audit opinion

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• audit opinion — An auditor’s conclusion on the extent to which *audit evidence refutes or confirms an *audit objective. *Independence is considered to be central to the credibility of audit opinions, especially in the context of an external audit: An auditor’s… …   Auditor's dictionary

• audit opinion — An opinion contained in an auditors report. It expresses a view as to whether or not the financial statements audited have been prepared consistently using appropriate accounting policies, in accordance with relevant legislation, regulations, or… …   Accounting dictionary

• audit opinion — An opinion contained in an auditors report It expresses a view as to whether or not the financial statements audited have been prepared consistently using appropriate accounting policies, in accordance with relevant legislation, regulations, or… …   Big dictionary of business and management

• audit — Systematic inspection of accounting records involving analyses, tests, and confirmations. The hearing and investigation had before an auditor. An audience; a hearing; an examination in general. A formal or official examination and authentication… …   Black's law dictionary

• audit report — A document that summarizes the findings of an audit. An external audit report sets out an *audit opinion. Most systems of *Generally Accepted Auditing Standards have standardized formats for external audit reports and require explanations of any… …   Auditor's dictionary

• audit — An independent review of an asset, liability, activity, organization, or set of *financial statements. Audits are usually performed to support or refute defined *audit objectives, and normally result in an *audit opinion on the matter under… …   Auditor's dictionary

• opinion — A document prepared by an attorney for his client, embodying his understanding of the law as applicable to a state of facts submitted to him for that purpose; e.g. an opinion of an attorney as to the marketability of a land title as determined… …   Black's law dictionary

• audit — An independent examination of, and the subsequent expression of opinion on, the financial statements of an organization. This involves the auditor in collecting evidence by means of compliance tests (tests of control) and substantive tests (tests …   Accounting dictionary

• audit — An independent examination of, and the subsequent expression of opinion on, the financial statements of an organization. This involves the auditor in collecting evidence by means of compliance tests (tests of control) and substantive tests (tests …   Big dictionary of business and management

• audit risk — 1. In external auditing, the *risk of giving an inappropriate *audit opinion on the *fair presentation of an organization’s *financial statements. The *sampling of transactions and the *compliance testing of controls cannot offer cast iron… …   Auditor's dictionary

• audit evidence — The evidence required by an auditor on which to base an audit opinion on the financial statements of the company whose accounts are being audited. Sources of information include the accounting systems and the underlying documentation of the… …   Accounting dictionary