Audit Test

Audit Test

In accounting, an experiment measuring a small sample of a larger population. The experimenter may extrapolate the results to apply them to a larger population. For example, if a company determines that it spent $5,000 to attract 500 customers, it may estimate that it spends an average of $100 to attract any one customer.
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Tenders are invited for To conduct the mandatory Energy Audit Test of Unit-I & II (2X600MW) through a firm having BEE Accredited Energy Auditor as per the guidelines of BEE at RGTPP, Khedar, Hisar.
UNDUE BENEFIT TO RELIANCE & ESSAR: The purchase of diesel by state- run oil companies from private refiners failed the audit test.
14 January 2014 -- Boston-based loan marketplace DebtX said that it priced USD 10 trillion in loans in 2013 and that its DXMark loan valuation service has met the audit test under the Statement on Standards for Attestation Engagements 16.
But, by applying the simple audit test described above, the accounting profession could have mitigated its impact.
The first is the statewide "high-stakes" test administered as part of the Texas accountability system, while the second is a nationally-normed "low-stakes" test, intended as both an audit test and as a grade promotion tool.
Because sample size decisions depend partially on the audit test, we also run separate sample size regression models by type of test, including inventory test counts and accounts receivable confirmation tests.
With the new additions, Moehwald's full range of products for common rail testing and measurement now include production test benches for pumps, audit test benches for injectors, the CRI 2000 test bench for injectors, the CRP 2000 module for pump testing (both under Bosch license) and the CA 4000 application module for complete systems or injectors and pumps.
During the final stage of the audit, the auditor must evaluate the audit test results to determine if the accumulation of results of the applied audit procedures affect the risk assessment of material misstatement due to fraud made when planning the audit.
However, if a taxpayer fails an audit test, it must prove that the estimates made at the end of the year were reasonable, and the examining officer must consider such proof.
According to the CAG report, its audit test checked 20 capital works costing ` 160.
When the number of risk factors is controlled for, the level of the risk assessment provides no incremental explanatory power regarding audit test planning.
This finding suggests that there are differences in the evaluation of individual audit test results between correct and incorrect auditors.