Audit Test

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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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Differences in data on round robin or audit tests may expose different levels of measurement uncertainty where the total of all tolerances of each aspect of a test could contribute to different data levels.
The incumbent will be entrusted the design, preparation, implementation and monitoring of audit tests of functional ability.
With the click of a button, The Audinator[TM] evaluates an Excel spreadsheet of any size and complexity with a sophisticated battery of audit tests, and logs the results of the analysis of error and risk on every single cell.
Given the audit department's size, automating testing of controls "would allow us time, with a small staff, to accomplish over 100 audit tests every week automatically, look at the results and engage the business process owners in looking at their own controls," Tourney says.
0 ships with standard audit tests for maintaining SOD protocols for most major enterprise software vendors, such as SAP, Oracle Financials, Ariba, J.
GSA's auditor did not detect the error because its fiscal year 2003 audit tests were not adequately designed to test the validity of GSA's transfers of construction costs between the two accounts.
The advent of international accounting standards such as IAS 39 and the growing importance and variety of derivatives used in risk management has focused debate on the pros and cons of the current and proposed hedge accounting standards and new audit tests.
Prior literature has measured the nature of audit evidence by looking at the use of specific tests and the total number of audit tests performed (e.
From these discussions, the engagement team should be in a better position to design audit tests responsive to the risks of fraud.
The key to designing effective audit tests is to perform an effective synthesis of the identified risks.
Procurement card administrators may have a database program which contains information useful for developing audit tests (in-state vs.
It also includes a description of the audit tests performed by the independent auditor, generally for a minimum period of six months.