- Industry: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
An audit opinion that the financial statements are in conformity with U.S. GAAP.
Industry:Accounting
If an auditor notices events that affect financial statements on which an audit report has been issued, they are considered when updating the report on the prior statements. If those statements are changed, the report says they have been restated and expresses the appropriate opinion. If an updated opinion differs from the previous opinion, an explanatory paragraph preceding the opinion paragraph explains that the report has been updated, discloses the date and type of opinion previously expressed, and events that caused the revision.
Industry:Accounting
A "service auditor" is the auditor of an organization that provides services such as data processing or pension trust administration to other organizations (the users). Auditors of the users (user auditors) rely on a report from the service auditor about controls in the service organization that apply to financial statements of the user organization they are auditing.
Industry:Accounting
Software control over input of data to a computer system. Data is compared with the type of data properly included in each input field, e.g., only letters in a name field.
Industry:Accounting
are presented in considerably less detail than complete financial statements.
Industry:Accounting
An assertion made by management that each asset and liability is recorded at an appropriate carrying value.
Industry:Accounting
A telecommunications network providing communication facilities, which enhance basic telecommunications services. They add value by passing, storing and converting messages. Also known as service providers and EDI service providers. Operated by a clearing house, an organization that provides message/file collection, routing and distribution service on behalf of other organizations.
Industry:Accounting
Transfer of possession but not title to goods. Title stays with the consignor, while the consignee has possession.
Industry:Accounting
The characteristic tested has many possible values (such as dollar value of inventory).
Industry:Accounting
