Audit Investments Overview As auditors, we usually audit investments that the client has on their financial statements by testing various ...

Tracing Audit Overview Tracing is an audit procedure of inspecting source documents to the accounting records in order to ensure ...

Search for Unrecorded Liabilities Overview Search for unrecorded liabilities is the audit test that auditors perform to verify if the ...

Negative Price to Earning Ratio Price to earnings ratio is the financial ratio that measures company’s share price to its ...

Gross Profit Margin Gross Profit Margin is the profitability ratio measure by the percentage of gross profit over revenue. Gross ...

Accounting for Construction Contract Construction contract is the specific contract in which suppliers agree to construct an asset or a ...

Agreed Upon Procedures Overview Agreed-upon procedures engagement is a type of engagement which auditor performs certain procedures that are agreed ...

Review Engagement Overview Review engagement is the type of assurance engagement that auditors or professional accountants give a negative or ...

Risk of Material Misstatement Overview Risk of material misstatement is the risk that financial statements contain material misstatement but the ...

Activity Method Depreciation Activity Method Depreciation, also known as a unit of activity depreciation or activity-based depreciation, is the depreciation ...

Non-Controlling Interest (NCI) Non-controlling interest is the shares ownership which is less than 50% and has less control or influence ...

4 Types of Audit Report Overview Audit report is the report that auditors express an opinion on financial statements whether ...