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What Are Examples of Matters of Governance Interest That the Auditor

question 29

Essay

What are examples of matters of governance interest that the auditor may wish to discuss with those charged with governance?


Definitions:

General Journal Entry

A record in the general journal that includes all the financial transactions of a company, showing accounts affected, amounts, and whether those amounts are debits or credits.

Amortizing

The process of gradually paying off a debt over time through regular payments.

Straight-Line Method

A method of calculating depreciation by evenly distributing the cost of an asset over its useful life.

Semiannual Interest

An interest payment made twice per year on investment vehicles such as bonds, which represents a portion of the annual interest rate.

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