If you made a Dungeons & Dragons-style role-playing game out of corporate finance and you wanted your character to be an accountant, you'd hope to roll a score of 18 for auditability. Meanwhile, your scores would likely be low for strength, dexterity and charisma.
Auditability refers to an auditor's ability to properly review a company's financial records. It doesn't actually measure the ability of of the auditor. The term more denotes the organization and completeness of the company's documentation. As in: "Hey, most of the stuff you have here are estimates written on cocktail napkins and vague memories that Barry down in accounting has of checks he's written. The auditability on this job is pretty low."
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Finance: What is AICPA?6 Views
Finance a la shmoop what is the AICPA alright people when you think wild and [People dancing in a club]
crazy parties rock stars jumping into swimming pools from the seventh floor [Man jumps off rooftop into swimming pool]
teenagers in skimpy swimsuits running down the halls of hotels you don't think
of the AICPA why because it stands for the American Institute of Certified
Public Accountants and their parties are just different [Group of people sipping cocktails]
yeah the AICPA is responsible for setting US accounting standards it
sets ethical standards so there isn't a CPA somewhere writing off weekly [Roosters preparing to fight]
trips to a cockfighting arena as, you know travel expense it sets all kinds of
professional standards as well like common tax practices, financial statement
auditing practices and quality control for accounting firms so that no matter
which accounting office you visit the coffee in the lobby can't be cold [Man drinking coffee]
come on AICPA you can do better than that all right well the AICPA also puts
together and grades the exam you have to take if you want to become one of those [Boy studying for exam]
accountant people the uniform CPA exam ...Fail to pass that
baby and you may only be able to get a job counting actual beans not the [Man counting beans on conveyor belt]
financial ones so yeah the AICPA is the wizard behind
the curtain of the world of CPA-ing certified public accounting yeah they're
they're just concerned with a different kind of green like AC/DC green [Man singing AC/DC into microphone]
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