- audit approach
- The strategy for an audit, or the manner of conducting an audit. Deciding a suitable audit approach is an essential part of the *audit planning process, and a common decision is the balance to be adopted between *compliance and *substantive testing. An audit approach is often determined by, among other factors, (i) the nature of the *auditee, (ii) the time available for the audit, (iii) the level of cooperation of the *auditee, and (iv) the sophistication of systems of *internal control. See also *"black box" audit approach.
Auditor's dictionary. 2014.
Look at other dictionaries:
black box audit approach — An *audit approach that sidesteps the technical complexities of a computerized processing system. A black box refers to a computer system ignored by an auditor, who focuses instead on a comparison of inputs with outputs. For example, an auditor… … Auditor's dictionary
Audit evidence — is evidence obtained during a financial audit and recorded in the audit working papers. [cite web |title=Audit evidence |publisher=abrema.net |date=undated |url=http://www.abrema.net/abrema/au ev g.html |accessdate=2007 08 07] * In the audit… … Wikipedia
Audit — For other uses, see Audit (disambiguation). Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management … Wikipedia
Audit committee — In a publicly held company, an audit committee is an operating committee of the Board of Directors, typically charged with oversight of financial reporting and disclosure. Committee members are drawn from members of the Company s board of… … Wikipedia
Information technology audit process — Information technology audit process:Generally Accepted Auditing Standards (GAAS)In 1947, the American Institute of Certified Public Accountants (AICPA) adopted GAAS to establish standards for audits. The standards cover the following three… … Wikipedia
SOFT audit — Integrated SOFT Audit is an integrated audit approach that focuses on the key and material components of four differing audit approaches relevant to an auditee, based on a detailed risk assessment performed annually. This approach integrates the… … Wikipedia
Sales Tax Audit — A sales tax audit is the examination of a company’s financial documents by a U.S. state’s tax agency to verify if they have collected the correct amount of sales tax from their customers. Purpose The purpose of a sales tax audit is to examine the … Wikipedia
Internal audit — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Clinical audit — is a process that has been defined as a quality improvement process that seeks to improve patient care and outcomes through systematic review of care against explicit criteria and the implementation of change . The key component of clinical… … Wikipedia
Joint audit — A joint audit is an audit on a legal entity (the auditee) by two or more auditors to produce a single audit report, thereby sharing responsibility for the audit. A typical joint audit has audit planning performed jointly and fieldwork allocated… … Wikipedia