- Settore: Accounting
- Number of terms: 7464
- Number of blossaries: 0
- Company Profile:
mitigating, -noun ''mitigation'' is reducing the force or intensity, thus making less intense or powerful.
Industry:Accounting
A statement of what the CPA does not know as opposed to what the CPA believes (positive assurance). A statement that the CPA was "not aware of material modifications that should be made to financial statements for them to conform with U.S. generally accepted accounting principles" is negative assurance used in review reports.
Industry:Accounting
Having the power to influence. Most audit evidence is persuasive, but not conclusive.
Industry:Accounting
Having the ability to permeate. An error is pervasive if it is material to more than one of the primary financial statements.
Industry:Accounting
Expression of an opinion on an item in financial statements is not permitted as part of a disclaimer or adverse opinion on the financial statements as a whole because it would tend to overshadow or contradict a disclaimer of opinion or an adverse opinion.
Industry:Accounting
Audit planning is developing an overall strategy for conduct and scope of the audit. The nature, extent, and timing of planning vary with size and complexity of the entity, experience with the entity, and knowledge of the business. In planning the audit, the auditor considers the entity's business and its industry, its accounting policies and procedures, methods used to process accounting information, the planned assessed level of control risk, and the auditor's preliminary judgment about audit materiality.
Industry:Accounting
