SOCIAL CAPITAL Definition

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SOCIAL CAPITAL is networks, together with shared norms, values and understandings which facilitate cooperation within or among those groups for mutual benefit.

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SUBJECT TO, in accounting, was a type of qualified audit opinion that was worded "In our opinion, subject to....." Auditors are no longer permitted to issue such opinions.

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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