AUDIT STRATEGY Definition

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AUDIT STRATEGY is a game plan to attack audit issues before they are raised. Reasons and justifications for all positions must be understood and the foundation laid for taking the position.

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PARALLEL PROCESSING is the simultaneous performance of multiple operations, usually in reference to computer systems.

ACCOUNTING CONCEPTS are the assumptions underlying the preparation of financial statements, i.e., the basic assumptions of going concern, accruals, consistency and prudence.

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