Бизнес-планирование. Учебник для бакалавров

7)the act of allowing; sanction;­ toleration;

8)something allowed

American Accounting Association, the abbrev. AAA. AmE an organization that supports worldwide excellence in accounting education, research, and practice

Commentary

The AAA is the primary progessional association for accounting academics in the United States. It was formed in

1916 under the name Ameri- can Association of University Instructors in Accounting.

The organization assumed its current name in1936 and re- mains a voluntary organiza- tion comprised of individuals interested in accounting education and research. It pro- duces 17world-class scholarly journals covering topics, such as behavioral accounting, auditing, and tax research.

American Institute of Certi- fied Public Accountants, the abbrev. AICPA AmE with over

431,000 members in 130 coun- tries, it is the largest profes- sional organization of Certified

Public Accountants(CPAs) in

the United States of America.

American Institute of Certified

Public Accountants, the

Commentary

The AICPA has been serving the public interest since 1887. Approximately 40 % of its members are engaged in the practice of public accounting, in areas such as auditing, accounting, taxation, general business consulting, business valuation, personal financial planning and business tech- nology. The majority (60 %) of its members are CPAs who work in industry, government, and education. However, be- cause of the Institute’s major role in self-regulation of most practicing CPAs, a large part of the Institute’s resources are devoted to this function and to related programs to help CPAs maintain professional competence. The two most visible CPA practice functions are tax practice and the independent audits and similar services re- lated to financial statements of all types of entities. Only

CPAs and a now dwindling number of “grandfathered-in” non-CPA accountants are permitted to perform this audit function.

The Institute’s overriding role is to promote and enhance the profession of accounting. To accomplish this, it has a vari-

ety of functions, which include: providing group member ben- efits; preparing the Uniform CPA Examination; developing CPA professional standards; providing technical support to CPA members in many areas of practice; operating the pro- fession’s public relations pro- grams; providing support to the academic community and representing the profession before Congress and federal agencies

American International Group,

Inc. abbrev. AIG AmE an

American multinational fi- nance and insurance corporation with operations in more than 80 countries and juris- dictions

Commentary

AIG was founded in 1919. The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technolo- gy-enabled subsidiary. AIG’s corporate headquarters are in New York City. During the financial crisis of 2008, the Federal Reserve bailed the company out for $180 billion and assumed control, with the Financial Crisis Inquiry Com- mission correlating AIG’s fail- ure with the mass sales of unhedged insurance. AIG repaid

$ 205 billion to the United

States government in 2012.

amortization n {relating to intangible assets} n

1) a/ the process of amortiz- ing a debt;

b/ the money devoted to am- ortizing a debt;

2) Comp the redemption yield on a bond purchased at a pre- mium, the amount that is sub- tracted from the annual yield; cf. accumulation n

analysis n pl. analyses 1) a/ the separation of an intellectual or material whole into its constit- uent parts for individual study; b/ the study of such constituent parts and their inter- relationships in making up a whole;

2) Math. a/ a branch of math- ematics principally involving differential and integral cal- culus, sequences, and series and concerned with limits and convergence;

b/ the method of proof in which a known truth is sought as a consequence of a series of deductions from that which is the thing to be proved

analyst n

1) a person who analyzes or is skilled in analysis, someone

who is skilled at analyzing data;

2) ​an expert who studies fi- nancial data (on credit, secu- rities, sales, financial patterns, etc.) and recommends appropriate business actions

AP abbrev. Vid accounts payable noun phrase us. pl.

appraisal n an act of assessing something or someone

appraiser n syn.: valuator one who estimates officially the worth or value or quality of things

AR abbrev. Vid accounts receivable noun phrase us. pl.

AR abbrev. Vid audit risk noun phrase

ASC abbrev. BrE Vid Accounting Standards Committee, the

BrE

attestation report noun phrase syn.: attestation service a consulting service in which

a CPA expresses a conclusion about the reliability of a writ- ten statement that is the responsibility of someone else

aud abbrev. Bank Vid auditor n AUD abbrev. Govt Vid auditor n

audigator n Vid forensic auditor noun phrase

audit n ­abbrev. adt FA an independent assessment of the fairness by which a compa- ny’s financial statements are presented by its management; it is performed by a compe- tent, independent and objec- tive person or persons, known as auditors or trained accountants or CPAs, who then issue a report on the results of the audit

audit v 1) to inspect, correct, and certify (accounts, etc.); to examine carefully for accuracy with the intent of verification: audit accounts and tax returns; syn.: inspect; scrutinise BrE; scrutinize AmE;

2) Can. to attend (classes, etc.) as an auditor;

3) to attend academic courses without getting credit; syn.: learn; study; read; take — to​ be a student of a certain sub-

ject: He is reading for the bar exam.

audit alert(s) noun phrase sing. & pl. this alert provides auditors with an overview of recent economic, industrial, technical, regulatory, and professional developments that may affect the way auditors conduct audits and other en- gagements; an entity’s inter- nal management can also use this alert to address areas of audit concern.

Audit and Accounting Guides

AmE abbrev. AAG AmE they include relevant guidance contained in official standards and other technical sources:

AICPA Audit and Accounting Guides comprise practical discussion of recent developments and provide “howto” advice. All content is approved by the appropriate AICPA senior committees.

audit committee noun phrase abbrev. AC a committee of an organization’s board of di- rectors which is responsible for oversight of the financial reporting­ process, selection of the independent auditor and receipt of audit results, both internal and external

audit data analytics noun phrase abbrev. ADA ACCT it involves the analysis of complete sets of data to identify anomalies and trends for further investigation, as well as to provide audit evidence.

questions and answers to support the important discussion with clients on ADA.

audit department, a. audit arm noun phrases sing. & pl. a unit within a company or an organization that is responsi- ble for evaluating operational procedures, risk management, control functions, and gover- nance processes; reporting in- ternally to the audit committee of the Board of Directors and to senior management, the audit department is sup- posed to be completely objec- tive and receive no influence or interference from the areas of the company or organiza- tion it examines.

audit evidence noun phrase it is evidence obtained during a financial audit and recorded in the audit working papers.

Commentary

In the audit engagement acceptance or reappointment stage, audit evidence is the information that the auditor is to consider for the appointment. For example, change in the entity control environ- ment, inherent risk and nature of the entity business, and scope of audit work.

In the audit planning stage, audit evidence is the information that the auditor is to consider for the most effective and efficient audit approach.

For example, reliability of internal control procedures, and analytical review systems.

In the control testing stage, audit evidence is the information that the auditor is to consider for the mix of audit test of control and audit substantive tests.

In the substantive testing stage, audit evidence is the information that the auditor is to make sure the appropria- tion of financial statement assertions. For example, existence, rights and obligations, occurrence, completeness,

audit failure noun phrase it occurs when an auditor deviates from the applicable profes- sional standards in such a way that the opinion contained in his or her audit report is false; audit failures are frequently associated with inadequate auditor training, failure to ex- ercise sufficient professional scepticism in evaluating management representations, not sufficiently evaluating cli- ent valuation estimates, essentially not engaging in any auditing activities at all, and/ or creating inadequate audit documentation.

audit fee noun phrase Vid opinion shopping noun phrase

audit finding noun phrase deficiencies which the auditor is required by § ___.510 (a) to report in the schedule of find- ings and questioned costs

audit manager(s) noun phrase sing. & pl. they are responsi- ble for organizing and manag- ing internal audits according to audit plans; their respon- sibilities include overseeing the process of audits, making recommendations on policies, and ensuring that the orga- nization fulfills international and governmental obligations of compliance.

Audit Note Book or Audit note book noun phrases syn.: remembrance book noun phrase a register main- tained by the audit staff to record important points observed, errors, doubtful queries, explanations, and clari- fications to be received from the clients; it contains all mat- ters that come to the notice of the auditor in the course of audit; it also plays an im- portant part in defending the auditors if any legal action is brought against them.

audit of digital assets noun phrase the critical objects

audited are digital assets

(e.g. configurations and code, a. k. a. CIs in ITIL ), controls,and evidence of their effectiveness; for the digital assets, the typical audit procedure is examination or observation.

audit of non-digital assets noun phrase it is connected to physical endpoints (e.g. LAN access from a physical sock- et), it is difficult to replace this audit with purely remote procedures.

audit report, report auditor’s opinion, or auditor’s report noun phrases a formal opin- ion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit or evaluation performed on a legal entity or subdivision thereof (called an “auditee”); the report is subsequently pro- vided to a “user” (such as an individual, a group of persons, a company, a government, or even the general public, among others) as an assurance service in order for the user to make decisions based on the results of the audit.

Commentary

An auditor’s report is consid- ered an essential tool when reporting financial informa- tion to users, particularly in business. Since many thirdparty users prefer, or even re- quire financial information to be certified by an independent external auditor, many auditees rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance. Some have even stated that financial informa- tion without an auditor’s re- port is “essentially worthless” for investing purposes.

The most common auditor’s report in the world is an ex- ternal auditor’s report on an auditee’s (usually, but not ex- clusively, a company’s) finan- cial statements and its accompanying notes.

audit risk noun phrase abbrev. AR the risk that financial statements are materially incorrect, even though the audit opinion states that there are no material misstatements.

audit split noun phrase a ma- jor shake-up which came after repeated scandals in the auditing industry

audit tick mark(s) noun phrase sing. & pl. they are abbreviated notations used on audit work papers to denote audit- ing actions taken.

Commentary

These tick marks are useful from the audit manager’s per- spective to see which activities have been completed. They are also necessary as evidence to show which audit steps were completed to support the audit opinion for the financial statements of a client. In ad- dition, the use of tick marks compresses the space required to describe audit actions taken, which improves the usability of the audit documentation. Examples­ of auditing activities for which tick marks may be useful include the following:

— the numbers in the col- umn were manually added and matched to the total shown(footed);

— the totals in the report were manually added and matched to the grand total shown (cross footed);

— the computation on the re- port was independently verified;

— the amount was traced to the ledger balance;

— supporting documents were examined;

—a cancelled check was ex- amined;

— an asset was physically confirmed.

Audit tick marks are not stan- dardized across the industry. Instead, a common set of tick marks is used within each audit firm with some varia- tion across the industry. Tick marks may just as easily be used within an internal audit department as by outside auditors and may be unique to each department. When used, a tick mark should be suffi- ciently distinct that it cannot be confused with another type of tick mark. Also,an audit firm should internally pub- lish a listing of “official” tick marks used and what each one means, so that they are used by the staff in a consis- tent manner across all audits.

Customized tick marks were more heavily used when auditing was done primarily on paper documents. When used in that manner, tick marks are more likely to be recorded with a colored pencil, such as in red. Since the advent of auditing software, tick marks can be designated and stan- dardized within the software.

audit trail(s) noun phrase sing. & pl. Tech.

1) ACCT records which show a series of steps leading to the present financial situation:

The lack of a physical audit trail in electronic commerce increases the possibilities for tax avoidance.;

2) an electronic or paper re- cord of how a computer is used.

Commentary

Audit trails are used to verify and track many types of trans- actions including accounting transactions and trades in brokerage accounts. Audit trails can be useful tools when determining the validity of an accounting entry, source of funds, or trade.

audit trap(s) noun phrase sing. & pl. an unpleasant or difficult situation that is hard to escape from

audit watchdog noun phrase a person or group of people whose job is to make sure that companies do not do anything illegal or harmful

audited account noun phrase a company’s financial records that have been officially ex-

amined to check that they are accurate

auditee n an organization or part of an organization that is being audited

auditing verbal noun ­abbrev. ADT 1) a) an inspection, cor- rection, and verification of business accounts, conducted by an independent qualified accountant or CPA;

b) M audit report;

2) an audited account; a book- keeper’s chronological list of related debits and credits of a business; forms part of a led- ger of accounts;

3) any thoroughgoing check or examination; a methodical ex- amination or review of a con- dition or situation: He made an auditing of all the plants on his property. | an energy efficiency auditing; an email log auditing­ ; syn.: examination, scrutiny — ​ the act of examining something closely (as for mistakes)

auditing division noun phrase sing. & pl. a group that does a particular job within a large organization: The industry’s regulator, the Financial Reporting Council (FRG ), told KPMG, PwC, Deloitte, and EY that it expects them to have separated

their auditing divisions from the rest of their operations by June 2024.

аuditing headhunter noun phrase Vid auditing recruiter noun phrase

auditing recruiter, a. auditing­ headhunter noun phrases sing. & pl. a boutique search firm specializing in the place- ment of audit related candidates within the US organi- zations that employ them, it serves organizations from small startups to Fortune 1000 firms, privately held compa- nies, Big 4, public accounting firms, and not-for-profit orga- nizations

auditor n 1) a/ FA a person qualified to audit accounts; b/ a public accountant or a Federal, State, or local gov- ernment audit organization, which meets the general stan- dards specified in generally accepted government audit- ing standards (GAGAS); the term auditor does not include internal auditors of non-profit organizations

2)a person who hears or lis- tens;

3)SS/EDN Austral, US, and Can. a registered student who attends a class that is not an official part of his course of study, without actively participating it

auditor general, Auditor General noun phrases, a. audi- tor-general, Auditor-General n abbrev. AG Govt, POL &

DIPL; Econ., ACCT & FIN/ ACCT & BKG; in Can. a federal official responsible for audit- ing government departments and making an annual report

auditor’s opinion or auditor’s report noun phrases Vid audit report noun phrase

automated audit noun phrase it includes an increasing number of new forms of audit evidence, which may include alerts from continuous monitoring/audit procedures, analytic contingency tables (e.g. if “an event” occurs,initiate an additional audit module), or forward-looking data from operations.