Term
| Performance-focused Engagmenents |
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Definition
| Focus directly on operational, reporting, and/or compliance performance. |
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Term
| Controls-focused Engagements |
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Definition
| Focus on the design adequacy and operating effectiveness of controls implemented to provide reasonable assurance that performance objectives are met. |
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Term
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Definition
| What the auditee is striving to achieve. |
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Term
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Definition
| After-the-fact statements of what was achieved. |
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Term
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Definition
| The combination of internal and external risk factors in their pure, uncontrolled state. |
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Term
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Definition
| An activity designed to reduce risk associated with a critical business objective. |
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Term
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Definition
| A document that lists the procedures to be followed during an engagement, designed to achieve the engagement plan. |
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Term
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Definition
| A finding, determination, or judgment derived from the internal auditor's test results. |
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Term
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Definition
| The follow-up process established by the CAE to ensure that management actions have been effectively implemented or that senior management has accepted the risk of not taking action. |
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