AUDIT OBJECTIVE Definition

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AUDIT OBJECTIVE is when in obtaining evidence in support of financial statement assertions, the auditor develops specific audit objectives in light of those assertions. For example, an objective related to the completeness assertion for inventory balances is that inventory quantities include all products, materials, and supplies on hand.

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B/D is Brought Down (T-accounts).

PREVENTATIVE CONTROL is a control designed to avoid an unintended event.

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