Entries are selected using data analytics and criteria such as weekend or out-of-hours postings, round amounts, rarely used accounts and entries by senior users. Period-end and consolidation adjustments receive particular attention.
Source: BDS 240
Related terms
Management override of controlsManagement's ability to manipulate accounting records or prepare fraudulent financial statements by overriding controls that otherwise appear to operate effectively.Data analytics in auditUsing software to analyse, compare and test all or a large part of an entity's data in order to obtain audit evidence.FraudAn intentional act of deception by management, employees or third parties to obtain an unjust or illegal advantage.Adverse opinionThe opinion in which the auditor states that the financial statements are not presented fairly, where misstatements are both material and pervasive.Agreed-upon proceduresAn engagement in which the practitioner performs procedures agreed with the entity and, where relevant, a third party, and reports only the findings without providing assurance.Analytical proceduresThe evaluation of financial information through analysis of plausible relationships among financial and non-financial data.
Last updated: November 8, 2026 · This definition is for general information only.