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8 Cards in this Set
- Front
- Back
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business risk
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the risk that an entity will fail to meet its objectives
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information risk
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the probability that the information circulated by a company will be false or misleading
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assurance
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lending of credibility to information
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attestation
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when assurance is provided for specific assertions made by mgmt
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Auditing
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systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between the assertions and established criteria and communicating the results to interested users
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attest engagement
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an engagement in which a practitioner is engaged to issue a report on subject matter, or an assertion about subject matter that is the responsibility of another party
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assurance services
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independent professional services that improve the quality of information, or its context, for decision makers.
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PCAOB Assertions
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1. Existence or Occurrence
2. Rights and Obligations 3. Completeness 4. Valuation or Allocation 5. Presentation and disclosure |
