balance sheet audit
- Fina limited audit of the items on a company’s balance sheet in order to confirm that it complies with the relevant standards and requirements. Such an audit involves checking the value, ownership, and existence of assets and liabilities and ensuring that they are correctly recorded.
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balance-sheet audit — An audit limited to verification of the existence, ownership, valuation, and presentation of the assets and liabilities in a balance sheet. For example, the existence of a building would be satisfied by an inspection and an examination of the… … Accounting dictionary
Balance sheet — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Balance sheet accounts — Represent the financial institution s present assets and liabilities. They contain information on the actual balances at a given time. Balance sheet reports Include: Break even rates on assets Compensation statement balance confirmation … International financial encyclopaedia
Off-balance-sheet — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
Audit working papers — are the documents which keeping all audit evidences obtained during financial statements auditing. Audit working paper is to be able to support the audit works done in order, sufficient and assurance audit evidences have been obtained and… … Wikipedia
audit report — A document that summarizes the findings of an audit. An external audit report sets out an *audit opinion. Most systems of *Generally Accepted Auditing Standards have standardized formats for external audit reports and require explanations of any… … Auditor's dictionary
audit exemption — The exemption from statutory audit by a registered auditor that can be claimed by certain small companies. Companies with a turnover of not more than £1 million and a balance sheet total of not more than £1.4 million may be totally exempt from… … Accounting dictionary
audit exemption — The exemption from statutory audit by a registered auditor that can be claimed by certain small company Companies with a turnover of not more than £1 million and a balance sheet total of not more than £1. 4 million may be totally exempt from… … Big dictionary of business and management
audit — n 1.Commerce. examination, scrutiny, Inf. look at the books, investigation; review, check, analysis, inspection; accounting, verification, attestation, voucher. 2. statement, account, balance sheet. v 3. examine, scrutinize, Inf. look at the… … A Note on the Style of the synonym finder
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