Index

A

Acceptance and continuance of clients and engagements

Access control

Access to documentation

Accountants

Accounting and Review Services Committee (ARSC)

Accounting change. See also Consistency of Application of Generally Accepted Accounting Principles (AU 420)

Accounting estimates

Accounting guides, App. C

Accounting information system

Accounting methods

Accounting policies

Accounting practices

Accounting principles

Accounting Principles Board (APB)

Accounting records, defined (AU-C 500)

Accounting Series Release (ASR)

Accounting Standards Codification (ASC)

Accounts receivable

Adequacy of Disclosure in Financial Statements (AU 431)

Adherence to GAAP (AU 410)

Adjustment events

Administration of quality control system

Adverse opinions

Affiliate, defined (AU 334)

Agreed-Upon Procedures Engagements (AT 201)

AICPA (American Institute of Certified Public Accountants)

AICPA Accounting Guides, App. C

AICPA Audit Guides

AICPA Code of Professional Conduct

AICPA PITF Practice Alerts. See PITF Practice Alerts

Alert That Restricts the Use of the Auditor’s Written Communication (AU-C 905)

Allied Crude Vegetable Oil Company case (DeAngelis fraud)

American Bar Association (ABA)

American Institute of Certified Public Accountants. See AICPA (American Institute of Certified Public Accountants)

Analytical procedures. See also Analytical Procedures (AU 329); Analytical Procedures (AU-C 520)

Analytical Procedures (AU 329)

Analytical Procedures (AU-C 520)

Annual reports. See also Form 10-K

Applicable compliance requirements, defined (AU-C 935)

Applicable financial reporting framework

Applicable risk of noncompliance, defined (AU 801)

Application controls, defined (AU 314)

Applied criteria

Appropriateness (of audit evidence)

Arm’s-length transaction, defined (AU-C 550)

ASC. See Accounting Standards Codification (ASC)

Assembly, defined (AT 301)

Assertion-level risk

Assertion(s)

Assessed level of control risk, defined (AU 314)

Assistants

Association with Financial Statements (AU 504)

Assurance engagement, defined (AR 60-90)

Attest engagement(s). See also Attest Engagements (AT 101)

Attest Engagements (AT 101)

Attestation risk

Attorney-client privilege

Attorneys

Attribute sampling

Audit(s)

Audit committee

Audit Considerations Relating to an Entity Using a Service Organization (AU-C 402)

Audit differences

Audit Documentation (AU 339). See also Documentation

Audit Documentation (AU-C 230). See also Documentation

Audit Documentation (PCAOB 3). See also Documentation

Audit evidence

Audit Evidence (AU 326)

Audit Evidence (AU-C 500)

Audit Evidence (PCAOB 15)

Audit Evidence – Specific Considerations for Selected Items (AU-C 501)

Audit file, defined (AU-C 230)

Audit findings

Audit guides, App. C

Audit objectives, defined (AU 326)

Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements (PCAOB 5)

Audit plan

Audit planning

Audit Planning (PCAOB 9)

Audit procedures

Audit program, defined (AU 311)

Audit results, evaluating (PCAOB 14)

Audit risk

Audit Risk (PCAOB 8)

Audit Risk and Materiality in Conducting an Audit (AU 312)

Audit risk model (AR)

Audit risk of noncompliance, defined (AU-C 935)

Audit sampling. See also Audit Sampling (AU 350); Audit Sampling (AU-C 530)

Audit Sampling (AU 350)

Audit Sampling (AU-C 530)

Audit strategy. See also Audit planning

Audit team, discussion among. See also Engagement team

Auditing Accounting Estimates (AU 342)

Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures (AU-C 540)

Auditing Derivative Instruments, Hedging Activities, and Investments in Securities (AU 332)

Auditing Fair Value Measurements and Disclosures (AU 328)

Auditing Standards

Auditor(s)

Auditor’s awareness

Auditor’s Communication with Those Charged with Governance (AU 380)

Auditor’s Communication with Those Charged with Governance (AU-C 260)

Auditor’s consent, defined (AU-C 925)

Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU 341)

Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU-C 570)

Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements (AU 322)

Auditor’s opinion. See Opinions

Auditor’s point estimate or auditor’s range

Auditor’s Responses to the Risks of Material Misstatement (PCAOB 13)

Auditor’s responsibilities

Auditor’s Responsibilities and Functions, Introduction to GAAS, and the General Standards (Including the Quality Control Standards) (AU 100-230)

Auditor’s specialist, defined (AU-C 620). See also Specialists

Auditor’s standard report, defined (AU 508)

Automated controls

Awareness letter, defined (AU-C 925)

B

Balance sheet

Bank trust departments. See also Service Organizations (AU 324)

Basic financial statements

Basis for auditor’s opinion

Blank form of confirmation request, defined (AU 330)

Block sampling

Board of directors

Broker-dealers, comfort letters to. See Comfort letters

Business risk

C

Capsule financial information

Carve-out method, defined (AT 801)

Cash flow, changes in presentation of

Cash receipts and disbursements basis of accounting

Change in accounting principle, defined (PCAOB 6)

Change in classification

Change in engagement

Change in reporting entity, defined (PCAOB 6)

Change of auditors. See also Communications Between Predecessor and Successor Auditors (AU 315)

Change period

Changes during course of audit

Clean cutoff approach

Client consent and acknowledgment letter (AU 315)

Client-prepared documents

Clients

Closest reasonable estimate

Closing date

Collateral, in fair value evaluations

Comfort letters

Committee of Sponsoring Organizations of the Treadway Commission (COSO)

Commodity warehouse, defined (AU 901)

Common-size financial statements

Communicating Internal Control Related Matters Identified in an Audit (AU 325)

Communicating Internal Control Related Matters Identified in an Audit (AU-C 265)

Communications

Communications between Predecessor and Successor Accountants (AR 400)

Communications Between Predecessor and Successor Auditors (AU 315)

Comparative financial statements

Comparative information, defined (AU-C 700)

Comparison date and comparison period, defined (AU-C 920)

Comparisons (analytical procedures)

Competence, defined (PCAOB 5)

Competence and objectivity of internal auditors, assessment of

Compilation and Review of Financial Statements (AR 60-90)

Compilation engagements

Compilation of Pro Forma Financial Information (AR 120)

Compilation of Specified Elements, Accounts, or Items of a Financial Statement (AR 110)

Compilation Reports on Financial Statements Included in Certain Prescribed Forms (AR 300)

Complementary user entity controls

Compliance Attestation (AT 601)

Compliance audit

Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance (AU 801)

Compliance Audits (AU-C 935)

Compliance requirements, defined (AU-C 935)

Component, defined (AU-C 600)

Component auditor, defined (AU-C 600)

Component management, defined (AU-C 600)

Component materiality, defined (AU-C 600)

Components of internal control, defined (AU 314)

Condensed financial statements

Confidence factors

Confidence limits

Confidentiality of audit documentation

Confirmation Process (AU 330)

Confirmation request. See also Confirmation Process (AU 330)

Consideration of Fraud in a Financial Statement Audit (AU 316)

Consideration of Fraud in a Financial Statement Audit (AU-C 240)

Consideration of Internal Control in a Financial Statement Audit (AU 319)

Consideration of Laws and Regulations in an Audit of Financial Statements (AU-C 250)

Consideration of Materiality in Planning and Performing an Audit (PCAOB 11)

Consideration of Omitted Procedures After the Report Date (AU 390)

Consideration of Omitted Procedures After the Report Release Date (AU-C 585)

Consistency of Application of Generally Accepted Accounting Principles (AU 420)

Consistency of Financial Statements (AU-C 708)

Continuing accountant

Continuing auditor, defined (AU 508)

Control, defined (AU 334)

Control activities

Control deficiency

Control deficiency – design, defined (AU 325)

Control deficiency – operation, defined (AU 325)

Control environment

Control objective

Control risk

Controls at service organization. See Reporting on Controls at a Service Organization (AT 801)

Controls at subservice organization, defined (AT 801)

Controls placed in operation, defined (AU 314)

Corroborating information, defined (AU 326)

Cost method of accounting

Criteria

Current period

Cut-off date, comfort letters

D

Data processing service centers. See also Service Organizations (AU 324)

Date of auditor’s report. See also Dating of the Independent Auditor’s Report (AU 530)

Date of financial statements, defined (AU-C 560)

Dating of the Independent Auditor’s Report (AU 530)

Defective controls, defined (PCAOB 5)

Deficiency in internal control

Deficiency in internal control over compliance, defined (AU-C 935)

Deficiency in internal control over financial reporting, defined (PCAOB 5)

Depreciation, compilation report illustration

Derivatives and securities. See also Auditing Derivative Instruments, Hedging Activities and Investments in Securities (AU 332)

Design deficiency, defined (PCAOB 5)

Designated accounting standard setter

Detection risk

Detection risk of noncompliance

Detective control, defined (AT 501)

Disclaimer of opinion. See Opinions

Disclosure events

Disclosures

Discovery sampling

Documentation. See also Audit Documentation (AU 339); Audit Documentation (AU-C 230)

Dollar value sampling (probability proportional to size)

Dual-dated report

Dual-purpose sample, defined (AU 350)

Dual-purpose tests

Dual statements, defined (AU 534)

Due care

Due diligence defense, comfort letters

E

Early appointment of independent auditor

Economic conditions

Effective date

Effective date of registration statement, defined (AU-C 925)

Electronic communications

Emphasis-of-matter paragraph

Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report (AU-C 706)

Engagement acceptance

Engagement letter

Engagement partner

Engagement quality control review, defined (AU-C 220)

Engagement quality control reviewer, defined (AU-C 220)

Engagement Quality Review (PCAOB 7)

Engagement team

Engagements to Report on Summary Financial Statements (AU-C 810)

Entities

Equal-probability sampling

Equity method of accounting

Error, defined (AU 312)

Estimate uncertainty, defined (AU-C 540)

Estimates, changes in

Estimation risk, statistical sampling

Estimation uncertainty, defined

Evaluating Audit Results (PCAOB 14)

Evaluating Consistency of Financial Statements (PCAOB 6)

Evaluating reasonableness of accounting estimates

Evaluation of effectiveness of control design, defined (AU 314)

Evaluation of Misstatements Identified During the Audit (AU-C 450)

Examination of an Entity’s Internal Control Over Financial Reporting That is Integrated with an Audit of Its Financial Statements (AT 501). See also Communicating Internal Control Related Matters Identified in an Audit (AU 325)

Examination of prospective financial statements, defined (AT 301)

Exception, defined (AU-C 505)

Experienced auditor

Expert testimony

Expertise, defined (AU-C 620)

Explanatory language added to auditor’s standard report, defined (AU 508)

External Confirmations (AU-C 505)

F

Fair presentation framework

Fair value

FASB ASC. See Accounting Standards Codification (ASC)

Federal Deposit Insurance Corporation (FDIC) Improvement Act of 1991

Field warehouse, defined (AU 901)

Filing date, defined (AU 634)

Filings Under Federal Securities Statutes (AU 711)

Filings with the US Securities and Exchange Commission Under the Securities Act of 1933 (AU-C 925)

Financial Accounting Standards Board (FASB)

Financial forecasts and projections

Financial Forecasts and Projections (AT 301)

Financial reporting, internal control over. See Internal control over financial reporting

Financial reporting framework

Financial Reporting Release (FRR)

Financial statement-level risk

Financial statements

Financial Statements Prepared in Accordance with a Financial Reporting Framework Generally Accepted in Another Country (AU-C 910)

Firm, defined (AU-C 220)

First year audits

Fischer v. Kletz (Yale Express case)

Flow-of-transaction tests (walk-throughs)

Focus groups

Forecasts and projections. See Financial forecasts and projections

Foreign auditing standards. See also Reporting on Financial Statements Prepared for Use in Other Countries (AU 534)

Foreign Corrupt Practices Act of 1977

Form 8-K

Form 10-K

Form 10-Q

Form 11-K

Forming an Opinion and Reporting on Financial Statements (AU-C 700)

Fraud. See also Consideration of Fraud in a Financial Statement Audit (AU 316); Consideration of Fraud in a Financial Statement Audit (AU-C 240)

Fraud risk. See also Risk of material misstatement

Fraud Task Force (2000)

Further audit procedures. See also Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (AU 318)

G

GAAS hierarchy. See Hierarchy of GAAS

General controls, defined (AU 314)

General merchandise warehouse, defined (AU 901)

General-purpose financial statements, defined (AU-C 700)

General-purpose framework, defined (AU-C 700)

General use of prospective financial statements, defined (AT 301)

General-use reports, defined (AU 532)

Generally accepted accounting principles (GAAP)

Generally accepted auditing standards (GAAS)

Generally accepted government auditing standards (GAGAS)

Going concerns. See also Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU 341); Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU-C 570)

Governance, those charged with (responsibility for). See Those charged with governance

Government Auditing Standards, defined (AU-C 935)

Government program

Governmental audit requirement, defined (AU-C 935)

Governmental auditing standards. See Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance (AU 801); Compliance Audits (AU-C 935)

Grantor, defined (AU-C 935)

Group, defined (AU-C 600)

Group audit, defined (AU-C 600)

Group audit opinion, defined (AU-C 600)

Group engagement partner, defined (AU-C 600)

Group engagement team, defined (AU-C 600)

Group financial statements, defined (AU-C 600)

Group management, defined (AU-C 600)

Group-wide controls, defined (AU-C 600)

H

Haphazard sampling

Hedging activities and hedge accounting. See Auditing Derivative Instruments, Hedging Activities and Investments in Securities (AU 332)

Hierarchy of GAAS

Historical financial information, defined (AU-C 200)

Historical financial statements

Hypothetical assumption, defined (AT 301)

Hypothetical transactions

Hypothetical transactions, reports on

I

Identifying and Assessing Risks of Material Misstatement (PCAOB 12)

Illegal acts

Illegal Acts by Clients (AU 317)

Immediate family, defined (AU 334)

Impairment losses

Inclusive method, defined (AT 801)

Inconsistency

Indemnification arrangements

Independence

Independence Standards Board (ISB)

Industry comparisons

Industry considerations

Information technology (IT)

Inherent risk

Initial audit. See also Opening Balances – Initial Audit Engagements, Including Reaudit Engagements (AU-C 510)

Inquiries

Inquiry of a Client’s Lawyer Concerning Litigation, Claims, and Assessments (AU 337)

Integrity

Interim financial information. See also Interim Financial Information (AU 722)

Interim Financial Information (AU 722)

Interim Financial Information (AU-C 930)

Internal audit function. See also Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements (AU 322)

Internal auditors. See also Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements (AU 322)

Internal Control Issues in Derivatives Usage (COSO)

Internal control over compliance. See Compliance Attestation (AT 601)

Internal control over financial reporting

International Accounting Standards

International Standards on Auditing (ISA)

Interpretive publications

Inventories. See also Inventories (AU 331); Public Warehouses: Controls and Auditing Procedures for Goods Held (AU 901)

Inventories (AU 331)

Iron curtain approach

Issuer(s). See also Comfort letters; Underwriter(s)

J

Journal entries and adjustments

Judgment sampling (nonstatistical sampling). See Audit Sampling (AU 350)

K

Key factors

Key-item tests

Known misstatement

Known questioned costs, defined (AU-C 935)

L

Lack of Conformity with Generally Accepted Accounting Principles (AU 544)

Land recorded at appraised values

Laws and regulations, consideration of in audit of financial statements. See Consideration of Laws and Regulations in an Audit of Financial Statements (AU-C 250)

Lawyers. See Attorneys

Lawyers, inquiry of. See Inquiry of a Client’s Lawyer Concerning Litigation, Claims, and Assessments (AU 337)

Letters for Underwriters and Certain Other Requesting Parties (AU 634)

Letters for Underwriters and Certain Other Requesting Parties (AU-C 920)

Likely misstatement

Likely questioned costs, defined (AU-C 935)

Limited distribution in the United States, defined (AU 534)

Limited use of prospective financial statements, defined (AT 301)

Liquidation basis of accounting

Litigation services

Loss contingency, defined (AU 337)

M

Management

Management Discussion and Analysis (MD&A)

Management representations

Management Representations (AU 333)

Management’s assertion, defined (AT 501)

Management’s Discussion and Analysis (MD&A) – A Summary (AT 701)

Management’s point estimate

Management’s specialist

Material error

Material fraud

Material misstatement. See also Misstatement

Material noncompliance

Material weakness. See also Communicating Internal Control Related Matters Identified in an Audit (AU 325)

Material weakness in internal control over compliance

Materiality

Materiality in Planning and Performing an Audit (AU-C 320)

MD&A. See Management Discussion and Analysis (MD&A)

Misappropriation of assets

Misstatement. See also Material misstatement

Modification of reports

Modifications to the Opinion in the Independent Auditor’s Report (AU-C 705)

Modified opinion. See also Modifications to the Opinion in the Independent Auditor’s Report (AU-C 705)

Monitoring

Mortgage bankers. See also Service organizations

N

National economic data comparisons

Negative assurance

Negative confirmation request

Negative form of confirmation request, defined (AU 330)

Negotiable warehouse receipt, defined (AU 901)

Network, defined (AU-C 220)

Network firm, defined (AU-C 220)

Noncompliance, defined (AU-C 250)

Nonissuer(s)

Nonnegotiable warehouse receipt, defined (AU 901)

Nonpublic entities

Nonresponse, defined (AU-C 505)

Nonsampling risk

Nonstatistical sampling. See Audit Sampling (AU 350)

Notification of subsequent discovery of facts existing at date of auditor’s report

O

Objectivity

Observation

Oil and gas information

OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations

Omitted procedures. See Consideration of Omitted Procedures After the Report Date (AU 390); Consideration of Omitted Procedures After the Report Date (AU-C 585)

Opening Balances – Initial Audit Engagements, Including Reaudit Engagements (AU-C 510)

Operation deficiency, defined (PCAOB 5)

Opinion shopping

Opinions. See also Adherence to GAAP (AU 410); Reports

Ordinary audit, objective of

Organization charts

Organization-wide audit, defined (AU-C 935)

Organizational culture

Other auditing publications

Other comprehensive basis of accounting (OCBOA)

Other independent auditor, defined (AU 543)

Other Information in Documents Containing Audited Financial Statements (AU 550)

Other Information in Documents Containing Audited Financial Statements (AU-C 720)

Other-matter paragraph, defined (AU-C 706)

Outcome of an accounting estimate

Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Generally Accepted Auditing Standards (AU-C 200)

P

Part of Audit Performed by Other Independent Auditors (AU 543)

Partial presentation, defined (AT 301)

Partner, defined (AU-C 220)

Pass-through entity, defined (AU-C 935)

Performance materiality, defined (AU-C 320)

Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (AU 318)

Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (AU-C 330)

Personal financial statements included in written personal financial plans

Personnel

Pervasive, defined (AU-C 705)

PITF Practice Alerts

Planning an Audit (AU-C 300)

Planning and Supervision (AU 311)

Population

Positive confirmation request

Positive form of confirmation request, defined (AU 330)

Practice Alerts

Practitioner-in-charge, defined (AU 100-230)

Predecessor accountant

Predecessor auditor. See also Communications Between Predecessor and Successor Auditors (AU 315)

Preliminary engagement activities

Premise, defined (AU-C 200)

Prescribed forms, compilation reports on financial statements included in

Prescribed guidelines, defined (AU-C 730)

Present ability to support previously expressed opinion, defined (AU 390)

Preventive control(s)

Principal accountant, comfort letters

Principal auditor, defined (AU 543)

Principal owners, defined (AU 334)

Prior period misstatements

Prior periods

Private Securities Litigation Reform Act of 1995

Pro forma financial information

Probability-proportional-to-size sampling. See Dollar value sampling

Probable, defined (AU 337)

Professional disagreements

Professional Issues Task Force Practice Alerts. See PITF Practice Alerts

Professional judgment, defined (AU-C 200)

Professional requirements

Professional skepticism

Professional standards, defined (AU-C 220)

Program-specific audit, defined (AU-C 935)

Prospective Financial Information Guide (AICPA)

Prospective financial statement, defined (AT 301)

Prospectus, defined (AU 711)

Public companies. See also Public entities

Public Company Accounting Oversight Board (PCAOB)

Public entities. See also Public companies

Public warehouses

Public Warehouses: Controls and Auditing Procedures for Goods Held (AU 901)

Q

Qualified opinion

Quality Control for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards (AU-C 220)

Quality control standards

Quality control system

Quality reviews

Questioned costs, defined

R

Random number sampling

Ratio analysis

Reasonable assurance

Reasonable period of time, defined (AU-C 570)

Reasonableness testing

Reasonably possible, defined (AU 337)

Reaudits. See Opening Balances – Initial Audit Engagements, Including Reaudit Engagements (AU-C 510)

Reconciliations

Records retention

References in Auditors’ Reports to the Standards of the Public Company Accounting Oversight Board (PCAOB 1)

Refrigerated warehouse, defined (AU 901)

Registration statement, defined (AU 711)

Regression analysis

Regulated companies

Regulation S

Regulation S-K

Regulation S-X

Reissued reports

Related Parties (AU 334)

Related Parties (AU-C 550)

Related-party transactions

Relevant assertion

Relevant ethical requirements, defined (AU-C 220)

Remote (chance), defined (AU 337)

Report on management’s description of a service organization’s system and the suitability of the design and operating effectiveness of controls

Report on management’s description of a service organization’s system and the suitability of the design controls, defined (AU-C 402)

Report on management’s description of a service organization’s system and the suitability of the design of controls, defined (AT 801)

Report release date

Reporting accountant, defined

Reporting on Comparative Financial Statements (AR 200)

Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements (AU-C 806)

Reporting on Condensed Financial Statements and Selected Financial Data (AU 552)

Reporting on Controls at a Service Organization (AT 801)

Reporting on Financial Statements Prepared for Use in Other Countries (AU 534)

Reporting on Personal Financial Statements Included in Written Personal Financial Plans (AR 600)

Reporting on Pro Forma Financial Information (AT 401)

Reporting on Whether a Previously Reported Material Weakness Continues to Exist (PCAOB 4)

Reports

Reports on Application of Requirements of an Applicable Financial Reporting Framework (AU-C 915)

Reports on Audited Financial Statements (AU 508)

Reports on controls placed in operation

Reports on controls placed in operation and tests of operating effectiveness

Reports on the Application of Accounting Principles (AU 625)

Representation letter

Representations of management. See Management representations

Requesting party, defined (AU-C 920)

Required Supplementary Information (AU 558)

Required Supplementary Information (AU-C 730)

Responsible party

Restricted parties

Restricted-use reports, defined (AU 532)

Restricting the Use of an Auditor’s Report (AU 532)

Retained earnings

Revenue recognition, improper

Review engagements

Review evidence, defined (AR 60-90)

Review of financial statements. See Compilation and Review of Financial Statements (AR 60-90)

Review procedures

Risk assessment. See also Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (AU 318); Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (AU 314)

Risk-based, top-down approach to evaluating internal control

Risk factors

Risk of assessing control risk too high, defined (AU 350)

Risk of assessing control risk too low, defined (AU 350)

Risk of incorrect acceptance, defined (AU 350)

Risk of incorrect rejection, defined (AU 350)

Risk of material misstatement

Risk of material misstatement in financial statement assertions, defined (AU 314)

Risk of material noncompliance, defined (AU-C 935)

Rollover approach

S

Sampling and nonsampling. See also Audit Sampling (AU 350); Audit Sampling (AU-C 530)

Sampling risk, defined

Sampling unit, defined (AU-C 530)

Sarbanes-Oxley Act (SOX)

Scope of audit and scope limitations

Scope restrictions, compliance attestation

Second opinions

Securities

Securities Act of 1933

Securities and Exchange Commission (SEC)

Securities Exchange Act of 1934

Securities offerings, defined (AU-C 920)

Selected financial data

Senior management, defined (PCAOB 5)

Service auditor. See also Service Organizations (AU 324)

Service organization, defined (AT 801)

Service organizations. See also Service Organizations (AU 324)

Service Organizations (AU 324)

Service organization’s system

Shared activities

Shelf registration

Significant account or disclosure

Significant assumptions

Significant component, defined (AU-C 600)

Significant deficiency. See also Communicating Internal Control Related Matters Identified in an Audit (AU 325)

Significant deficiency in internal control over compliance

Significant engagement deficiency, defined (PCAOB 7)

Significant findings, documentation of

Significant findings or issues, defined (PCAOB 3)

Significant risk

Special Considerations – Audits of Financial Statements Prepared in Accordance with Special-Purpose Frameworks (AU-C 800)

Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) (AU-C 600)

Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement (AU-C 805)

Special-purpose financial statements, defined (AU-C 800)

Special-purpose frameworks, audits prepared in accordance with. See Special Considerations – Audits of Financial Statements Prepared in Accordance with Special-Purpose Frameworks (AU-C 800)

Special-purpose frameworks, defined (AU-C 800)

Special Reports (AU 623)

Specialists. See also Using the Work of a Specialist (AU 336); Using the Work of an Auditor’s Specialist (AU-C 620)

Specific transactions

Specific transactions, defined

Specified parties

Specified regulatory agencies, defined (AU 722)

Specified requirements, defined (AT 601)

Staff, defined (AU-C 220)

Standards

Stated control objective, defined (PCAOB 4)

Statement of cash flows

Statements of Financial Accounting Concepts (CON)

Statements of Financial Accounting Standards (SFAS). See also Accounting Standards Codification (ASC)

Statements of Position (SOP)

Statements on Accounting Procedures (SAP)

Statements on Auditing Procedures (SAP)

Statements on Auditing Standards (SAS)

Statements on Quality Control Standards (SQCS)

Statements on Standards for Accounting and Review Services (SSARS)

Statements on Standards for Attestation Engagements (SSAE)

Statistical sampling. See Audit Sampling (AU 350)

Statistical sampling, defined (AU-C 530)

Statistical sampling principles. See also Sampling and nonsampling

Stratification, defined (AU-C 530)

Subject matter, defined (AT 101)

Subservice organization, defined (AT 801)

Submission of financial statements, defined (AR 60-90)

Subsequent changes, comments on in comfort letters

Subsequent discovery of facts

Subsequent discovery of facts existing at date of auditor’s report

Subsequent Discovery of Facts Existing at the Date of the Auditor’s Report (AU 561)

Subsequent events

Subsequent Events (AU 560)

Subsequent Events and Subsequently Discovered Facts (AU-C 560)

Subsequent period, defined (AU 560)

Subsequently discovered facts

Subservice organization, defined (AU-C 402)

Substantive procedures

Substantive tests

Successor accountant

Successor auditor. See also Communications Between Predecessor and Successor Auditors (AU 315)

Sufficiency

Sufficiency (of audit evidence)

Suitably qualified external person, defined (AU-C 220)

Summary financial statements, reporting on

Supervision

Supervision of the Audit Engagement (PCAOB 10)

Supplementary Information in Relation to Financial Statements as a Whole (AU-C 725). See also Required Supplementary Information (AU-C 730)

Supplementary Information in Relation to the Financial Statements as a Whole (AU 551)

Systematic sampling

T

Tables, statistics, and other financial information, comments on in comfort letters

Tax returns

Terminal warehouse, defined (AU 901)

Terms of Engagement (AU-C 210)

Tests of controls. See also Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained (AU 318)

Tests of transactions

Third party, defined (AR 60-90)

Those charged with governance

Threatened legal proceeding, defined (AU 390)

Threatened litigation, defined (AU 337)

Tolerable misstatement

Tolerable rate, defined (AU 350)

Tolerable rate of deviation, defined (AU-C 530)

Top-down approach, internal control selection and evaluation

Training and proficiency

Treadway Commission

Trend analysis

U

Unasserted claim or assessment, defined (AU 337)

Unaudited condensed interim financial information

Unaudited financial statements

Uncorrected misstatements

Underlying accounting data, defined (AU 326)

Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (AU 314)

Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (AU-C 315)

Understanding the Responsibilities of Auditors for Audits of Group Financial Statements – 2012 (AICPA)

Underwriter(s)

Underwriting agreement, defined (AU 634)

Undetected misstatement

Unexamined items, defined (AU 350)

Unmodified opinion, defined (AU-C 700)

Unqualified opinion, defined (AU 508)

Updated report

US entity, defined (AU 534)

US-style report modified, defined (AU 534)

User auditor. See also Service Organizations (AU 324)

User entity

User organization, defined (AU 324)

Using the Work of a Specialist (AU 336)

Using the Work of an Auditor’s Specialist (AU-C 620)

V

Valuation

Variance analysis

W

Walk-throughs (flow-of-transaction tests)

Warehouse, defined (AU 901)

Warehouse receipt, defined (AU 901)

Warehouses, public. See Public warehouses

Work of others

Working papers. See also Documentation

Written report, defined

Written Representations (AU-C 580)

Y

Yale Express case (Fischer v. Kletz)

Yellow Book