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Banking

Statutory Audit

An audit that is mandated by a statute- a statute is a law or regulation passed by a legislative authority...

PIE Audit

An audit engagement on public interest entities (PIEs). It is a statutory audit of financial statements of PIEs conducted in...

A Posteriori Control

The process of conducting financial audits and other checks for the purpose of verifying whether the costs presented in the...

A Posteriori Audit

The process of conducting financial audits and other checks for the purpose of verifying whether the costs presented in the...

Ex-Post Audit

The process of conducting financial audits and other checks for the purpose of verifying whether the costs presented in the...

Ex-Post Control

The process of conducting financial audits and other checks for the purpose of verifying whether the costs presented in the...

Cooling-Off Period

A period of time during which an accounting/ audit firm has to maintain the rule of independence when a member...

TFV Concept

In connection with an audit report (auditor's opinion) on an entity's financial statements and accounts, true and fair view is...

TFO

It stands for true and fair override; a provision/ condition (embedded in accounting standards) that calls for departure from the...

Overriding

A provision/ condition (embedded in accounting standards) that calls for departure from the requirements of a specific standard when compliance...