Auditing and Assurance

Auditing and assurance pages explain the vocabulary used when someone tests whether accounting records and reports can be trusted. The section connects evidence, materiality, documentation, and assurance work back to the underlying accounting system.

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• Materiality
• Audit Trail
• Internal Control
• General Ledger

In this section

• Audit Trail
  Sequence of source documents, system records, and ledger evidence that lets users trace a transaction from origin to reporting.
• Materiality
  Threshold concept used to judge whether an omission or misstatement could influence the decisions of financial-statement users.