The accumulation and evaluation of evidence about information to determine and report on the degree of correspondence between the information and established criteria. Auditing should be done by a competent, independent person.
The provisions of the act apply to publicly held companies and their audit firms, and include the requirement in section 404 that the external audit report on the effectiveness of the company's internal control over financial reporting.
Any information used by the auditor to determine whether the information being audited is stated in accordance with the established criteria. Could be oral testimony, written communications, electronic data.....
An independent professional service that improves the quality of information for decision makers.
A type of assurance service in which the CPA firm issues a report about the reliability of an assertion that is made by another party.
American Institute of Certified Public Accountants, a voluntary organization of CPAs that sets professional requirements, conducts research, and publishes materials relevant to accounting, auditing, management consulting services, and taxes