Security Officer. Security officers monitor and protect properties from illegal activities in privately-owned or public areas. Generally, security officers patrol areas, answer phone calls, monitor people, and respond to emergency situations in hospitals, power plants, and retail stores.
A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines. Independent accounting, security or IT consultants evaluate the strength and thoroughness of compliance preparations.
BREAKING DOWN 'Accounting Standard'. An accounting standard is a guideline for financial accounting, such as how a firm prepares and presents its business income and expense, assets and liabilities. The Generally Accepted Accounting Principles is comprised of a large group of individual accounting standards.EFINITION of 'Accounting Standard'. A principle that guides and standardizes accounting practices. The Generally Accepted Accounting Principles (GAAP) are a group of accounting standards that are widely accepted as appropriate to the field of accounting.