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

ACCRUAL ACCOUNTING see ACCRUAL BASIS OF ACCOUNTING.

PERPETUAL is a fixed income security with no maturity date, such as a preferred stock with no sinking fund.

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