Exam 3 Word List (8 9 10) - Types of audit tests Procedures...

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Types of audit tests Procedures to gain an understanding of the client and internal control structure Tests of controls Substantive tests Analytical procedures Substantive tests of details Substantive tests of details of transactions Substantive tests of details of balances Planning First standard of fieldwork Client business risk Acceptable audit risk Audit risk Inherent risk Factors affecting acceptable audit risk Factors affecting inherent risk Client acceptance Users and uses of financial statements Engagement letter Staffing needs Need for specialists Qualities of a specialist Business and industry considerations Strategic systems approach Industry and environment Inherent risks of operating in industry Types of transactions Accounting requirements Regulatory environment Business operations and practices Plant tour Related parties Management and governance Tone at the top Corporate charter Bylaws Board meeting minutes Objectives and strategies Reliability of financial reporting
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  • Spring '11
  • SMITH
  • fieldwork Client, Accounting requirements Regulatory environment Business operations, fieldwork Auditor, Ctrls

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