Full-Population Testing
Applying a procedure to every transaction in a population rather than a sample — made practical by data analytics, and a different basis for a conclusion than a projected sample result.
Related terms
- Form ADT-1
The form filed with the Registrar of Companies to notify the appointment of a statutory auditor, required within a specified period of the appointment being made.
- Fraud Triangle
A model explaining the three conditions typically present when fraud occurs — pressure/incentive, opportunity, and rationalisation — used to guide fraud risk assessment.
- General Ledger
The complete set of accounts recording every financial transaction a business enters into, from which the trial balance is extracted.
- Going Concern
The assumption that an entity will continue to operate for the foreseeable future, without any intention or necessity of liquidation — the auditor evaluates whether this assumption remains appropriate.
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231 terms in total, or go deeper with working procedures and worked examples in the resource library.