What does ADR mean in BUSINESS
An Audit Discrepancy Report (ADR) is a document issued by an auditor to summarize and explain differences between audited financial information and related items. It is used to help the auditor identify areas that need improvement and pinpoint those responsible for discrepancies.
ADR meaning in Business in Business
ADR mostly used in an acronym Business in Category Business that means Audit Discrepancy Report
Shorthand: ADR,
Full Form: Audit Discrepancy Report
For more information of "Audit Discrepancy Report", see the section below.
Essential Questions and Answers on Audit Discrepancy Report in "BUSINESS»BUSINESS"
What is an Audit Discrepancy Report?
An Audit Discrepancy Report (ADR) is a document issued by an auditor to summarize and explain differences between audited financial information and related items.
How does an Audit Discrepancy Report help the auditor?
An ADR helps the auditor identify areas that need improvement and pinpoint those responsible for discrepancies.
Who issues the Audit Discrepancy Report?
The Auditor is the one who issues an ADR.
What information does the Audit Discrepancy Report contain?
The ADR will contain a summary of any uncovered differences in audit findings, as well as additional details provided by the auditor regarding what they found.
How are irregularities reported in an Audit Discrepancy Report?
Irregularities identified in auditing are reported in the ADR with explanations as to how they were discovered, including dates and times of observations, names of persons contacted, quantitative evidence gathered, etc.
Final Words:
The Audit Discrepancy Report serves as a key source of communication between auditors and clients on matters of potential non-compliance or risk identified through financial audits. It also provides clarity on any action that may be necessary for rectifying discrepancies observed within these areas during examinations.
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