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A walkthrough is a scheduled meeting with the author in charge of the model or documents that are set to be reviewed. In addition to the authors, there is usually a group of senior technical staff and possibly business staff that help analyze the model. Typically, there is also a facilitator who is in charge of leading the meeting.
For example, an auditor may: physically examine inventory as evidence that inventory shown in the accounting records actually exists (existence assertion); inspect supporting documents like invoices to confirm that sales did occur (occurrence); arrange for suppliers to confirm in writing the details of the amount owing at balance date as evidence that accounts payable is a liability (rights ...
A disaster recovery plan ( DRP) is a documented process or set of procedures to execute an organization's disaster recovery processes and recover and protect a business IT infrastructure in the event of a disaster. [ 3] It is "a comprehensive statement of consistent actions to be taken before, during and after a disaster". [ 4]
Auditing. People and organizations. Development. Misconduct. v. t. e. The Uniform Certified Public Accountant Examination ( CPA Exam) is the examination administered to people who wish to become Certified Public Accountants in The United States of America. The CPA Exam is used by the regulatory bodies of all fifty states plus the District of ...
In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing a non-public company [ 1] and issuing a report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA ...
SAS 99 requires auditors to ask management questions about their awareness and understanding of fraud. Auditors will then make a decision as to whether they need to 'educate' management about fraud and the types of controls that will deter and detect fraud. The standard also requires auditors to make inquiries of the audit committee, internal ...
Operational acceptance testing (OAT) is used to conduct operational readiness (pre-release) of a product, service or system as part of a quality management system. OAT is a common type of non-functional software testing, used mainly in software development and software maintenance projects. This type of testing focuses on the operational ...
ISA 400 Risk Assessments and Internal Control is one of the International Standards on Auditing. It serves to require the auditor to understand the client's accounting system and internal control system and to assess control risk and inherent risk. The objective is to determine the nature, timing and extent of substantive procedures in order to ...