|
SAS 99
{{Short description, Statutory Auditor Coderal Statement on Auditing Standards No. 99: Consideration of Fraud in a Financial Statement Audit, commonly abbreviated as SAS 99, is an auditing statement issued by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA) in October 2002. The original exposure draft was distributed in February 2002. Please see PCAOB AS 2401. SAS 99, which supersedes SAS 82, was issued partly in response to contemporary accounting scandals at Enron, WorldCom, Adelphia, and Tyco. The standard incorporates recommendations from various contributors including thInternational Auditing & Assurance Standards Board SAS 99 became effective for audits of financial statements for periods beginning on or after December 15, 2002. Key Components of SAS 99 Describes Fraud and its characteristics. SAS 99 defines fraud as an intentional act that results in a material misstatement in financial statements. There are two types of f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statement On Auditing Standards (USA)
In the United States, Statements on Auditing Standards provide guidance to external auditors on generally accepted auditing standards (abbreviated as GAAS) in regards to auditing a non-public companyAICPA Operating Policies, pg. 1 and issuing a Auditor's report, report. They are promulgated by the Auditing Standards Board of the American Institute of Certified Public Accountants (AICPA), which holds all copyright on the Standards. They are commonly abbreviated as "SAS" followed by their respective number and title. With the permission of the AICPA, the full text of Standards 1–101 has been posted on the website of the Digital Accounting Collection at the J.D. Williams Library of the University of Mississippi. Links to these full-text records appear in the List of Statements of Auditing Standards below. List of Statements of Auditing Standards Pre-clarified Statements on Auditing Standards Clarified Statements on Auditing Standards SAS No. 122, ''Clarification and Recodifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Technology Audit
An information technology audit, or information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure and business applications. The evaluation of evidence obtained determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the organization's goals or objectives. These reviews may be performed in conjunction with a financial statement audit, internal audit, or other form of attestation engagement. IT audits are also known as automated data processing audits (ADP audits) and computer audits. They were formerly called electronic data processing audits (EDP audits). Purpose An IT audit is different from a financial statement audit. While a financial audit's purpose is to evaluate whether the financial statements present fairly, in all material respects, an entity's financial position, results of operations, and cash flows in conformity to standard accou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud In The United States
In law, fraud is intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, such as obtaining a passport, travel document, or driver's licence. In cases of mortgage fraud, the perpetrator may attempt to qualify for a mortgage by way of false statements. Terminology Fraud can be defined as either a civil wrong or a criminal act. For civil fraud, a government agency or person or entity harmed by fraud may bring litigation to stop the fraud, seek monetary damages, or both. For criminal fraud, a person may be prosec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Technology Audit
An information technology audit, or information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure and business applications. The evaluation of evidence obtained determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the organization's goals or objectives. These reviews may be performed in conjunction with a financial statement audit, internal audit, or other form of attestation engagement. IT audits are also known as automated data processing audits (ADP audits) and computer audits. They were formerly called electronic data processing audits (EDP audits). Purpose An IT audit is different from a financial statement audit. While a financial audit's purpose is to evaluate whether the financial statements present fairly, in all material respects, an entity's financial position, results of operations, and cash flows in conformity to standard accou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FISMA
The Federal Information Security Management Act of 2002 (FISMA, , ''et seq.'') is a United States federal law enacted in 2002 as Title III of the E-Government Act of 2002 (, ). The act recognized the importance of information security to the economic and national security interests of the United States. The act requires each Government agency#United States, federal agency to develop, document, and implement an agency-wide program to provide information security for the information and information systems that support the operations and assets of the agency, including those provided or managed by another agency, Government contractor, contractor, or other source. FISMA has brought attention within the federal government to cybersecurity and explicitly emphasized a "risk-based policy for cost-effective security." FISMA requires agency program officials, chief information officers, and inspectors general (IGs) to conduct annual reviews of the agency's information security program an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Senate Bill 1386 (2002)
California S.B. 1386 was a bill passed by the California legislature that amended the California law regulating the privacy of personal information: civil codes 1798.29, 1798.82 and 1798.84. This was an early example of many future U.S. and international security breach notification laws, it was introduced by California State Senator Steve Peace on February 12, 2002, and became operative July 1, 2003. Sections Enactment of a requirement for notification to any resident of California whose unencrypted personal information was, or is reasonably believed to have been, acquired by an unauthorized person. This requires an agency, person or business that conducts business in California and owns or licenses computerized 'personal information,' to disclose any breach of security (to any resident whose unencrypted data is believed to have been disclosed). The bill mandates various mechanisms and procedures with respect to many aspects of this scenario, subject also to other defined p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Insurance Portability And Accountability Act
The Health Insurance Portability and Accountability Act of 1996 (HIPAA or the Ted Kennedy, Kennedy–Nancy Kassebaum, Kassebaum Act) is a United States Act of Congress enacted by the 104th United States Congress and signed into law by President Bill Clinton on August 21, 1996. It aimed to alter the transfer of healthcare information, stipulated the guidelines by which personally identifiable information maintained by the healthcare and healthcare insurance industries should be protected from fraud and theft, and addressed some limitations on Health insurance in the United States, healthcare insurance coverage. It generally prohibits Health professional, healthcare providers and businesses called covered entities from disclosing protected information to anyone other than a patient and the patient's authorized representatives without their consent. The bill does not restrict patients from receiving information about themselves (with limited exceptions). Furthermore, it does not proh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditing Standards Board
In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public accountants (CPAs) for non-public company audits.AICPA Operating Policies, pg. 1 Created in October 1978, it is composed of 19 members representing various industries and sectors, including public accountants and private, educational, and governmental entities. It issues pronouncements in the form of statements, interpretations, and guidelines, which all CPAs must adhere to when performing audits and attestations.Creation of the Auditing Standards Board, AICPA Operating Policies Appendix A, pg. 17, par. 2-6 History Prior auditing standards and authorities The American Institute of Certified Public Accountants has issued guidance to accountants and auditors since 1917, when, at the behest of the U.S. Federal Tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audit Procedures
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, roll forward prior year working papers, and evaluate the propositions in their auditing report. Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other commonly audited areas include: secretarial and compliance, internal controls, quality management, project management, water management, and energy conservation. As a result of an audit, stakeholders may evaluate and improve the effectiveness of ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Analytical Procedures (finance Auditing)
Analytical procedures are one of many financial audit procedures which help an auditor understand an entity's business and changes in the business, and to identify potential risk areas to plan other audit procedures. It can also be an audit substantive test involving the evaluation of financial information made by a study of plausible relationships among both financial and non-financial data. Analytical procedures also encompass such investigation as is necessary of identified fluctuations or relationships that are inconsistent with other relevant information or that differ from expected values by a significant amount. Use and stage Analytical procedures are performed at three stages of the audit: at the start, in the middle and at the end of the audit. These three stages are risk assessment procedures, substantive analytical procedures, and final analytical procedures. * Risk assessment procedures are used to assist the auditor to better understand the business and to plan the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
