financial audit

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Related to Financial statement audit: operational audit
  • noun

Words related to financial audit

an attestation that the client's financial statement is accurate

References in periodicals archive ?
Federal government financial statement audits test the IT systems using the Federal Information System Control Audit Manual (FISCAM) which is based on the NIST SP 800-53.
Categories: June 30, 2010, Accounting, Agency evaluation, Auditing procedures, Auditing standards, Documentation, Financial analysis, Financial management, Financial records, Financial statement audits, Financial statements, Information management, Internal audits, Internal controls, Materiality, Monitoring, Performance measures, Reporting requirements, Tax administration
The financial statement audit is designed to vouch for the reliability of the financial statements, not the soundness of the finances they portray.
We have a long-standing good relationship with PricewaterhouseCoopers, who will continue to perform the financial statement audit for the Company," added Schroeder.
It provided guidance on the consideration of material fraud in a financial statement audit.
After all, no one wants to have problems verifying the fixed assets records during the financial statement audit.
SAS 82, titled Consideration of Fraud in a Financial Statement Audit that is effective this year, requires that auditors "prepare a plan and perform an audit to obtain reasonable assurances about whether the financial statements are free of material misstatement; whether caused by error or fraud.
The Knowledge-Based Audit (KBA) is a risk-based audit methodology that emphasizes using knowledge of the entity to make the risk assessments in connection with a financial statement audit.
The purpose of this Request for Proposals is to establish a contract through competitive negotiation for a Certified Public Accounting Firm to perform a financial statement audit, which includes a report on internal control and compliance and, if applicable, a Single Audit of the Virginia Port Authority (VPA) and a financial statement audit of Virginia International Terminals (VIT).
To promote greater comprehension of a user's understanding of the nature of a financial statement audit or the level of assurance that can be derived from an audit, the AICPA, the American Accounting Association and the International Auditing and Assurance Standards Board have joined forces to launch a research initiative that will provide a better understanding of users' perceptions of an unqualified auditor's report.
99, Consideration of Fraud in a Financial Statement Audit, should find helpful the nearly 130 pages of illustrative policies and procedures in the section titled "Internal Control Analysis, Documentation and Recommendations"; the material also is available on a companion Web site.
55, Consideration of the Internal Control in a Financial Statement Audit, as Amended.
The financial statement audit is to determine whether (1) the statements present fairly the financial position, results of operations, and cash flow or changes in financial positions in accordance with generally accepted accounting principles, and (2) whether the City of Bowie has complied with laws and regulations for those transactions and events that may have a material effect on the financial statements.
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