Shadow Audit definition

Shadow Audit means audited consolidated financial statements of Parent and its Subsidiaries prepared under IFRS, consistently applied, together with an unqualified opinion (other than (a) a “going concern” or similar qualification or exception as to or a qualification resulting solely from the scheduled maturity of the Notes occurring within one year from the date such opinion is delivered and (b) any non-material qualifications arising solely as a result of a change in IFRS or change in practice or interpretation by the Danish Business Authority or other Danish Governmental Authority) on the financial statements from an Approved Accounting Firm.
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Shadow Audit means an Inspection Audit carried out by another Auditor that the Auditor observes in order to improve their knowledge of auditing practices and auditor competencies.
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Examples of Shadow Audit in a sentence

  • Agree to allow representatives of the APM and/or RBA staff to accompany the Audit Firm to Shadow Audit the VA with the objective of Audit firm and VA Process improvement.

Related to Shadow Audit

  • Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Independent Auditor has the meaning specified in Section 6.01(a).

  • Energy audit means a systematic procedure with the purpose of obtaining adequate knowledge of the existing energy consumption profile of a building or group of buildings, an industrial or commercial operation or installation or a private or public service, identifying and quantifying cost-effective energy savings opportunities, and reporting the findings;

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.