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The Data Collection Form (Form SF-SAC) is a worksheet which recipients must complete online and include with the Single Audit reporting packages sent to the FAC. [4] The worksheet is divided into three parts, and is an important tool for the FAC because it summarizes the entire Single Audit results of a recipient in a few pages, which allows for easier and faster sorting and categorizing.
A Single Audit encompasses an examination of a recipient's financial records, financial statements, federal award transactions and expenditures, the general management of its operations, internal control systems, and federal assistance it received during the audit period (the time period of recipient operations examined in the Single Audit ...
Without it, auditors would need to research many laws and regulations for each single program of a recipient to determine which compliance requirements are important to the Federal Government. For Single Audits, the Supplement replaces any agency audit guides and other audit requirement documents for individual Federal programs. [1]
Audit log: Specifies whether the product logs activity performed by the user (the auditor) for later reference (e.g., inclusion into audit report). Data graph : Specifies whether the product provides graphs of results.
The financial report is produced as a Microsoft Word or Microsoft Excel document, and a "Tagging Program" is used to add the XBRL concept metadata and to export the document as Inline XBRL. With large and complex financial statements, a single iXBRL file may be too large for a web browser to handle.
SAF-T (Standard Audit File for Tax) is an international standard for electronic exchange of reliable accounting data from organizations to a national tax authority or external auditors. The standard is defined by the Organisation for Economic Co-operation and Development (OECD).
The objectives of the organisation, defined in Article 1 of its Statutes, are to promote professional cooperation among SAI members and other organizations, [10] to encourage the exchange of information and documentation, to advance the study of public sector audit, to stimulate the creation of university professorships in this subject and to work towards the harmonisation of terminology in ...
Database auditing involves observing a database to be aware of the actions of database users. Database administrators and consultants often set up auditing for security purposes, for example, to ensure that those without the permission to access information do not access it.