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  2. Generally Accepted Auditing Standards - Wikipedia

    en.wikipedia.org/wiki/Generally_Accepted...

    In the United States, the Public Company Accounting Oversight Board develops standards (Auditing Standards or AS) for publicly traded companies since the 2002 passage of the Sarbanes–Oxley Act; however, it adopted many of the GAAS initially. The GAAS continues to apply to non-public/private companies.

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

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

    Consideration of Fraud in a Financial Statement Audit full-text: October 2002 100: Interim Financial Information full-text: November 2002 101: Auditing Fair Value Measurements and Disclosures full-text: January 2003 102: Defining Professional Requirements in Statements on Auditing Standards full-text: December 2005 103: Audit Documentation full ...

  4. Financial audit - Wikipedia

    en.wikipedia.org/wiki/Financial_audit

    The auditing firm's responsibility to check and confirm the reliability of financial statements may be limited by pressure from the audited company, who pays the auditing firm for the service. The auditing firm's need to maintain a viable business through auditing revenue may be weighed against its duty to examine and verify the accuracy ...

  5. Corporate sourcing - Wikipedia

    en.wikipedia.org/wiki/Corporate_sourcing

    Corporate sourcing refers to a system where divisions of companies coordinate the procurement and distribution of materials, parts, equipment, and supplies for the organization. This is a supply chain, purchasing/procurement, and inventory function. This enables bulk discounting, auditing, and Sarbanes-Oxley compliance.

  6. Chart of accounts - Wikipedia

    en.wikipedia.org/wiki/Chart_of_accounts

    A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...

  7. Model audit - Wikipedia

    en.wikipedia.org/wiki/Model_Audit

    The objective of the model audit should be to the reduce financial risk that is being taken on by under [clarification needed] the transaction to which the financial model relates. As such, it is more important to ensure that the model audit has the proper scope, and is undertaken using a robust methodology, to identify material errors than to ...

  8. Materiality (auditing) - Wikipedia

    en.wikipedia.org/wiki/Materiality_(auditing)

    These methods offer a suggested range for the calculation of materiality. Based on the audit risk, the auditor will select a value inside this range. [15] [failed verification] 0.5% to 1% of gross revenue; 1% to 2% of total assets; 1% to 2% of gross profit; 2% to 5% of shareholders' equity; 5% to 10% of net profit.

  9. Financial statement analysis - Wikipedia

    en.wikipedia.org/wiki/Financial_statement_analysis

    Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement , balance sheet , statement of cash flows , notes to accounts and a statement of changes in equity (if ...