CHIEF ACCOUNTING OFFICER Definition

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CHIEF ACCOUNTING OFFICER see CFO.

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CUT-OFF RATE is the predetermined maximum rate and/or minimum rate at which the subject is still acceptable, but where a rate above the proscribed higher or below the proscribed lower rate is no longer acceptable.

PARALLEL SIMULATION TESTING is the simultaneous performance of multiple operations. It provides evidence of the validity of processing if the second processing system yields the same results as the first.  Auditors use their own generalized audit software to process the same data as was processed by the client’s software.  If the output of the audit software is the same as the output of the client’s software that is evidence that the client’s software is performing properly.

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