Auditing Firm

Auditing Firm

A company that reviews activities to identify inefficiencies, reduce costs, and otherwise achieve organizational objectives. Auditing firms may investigate potential theft or fraud and ensure compliance with applicable regulations and policies. They also help to ensure the accuracy of reports. Audits are an essential part of a company's efficiency. See also: Internal auditor, External auditor.
References in periodicals archive ?
The schedules, statements and other data required to be prepared and typed by the auditing firm should comply with GAAP and GASB Financial Reporting Guidelines.
Most recently, the European Commission adopted a rule requiring "public interest entities" to rotate their auditing firm at least every 10 years (with certain exceptions) beginning in 2016.
Established in Qatar in 2004 by Managing Partner Hani Mukhaimer, Saoud Abdullah Auditing Firm has since developed into a full-service firm specialising in audit, tax, corporate finance, mergers and acquisitions, insolvency, estate planning, and transaction support.
The auditing firm and Moneyval committee will submit two separate reports.
According to the IMF, one auditing firm audits four of Israel's big five banks.
Current Sarbanes-Oxley Act of 2002 standards enable the auditing firm to maintain its relationship with the firm under review indefinitely.
The report's more than 30 recommendations to improve the sustainability of the public company auditing profession focus on three areas: improving accounting education and strengthening human capital; enhancing auditing firm governance, transparency, responsibility, communications, and audit quality; and increasing audit market competition and auditor choice.
In late May, for example, a midsize auditing firm told three listed firms that it would not serve as their auditor.
Due to their suspension of services on July 1, 2006, the auditing firm will resign as independent auditor for Sanix on that day.
Clearly, a contingency fee lease auditing firm will generally not waste time on a claim that is not legitimate because it is only compensated for successful results.
They informed Price that their boards had determined that it was not appropriate for the organization's auditing firm to simultaneously provide other consulting services.
Among the topics covered are provisions requiring audit committees to pre-approve non audit services to be performed by a company's auditing firm, as well as less frequently discussed, but at least as important, provisions aimed at preventing misrepresentations in financial statements.