| Menu | |
|
: Home |
|
| Search | |
|
|
Definitions and Terminology
A
B C
D E
F G
H I
J K
L M
N O
P Q
R S
T U
V W
X Y
Z
Audit engagement
In an audit engagement, the practitioner provides a high, although not absolute, level of assurance by designing procedures so that, in the practitioner’s professional judgement, the risk of an inappropriate conclusion is reduced to a low level through procedures such as inspection, observation, enquiry, confirmation, recalculation, reperformance and analytical procedures. Use of the term ‘high level of assurance’ refers to the highest reasonable level of assurance a practitioner can provide concerning a subject matter. Absolute assurance is not attainable as a result of factors such as the use of judgement, the use of testing, the inherent limitations of control and the fact that much of the evidence available to the practitioner is persuasive rather than conclusive in nature. Assurance is also influenced by the degree of precision associated with the subject matter itself.
source: ITAF, ISACA, 2008
| Copyright 2006-2008. All Rights Reserved. | Something missing on this page? Let us know |