AUDITING STANDARDS Definition

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AUDITING STANDARDS provide minimum guidance for the auditor that helps determine the extent of audit steps and procedures that should be applied to fulfill the audit objective. They are the criteria or yardsticks against which the quality of the audit results are evaluated.

Learn new Accounting Terms

PROMISSORY NOTE, usually just called a note, is a NEGOTIABLE INSTRUMENT wherein the maker agrees to pay a specific sum at a definite time.

FMR see FINANCING MARGIN RATIO.

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