Arvestushinnang

Accounting estimate
def. An approximation of a monetary amount in the absence of a precise means of measurement.  

 

Audiitor

Auditor
def. “Auditor” is used to refer to the person or persons conducting the audit, usually the engagement partner or other members of the engagement team, or, as applicable, the firm.  

 

Hindama

Assess
def. Analyze identified risks of material misstatement to conclude on their significance. “Assess,” by convention, is used only in relation to risk.  

 

Täielikkus

Completeness  

 

Väärkajastamine

Misstatement
def. A difference between the amount, classification, presentation, or disclosure of a reported financial statement item and the amount, classification, presentation, or disclosure that is required for the item to be in accordance with the applicable financial reporting framework. Misstatements can arise from error or fraud. Where the auditor expresses an opinion on whether the financial statements are presented fairly, in all material respects, or give a true and fair view, misstatements also include those adjustments of amounts, classifications, presentation, or disclosures that, in the auditor’s judgment, are necessary for the financial statements to be presented fairly, in all material respects, or to give a true and fair view.