Auditor jargon

,audit adjustment is a correction of a financial information misstatement identified by the auditor, whether recorded or not,audit committee A committee of the board of directors responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results

The auditor who no longer audits that client is the predecessor auditor

,sufficiency ( sufficient) A measure of the quantity of audit evidence

The independent auditor’s objective is to obtain sufficient appropriate evidence to provide a reasonable basis for an opinion