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Unformatted text preview: The Demand for Audit The and Other Assurance Services Services Chapter 1 Highlights
1-1 Distinguish Between Auditing and Accounting
Accounting is the recording, classifying, and summarizing of economic events for the purpose of providing financial information used in decision making. Auditing is determining whether is recorded information properly reflects the economic events that occurred during the accounting period.
1-2 Nature of Auditing Nature
Auditing is the accumulation and evaluation evaluation of evidence about information to determine and report on the degree of correspondence and degree between the information and established criteria. b...
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This note was uploaded on 11/15/2010 for the course BUSI BUS taught by Professor Gg during the Spring '10 term at CUNY Baruch.
- Spring '10