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.
References in periodicals archive ?
Global Banking News-July 11, 2019--Big four accounting firms fail UK audit test
M2 EQUITYBITES-July 11, 2019--Big four accounting firms fail UK audit test
BANKING AND CREDIT NEWS-July 11, 2019--Big four accounting firms fail UK audit test
The highest prevalence of risky drinkers, and the total score of the AUDIT test was found in students in their first academic year.
UNDUE BENEFIT TO RELIANCE & ESSAR: The purchase of diesel by state- run oil companies from private refiners failed the audit test. The CAG has sought renegotiation of the diesel price, claiming private refiners export petroleum products at prices lower than trade parity price (TPP) and this led to an undue benefit for private refiners Reliance and Essar in 2011- 12 worth ` 667 crore.
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.
Auditors who have already worked with advanced CAAT using character-delimited ASCII files or XML have witnessed how easy it is to conduct audit test procedures over 100% populations rather than using conventional sampling techniques.
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.
Auditors use various utilities to extract security and system access data from the NOS for audit test work.
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.
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.
If so, RPA software will not be able to execute the intended audit test. Consequently, the second stage in RPA implementation is for public accounting firms to create an audit data standard for each process that will be replaced by RPA.