Across
- 4. Process ensuring related account balances
- 5. Illegal process of disguising the origins of criminal funds
- 7. State of a record before becoming documentary
- 10. What does internal audit function rely upon to gain assurance over financial controls?
- 12. In the Audit Firm Governance Code, which concept represents the shared principles that support integrity, objectivity, and public interest responsibilities within the audit firm?
- 14. Document that reduces misunderstanding and sets out audit terms
- 15. An audit that evaluates how effective an organisation’s purchasing operations are.
- 16. Which audit stage involves documenting internal controls?
Down
- 1. In a three-party audit relationship, the auditor is known as the ________.
- 2. What do we call the mechanisms implemented by management to prevent financial errors, misstatements, and irregularities?
- 3. Which department provides independent assurance to the board that risk management, governance, and control processes are operating effectively?
- 6. In order to have independent internal audit or lessen the cost of employment and so on, company could take what action for its internal audit function
- 8. Approach used by auditors to prioritise significant risks
- 9. For a company to be exempt from statutory audit in the UK, one of the qualifying conditions is that its annual ________ must be below £10.2m.
- 11. External audits face five inherent limitations often remembered using the acronym ________.
- 13. Internal control that separates responsibilities to reduce fraud risk