IFAC International Auditing Practice Committee Issued by the International Federation of Accountants

IFAC International Auditing Practice Committee Issued by the International Federation of Accountants

Accounting estimate Accounting system Adverse opinion Agreed-upon procedures engagement Analytical procedures Annual report Anomalous error Application controls in computer information systems Appropriateness Assertions Assistants (modified) (Assertion) (Assertion) (Assertion) (Assertion) 1

Assurance Attendance Audit Audit evidence Audit firm Audit opinion Audit program Audit risk Control risk 2

Detection risk Inherent risk Audit sampling 100 Anomalous error Expected error Non-sampling risk Population 3

Sampling risk Sampling units Statistical sampling (a) (b) (a) (b) Stratification Tolerable error Auditor Continuing auditor External auditor 4

Incoming auditor Other auditor Personal Predecessor auditor Principal auditor Auditor s association Comparatives 2 (a) (b) 5

Compilation engagement Component Comprehensive basis of accounting Computation Computer-assisted audit techniques Computer information system Computer Assisted Audit Techniques (CAATs) (CIS) Confirmation Continuing auditor Control environment Control procedures Control risk Corporate Governance Database Detection risk Disclaimer of opinion (modified) Documentation Emphasis of matter paragraph(s) (modified) 6

Engagement letter Environmental matters (a) (b) (c) (d) Environmental performance report Environmental risk Error Expected error Expert External audit/auditor External confirmation (Assertion) 7

Financial statements Summarized financial statements Financial statement assertions (Assertion) (Assertion) (a) (b) (c) (d) (e) (f) (g) Forecast Fraud 8

General controls in computer information systems Going concern assumption Governance Government business enterprises Incoming auditor Inherent risk Inquiry Inspection Interim financial information or statements Internal auditing 9

Internal control system Knowledge of the business Limitation on scope Management Management representations Material inconsistency Material misstatement of fact Material weaknesses 10

Materiality Misstatement Modified auditor s report (modified) (modified) Emphasis of matter paragraph(s) (modify) (modify) Qualified opinion Disclaimer of opinion Adverse opinion 11

National practices (auditing) National standards (auditing) Noncompliance Non-sampling risk Observation Opening balances Opinion (modified) Other auditor Personnel Planning Population Post balance sheet events Predecessor auditor Principal auditor 12

Projection (a) (b) Prospective financial information Public sector Qualified opinion (modified) Quality controls 200 Reasonable assurance Related parties 24 Related party Related party transaction Related services 13

Review engagement Sampling risk Sampling units Scope of an audit Scope of a Review Scope limitation Segment information Service organization Significance (Assertion) Small entity (a) 1 (b) 1 (a) (b) 1 14

Special purpose auditor s report (a) (b) (c) (d) Statistical sampling Stratification Subsequent events 10 2 (a) (b) Substantive procedures 2 (a) (b) Sufficiency Summarized financial statements Supreme audit institution Tests of control (a) (b) Tolerable error Uncertainty Unqualified opinion 15

Walk-through test Working papers 16