HORIZONTAL COMBINATION Definition

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HORIZONTAL COMBINATION is a business combination of companies with similar functions in the production or sale of comparable products.

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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.

SALES TURNOVER is the total amount sold within a stipulated time period, usually 12 months. Sales turnover is usually expressed in monetary terms but can also be in total units of stock or products sold.

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