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Accounting Records

The records of initial entries and supporting, the records of initial entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers; journal entries, and other adjustments to the financial statements that are not reflected in formal journal entries; and records such as work sheets and spreadsheets supporting cost allocations, computations, reconciliations, and disclosures

Analytical Procedures

evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data


expressed or implied representations by management regarding the recognitions, measurement, presentation, and disclosure of information in the financial statements and related disclosures

Audit Documentation (working papers)

The auditor's principal record of the work performed and the basis for the conclusions in the auditor's report. It also facilitates the planning, performance, and supervision of the engagement and provides the basis for the review of the quality of the work by providing the reviewer with written documentation of the evidence supporting the auditor's significant conclusions

Audit Evidence

all the information used by the auditor in arriving at the conclusions on which the audit opinion is based, and includes the information contained in the accounting records underlying the financial statements and other information such as minutes of meetings; confirmations from third parties; industry analyst's reports; control manuals; information obtained by the auditor through audit procedures such as inquiry, observation, and inspection

Audit Procedures

specific acts performed as the auditor gathers evidence to determine if specific audit objectives are being met


The process of obtaining and evaluating a direct communication from a third party in response to a request for information about a particular item affecting financial statement assertions


Seeking information of knowledgeable persons, both financial and nonfinancial, throughout the entity or outside the entity

Inspection of records and documents

Examination of internal or external records or documents that are in paper form , electronic form, or other media

Inspection of tangible assets

Physical examination of tangible assets


Process of watching a process or procedure being performed by others

Other Information

audit evidence that includes minutes of meetings; confirmations from third parties; industry analysts' reports; comparable data about competitors (benchmarking); controls manuals; information obtained by such audit procedures as inquiry, observation, and inspection; and other information developed by, or available to, the auditor that permits the auditor to reach conclusions through valid reasoning


determination of the mathematical accuracy of documents or records

Relevance of Evidence

The relevance of audit evidence refers to its relationship to the assertion or to the objective of the control being tested

Reliability of Evidence

The diagnosticity of evidence; that is, whether the type of evidence can be relied on to signal the true state of the assertion


the auditor's independent execution of procedures or controls that were originally performed as part of the entity's internal control, either manually or through the use of computer-assisted audit technologies


reviewing accounting data to identify significant or unusual items; including the identification of anomalous individual items within account balances or other client data through the scanning or analysis of entries in transaction listings, subsidiary ledgers, general ledger control accounts, adjusting entries, suspense accounts, reconciliations, and other detailed reports

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