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

COST OF SALES see COST OF GOODS SOLD.

BASE AMOUNT is the fundamental numerical assumption from which something is begun or developed or calculated or explained, e.g. base pay.

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