AUDIT OBJECTIVE Definition

Bookmark and Share

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.

Learn new Accounting Terms

PIECEMEAL OPINION is an expression of an opinion on an item in financial statements that is not permitted as part of a disclaimer or adverse opinion on the financial statements as a whole because it would tend to overshadow or contradict a disclaimer of opinion or an adverse opinion.

OEM is an acronym for Original Equipment Manufacturer.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.