Auditing Procedure

Auditing Procedure

Any tactic used by an auditor to identify inefficiencies, reduce costs, and otherwise achieve organizational objectives. Examples of auditing procedures include reviewing documents, interviewing officials and checking irregularities. See also: Auditing process, Audit, Attest function.
References in periodicals archive ?
What makes Bell and Ponemon's innovation so newsworthy is that for the first time in history, the ethics auditing procedure would be carried out not by operatives in professional goody-two-shoes organizations such as the CEP, but by employees of Bix Six accounting firms.
Identifies six factors auditors should consider in determining the nature and extent of the documentation appropriate for a particular audit area or auditing procedure.
The Institute set up the Committee on Auditing Procedure (later the Auditing Standards Board) to establish guidance in this area.
The decision to change auditors was not the result of any disagreement between the Company and Horwath Orenstein on any matter of accounting principles, practices, financial disclosure, or auditing procedure.
96, Audit Documentation Nature and extent of documentation Provides no explicit guidance Identifies six factors the auditor other than a mention of some should consider in determining factors at the engagement level the nature and extent of the that affect the auditor's judgment documentation for a particular regarding the quantity, type and audit area or auditing procedure.
Confirmation of accounts receivable has been a nearly sacrosanct auditing procedure for over 50 years.
An Auditing Procedure Study (APS), Implementing SAS No.
The AICPA also is releasing an auditing procedure study (APS) prepared by the task force.
The second initiative in practice standardization established the committee on auditing procedure in 1939, which issued pronouncements addressing the auditing problems revealed in the 1939 McKesson & Robbins case.
Under certain circumstances, plan management is allowed to instruct the auditor to limit the scope of auditing procedures on investment information that has been certified by qualified institutions as complete and accurate.
Because the subcommittee noted that USAID's and NASA's performance and accountability report (PAR) reporting on improper payments and recovery auditing was minimal, GAO was asked to review both agencies' IPIA risk assessment methodologies, recovery auditing procedures, and actions under way to improve their IPIA and recovery audit reporting.
The Interpretations clarify that in circumstances in which the auditor determines that the nature and extent of auditing procedures should include testing the measurement of investments in securities (or interests in a trust that holds investments in securities), simply receiving a confirmation from a third party (including a trustee) does not in and of itself constitute adequate audit evidence with respect to the valuation assertion.