Synonyms
Auditing for financial reporting = Financial statement audit in the public sector (for the purpose of this entry).
Definition
The term “audit” possibly originates from the Latin “audire,” meaning “to listen”. In the ancient Rome practice, one official would compare records with another for a separation of duties and verification. Later this practice expanded to England that confirmed a quotation from Shakespeare’s piece:
If you suspect my husbandry or falsehood,
Call me before the exactest auditors
And set me on the proof. (W. Shakespeare 1623)
Auditing: “A systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users.” (Hyytinen and Kallunki 2014)
Government auditing:is essential to the government’s responsibility of accountability to the public. Government audits are...
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References
Antipova T (2014) Government auditing in the regions. PSU, Perm
Brusca I, Caperchione E, Cohen S, Manes-Rossi F (2015) Public sector accounting and auditing in Europe the challenge of harmonization. Palgrave Macmillan, New York
Budding T, Grossi G (2014) Public sector accounting. Taylor and Francis. New York and London
International Federation of Accountants (IFAC) (2008) Financial reporting supply chain. Current perspectives and directions
GAO-06-729G (2006) Government auditing standards. United States general accounting office by the comptroller general of the United States
GAO-03-673G (2003) Government auditing standards. United States general accounting office by the comptroller general of the United States
GAO/OP-4.1.2 (1989) United States general accounting office. Office of policy
Gauthier SJ (2009) Better understanding the financial statement audit. Govt Fin Rev 25(3):44–48
Government finance statistics manual (2014) International Monetary Fund, Washington, DC
Hyytinen A, Kallunki J-P (2014) Auditing. In: Encyclopedia of law and economics. Springer, New York
International Federation of Accountants (IFAC) (2015) International public sector standards (IPSAS)
Lewis AC, Neiberline C, Steinhoff JC (2014) Digital auditing: modernizing the government financial statement audit approach. J Govt Fin Manage 63(1):32–37
Shakespeare W (1623) Timon of Athens (2.2), Flavius
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Antipova, T. (2016). Auditing for Financial Reporting. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2304-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_2304-1
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