Everything about Audit
Independent examination of an organization
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 such entities as required by law. Auditors consider the propositions before them, obtain evidence, document their findings, and evaluate the propositions in their auditing report. Wikipedia →
🧭 Start here: a 6-step reading path
- Read the overview: AuditA 5-minute orientation
- Skim a recent paper: Is artificial intelligence improving the audit process?Influential work since 2022
- Pick up a classic book: AuditingThe most-reprinted book on the subject
- Read the landmark paper: Development of the Alcohol Use Disorders Identification Test (AUDIT): WHO Collaborative Project on Early Detection of Persons with Harmful Alcohol Consumption‐IICited 10,872 times
- Go sideways: Financial auditA closely related topic
- Go sideways: AuditorA closely related topic
📖 Definitions
Noun A judicial examination.
Noun An examination in general.
Noun An independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures
Noun The result of such an examination, or an account as adjusted by auditors; final account.
🏆 Landmark papers (most cited)
Development of the Alcohol Use Disorders Identification Test (AUDIT): WHO Collaborative Project on Early Detection of Persons with Harmful Alcohol Consumption‐II
The AUDIT Alcohol Consumption Questions (AUDIT-C)<subtitle>An Effective Brief Screening Test for Problem Drinking</subtitle>
Auditor size and audit quality
Audit committee, board of director characteristics, and earnings management
The Effect of Audit Quality on Earnings Management*
The Pricing of Audit Services: Theory and Evidence
Major complications of airway management in the UK: results of the Fourth National Audit Project of the Royal College of Anaesthetists and the Difficult Airway Society. Part 1: Anaesthesia
Earnings management and corporate governance: the role of the board and the audit committee
🆕 Influential since 2022
Is artificial intelligence improving the audit process?
Deep ROC Analysis and AUC as Balanced Average Accuracy, for Improved Classifier Selection, Audit and Explanation
The medical algorithmic audit
Why are expanded audit reports not informative to investors? Evidence from the United Kingdom
The Disclosure and Consequences of U.S. Critical Audit Matters
📚 Books worth reading
AuditingRobyn Moroney, Fiona Campbell · 2011
Cpa Comprehensive Exam ReviewNathan M. Bisk · 1988
ImproKeith Johnstone · 1979
Financial accountingJerry J. Weygandt · 1995
AuditingRobert Hiester Montgomery, Vincent M. O'Reilly · 1916
Auditing & assurance servicesWilliam F. Messier · 1999
CPA ReviewIrvin N. Gleim · 1994
AuditionMichael Shurtleff · 1978
Ranked by number of editions on Open Library, a rough measure of how lasting a book is.
🔗 Related topics
- Financial audit A financial audit is conducted to provide an opinion whether "financial statements" (the information is verified to the extent of reasonable assurance…
- Auditor An auditor is a person or a firm appointed by a company to execute an audit. To act as an auditor, a person should be certified by the regulatory authority…
- Internal control Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency…
- Auditor's report An auditor's report is a formal opinion, or disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of…
- Entity-level control An entity-level control is a control that helps to ensure that management directives pertaining to the entire entity are carried out. These controls are…
- Internal audit Internal auditing is an internally-administered assurance and consulting activity designed to add value and improve an organization's operations. It helps…
- SOX 404 top–down risk assessment In financial auditing of public companies in the United States, SOX 404 top–down risk assessment (TDRA) is a financial risk assessment performed to comply…
- External auditor An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal…