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Unformatted text preview: Thinking outside the box (creativity, innovation) Coping with ambiguous, complex situations without a clear solution and taking an action What is an Audit? What are the essential elements of all audits? Does it require a person? Is judgment required? How many people are required? Must it involve only quantifiable information relating to economic events? Must there be a reporting relationship? A Comprehensive Definition of Auditing Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertion and established criteria and communicating the results to interested users. ASOBAC 1973...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08