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  2. Model Audit Rule 205 - Wikipedia

    en.wikipedia.org/wiki/Model_Audit_Rule_205

    §7(D)(1) is similar to SOX 203 in requiring the rotation of the lead audit partner, with a five-year “cool offperiod, after a five-year consecutive period with the audit of the insurer. In addition to this, Section 7(L)(1) addresses that a CPA firms senior manager or partner cannot be a part of the insurers leadership for one year prior ...

  3. Resources, Events, Agents - Wikipedia

    en.wikipedia.org/wiki/Resources,_Events,_Agents

    Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age. REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [ 1 ] and contained the concepts of resources, events and agents (McCarthy 1982).

  4. Percentage-of-completion method - Wikipedia

    en.wikipedia.org/.../Percentage-of-Completion_method

    The accounting for long term contracts using the percentage of completion method is an exception to the basic realization principle. This method is used wherein the revenues are determined based on the costs incurred so far. The percentage of completion method is used when: Collections are assured; The accounting system can: Estimate profitability

  5. SSAE 16 - Wikipedia

    en.wikipedia.org/wiki/SSAE_16

    Statement on Standards for Attestation Engagements no. 16 (SSAE 16) is an auditing standard for service organizations, produced by the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board, which supersedes Statement on Auditing Standards no. 70 (SAS 70) and has been superseded by SSAE No. 18. [1]

  6. Statements on Auditing Standards (United States) - Wikipedia

    en.wikipedia.org/wiki/Statements_on_Auditing...

    The American Institute of Certified Public Accountants began codifying the Statements on Auditing standards semiannually in 1976. The Codification of Statements on Auditing Standards is generally issued in January, and the U.S. Auditing Standards is issued as part of the AICPA Professional Standards in June of each year.

  7. Analytical procedures (finance auditing) - Wikipedia

    en.wikipedia.org/wiki/Analytical_procedures...

    Analytical procedures include comparison of financial information (data in financial statement) with prior periods, budgets, forecasts, similar industries and so on. It also includes consideration of predictable relationships, such as gross profit to sales, payroll costs to employees, and financial information and non-financial information, for examples the CEO's reports and the industry news.

  8. Social accounting and audit - Wikipedia

    en.wikipedia.org/wiki/Social_accounting_and_audit

    "Social auditing" Social Accounting and audit is a comprehensive triple bottom line planning and measurement method. [1]Social accounting and audit uses quantitative analysis of planned and actual measurement, ratio analysis for comparing trends over time, and qualitative analysis of constant comparison using ‘coding’ and ‘categorizing’ so that responses can be made and measured.

  9. Matching principle - Wikipedia

    en.wikipedia.org/wiki/Matching_principle

    An example is an obligation to pay for goods or services received, where cash is to be paid out in a later accounting period. The amount is deducted from accrued expenses when it is paid. Accrued expenses share characteristics with deferred income (or deferred revenue ), except that deferred income involves cash received from a counterpart ...