component should be recorded, assuming no departures form the appropriate reporting framework (GAAP/IFRS)
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| block selection | show 🗑
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| show | an approach that uses the laws of probability and the central limit theorem to provide an estimate of either the amount of misstatement or the true balance of an account balance/class transaction
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| show | likelihood that the true population value lies within the precision interval
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| show | likelihood that the auditors' substantive procedures will fail to detect a material misstatement that exist within an account balance or class of transaction
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| show | audit procedure used as both a test of controls and substantive test
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| show | method of selecting sample items in an unstructured manner but without any intentional bias
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| monetary unit sampling (MUS) | show 🗑
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| show | example that differs substantially from the population on one or more key characteristics of interest from which it is drawn
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| non-sampling risk | show 🗑
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| non-statistical sampling | show 🗑
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| show | entire group of items about which a conclusion is desired in a sampling applicatio
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| show | likelihood that the decision made based on the sample will differ from decision that would have been made if the entire population by the necessary sample size
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| show | a range around the sample estimate that has a retain likelihood (equal to reliability) of including the true population value
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| show | method of choosing sample items so that every combination of some number of items in population has an equal probability of being chosen
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| show | proportion at which internal control activities are not functioning as intended
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| show | likelihood that the true population value lies within the precision interval
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| show | likelihood that the auditors' sample will provide evidence that the client's controls are not functioning effectively when they are functioning effectively
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| show | likelihood that the auditors' sample will provide evidence that the client's controls are functioning effectively when they are functioning effectively
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| risk of incorrect rejection | show 🗑
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| risk of overreliance (risk of assessing control risk too low) | show 🗑
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| risk of underreliance (risk of assessing control risk too high) | show 🗑
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| show | subset of items drawn from a population of interest
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| show | difference between the recorded account balance and the audited account balance
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| sampling | show 🗑
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| sampling interval | show 🗑
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| show | the likelihood that the decision made based on the sample will differ from the decision that would have been made if the entire population had been examined
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| show | measure of the variability of the population
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| standard error of the mean (standard deviation) | show 🗑
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| show | a plan that applies the laws of probability to select items for examination and evaluated the results; allows an individual to control the exposure to sampling risk
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| systematic random selection (systematic selection) | show 🗑
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| show | method of choosing sample items in which a starting point is selected and a fixed number of items are bypassed between selections
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| show | maximum amount by which an account balance or class of transactions can be misstated and be accepted by the audit team as being fairly presented
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| show | maximum proportion of variability the audit team allows without modifying the planned reliance on an internal control policy or procedure
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| show | method of choosing items in which all items in the population are assigned a number and selected based on random numbers picked from a random number table or generated from a computer program
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| show | amount that has (1-risk of incorrect acceptance) probability of equaling or exceeding the try amount of misstatement in the population
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| upper limit rate of deviation (ULRD) | show 🗑
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| variable sampling | show 🗑
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Created by:
edna1118
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