Definition

Audit Note Book

              During the course of an audit, an auditor has to make several queries which might not have been satisfactorily answered, he might have taken down the totals of different books of account, and certain other points which he would like to incorporate in his audit report. Lest he might forget these points, he notes them down in a book which is called an Audit Note Book. This book is sometimes called Memoranda Book. It may be a bound or loose leaf book.

Share it:  Cite

More from this Section

  • Stock dividend
    A stock dividend is a pro rate distribution to stockholders of the corporation’s own ...
  • Sales journal
    Sales journal is a special journal that records all sales of merchandise on account. Cash ...
  • General ledger & Control account
    A general ledger account summarizes the detailed data from a subsidiary ledger. For example, ...
  • Free cash flow
    Free cash flow means cash provided by operating activities adjusted for capital expenditures ...
  • Post-closing trial balance
    The post-closing trial balance is a list of permanent accounts and their balances after ...