GIAC Glossary of terms
We have provided explanations of some Internal Auditing terms. Please click on a highlighted letter below.| A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
The structure of conferred responsiblities; the authority delegated to carry out those responsibilities; and reporting on the discharge of those responsiblities.
2. Audit Charter
A formal written document that defines the Internal Audit Unit?s purpose, authority and responsiblity.
3. Audit Evidence
The information obtained by internal auditors to support their findings, recommendations and conclusions
4. Audit Objective
Governed by the scope of the audit engagement, it is a broad statement which defines what the audit assignment must accomplish.
5. Audit Plan
A high level description of the audit work to be performed in a certain period of time (ordinarily a year) by the internal audit unit.
6. Audit Procedures/Programmes
Tasks the internal auditor undertakes for collecting, analysing, interpreting, and documenting information during an audit.
7. Audit Scope
Areas examined, or to be examined, during an audit assignment- locations, functions and activities, aspects of performance, systems and procedures, audit methods and tests.
8. Audit Trail
The means by which a transaction (such as an accounting transaction e.g. receipt, payment or journal) can be traced from input through to its final resting place in a given business process or system (e.g. accounting system)