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

SUBSCRIPTION, in securities, is an agreement to buy a new issue of securities.

NET SALES TO GROSS SALES shows the percent of all transactions that may be considered as "good" net transactions. Differences may arise from returns, bad product, or other sales concessions.

Suggest a Term

Enter Search Term

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