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Auditing Acronyms

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I

IA - inactive account

IA - intangible asset (nonphysical asset with value from ownership - goodwill)

I&A - identification and authentication (identifying users and authenticating their identity)

IAAA - Inter-American Accounting Association

IAASB - International Auditing and Assurance Standards Board (arm of International Federation of Accountants (IFAC) )

IAC - income available for common stockholders

IAF - internal audit function (department responsible for internal audit)

IAFP - International Association for Financial Planning

IAM - identity and access management (organizational system used to control access to a system)

IANC - interest-adjusted net cost (valuation method of life insurance policies)

IAPC - International Auditing Practices Committee (panel of the International Federation of Accountants - predecessor of the IAASB )

IAPS - International Auditing Practice Statements (guidance on auditing issues)

IAS - International Accounting Standards (international accounting and reporting standards)

IASB - Internal Auditing Standards Board (standards-setting body for internal auditors)

IASB - International Accounting Standards Board (independent regulatory body developing global standards)

IASC - International Accounting Standards Committee (predecessor of the International Accounting Standards Board (IASB) - international body working on accounting issues/standards)

IASCF - International Accounting Standards Committee Foundation (oversight of the International Accounting Standards Board (IASB)/fundraiser)

IBOP - international balance of payments

IBRD - International Bank for Reconstruction and Development (known as the World Bank) (eonomic assistance for less-developed countries)

I/C - internal control (procedures that monitor the receipt and disbursement of funds and the recording of transactions)

ICA - International Congress of Accountants (organization for debating/resolving international accounting/auditing issues)

ICAA - Institute of Chartered Accountants in Australia

ICAA - Investment Counsel Association of America (nonprofit organization for SEC-registered investment advisory firms)

ICAB - Institute of Chartered Accountants of Bangladesh

ICAEW - Institute of Chartered Accountants in England and Wales

ICAI - Institute of Chartered Accountants of India

ICAI - Institute of Chartered Accountants in Ireland

ICAN - Institute of Chartered Accountants of Nigeria

ICANZ - Institute of Chartered Accountants of New Zealand

ICAP - Institute of Chartered Accountants of Pakistan

ICAS - Institute of Chartered Accountants of Scotland

ICASL - Institute of Chartered Accountants of Sri Lanka

ICC - International Chamber of Commerce

ICC - Interstate Commerce Commission (Federal agency created by the Interstate Commerce Act of 1887, to insure fair and reasonable rates from carriers and transportation service forms - regulatory activities of the ICC in the rail, truck, and bus industries were curtailed by legislation in the 1970s and 1980s - the ICC was abolished by the ICC Termination Act of 1995 and many of its duties were transferred to the National Surface Transportation Board (NSTB))

ICFA - Institute of Chartered Financial Analysts

ICFP - Institute of Certified Financial Planners

ICFR - internal controls over financial reporting

ICGN - International Corporate Governance Network (organization providing a forum for governance issues)

ICMA - Institute of Cost and Management Accountants

ICMP - Internet Contol Message Protocol (communications/message sytem used to determine network status, routing, computer availability)

ICOFR - internal controls over financial reporting (organizational procedures that monitor the receipt and disbursement of funds and the recording of transactions)

ICPAK - Institute of Certified Public Accountants of Kenya

ICS - industrial control system (system used for controlling/monitoring operations in industrial production/services sectors - manufacturing, chemicals, critical infrastructure - energy production/transmission)

ICS - issued capital stock (stock issued and delivered to stockholders)

ICT - information and communication technologies

ID - identification

IDB - Industrial Development Bond (debt issued by a municipality to finance plants and facilities)

IDC - intangible drilling cost (oil and gas expenditures for labor, taxes, repairs, supplies)

IDE - integrated development environment (coordinated development of program components)

IDEA - Interactive Data Electronic Application (replacement for SEC's EDGAR system)

IDEA - interactive data extraction and analysis (EDP audit tool that allows the transfer and analysis of data from other computers)

IDEA - International Data Encryption Algorithm (high-level block cipher for secure data encryption)

IDEAL - Initiating, Diagnosing, Establishing, Acting and Learning model (software process improvement program model)

IDEFIX - Integration Definition for Information Modeling

IdM - identity management (automated process for identifying/authorizing system users)

IDS - intrusion detection system (system for detecting unauthorized use or attacks on a computer network or telecommunications infrastructure)

IE - incidental expense (laundry, clothes cleaning)

IFA - International Federation of Accountants (organization for promoting global uniformity and cooperation - international guidance)

IFAC - International Federation of Accountants (organization for promoting global uniformity and cooperation - international guidance)

IFC - International Finance Corporation

IFPS - Interactive Financial Planning System

IFRS - International Financial Reporting Standards (standards adopted by the International Standards Board)

IG - Inspector General (federal office responsible for audits and investigations of programs and agencies and reporting to Congress)

IIA - Institute of Internal Auditors (professional organization of internal auditors)

IMA - Institute of Management Accounting/Accountants (national accounting organization)

IMAPI - Improved Machinery and Allied Products Institute

IMF - International Monetary Fund (organization created to supervise international financial system/lend money)

INTOSAI - International Organization of Supreme Audit Institutions (international body for governmental auditors/auditing)

I/O - input/output

IO - interest only

I-O - input-output table (table tracking industry-wide product purchases)

IOLTA - interest on lawyers' trust accounts (bank accounts of funds law firms hold for clients)

IOSCO - International Organization of Securities Commissions (Madrid-based organization of securities commissions/regulators)

IoT - Internet of Things (global network of connected devices with embedded technologies)

IP - Internet packet (Internet Protocol packet ready for sending - after addressing/labeling information has been included in packet)

IP - Internet Protocol (suite of protocols that convert data into packets before transmission and allow the packets to be reassembled into understandable data at the receiving end)

IP - intellectual property (trade secrets, copyrights, trade marks, patents)

IPE - International Petroleum Exchange (European marketplace for regulated trading of energy contracts)

IPF - information processing facility (building/location containing equipment for data processing - computer room and support areas)

IPL - initial program load (initialization procedure which loads an operating system into memory storage on start-up)

IPO - Initial Public Offering (corporation's first offering of stock to the public)

IPRs - intellectual property rights (rights from ownership of trade secrets, copyrights, trade marks, patents)

IPS - intrusion prevention system (technology/system designed to block/prevent unauthorized access to system resources)

IPSec - Internet Protocol Security (set of protocols supporting the secure exchange of packets)

IPX - Internetwork Packet Exchange (packet transmission - system/devices allowing communication between components of a system)

IR - Investor Relations

IRA - Individual Retirement Account (tax-deferred savings account)

IRC - Internal Revenue Code (U.S. federal tax code/law)

IRC - Internet relay chat (Internet text conversations)

IRM - incident reponse management (organizational planning/structure for dealing with security incidents and recovery)

IRR - internal rate of return (method of calculating/analyzing rates for projects as an aid in decision making) (interest rate that would make the present value of future cash flows equal to the cost of the initial investment)

IRS - Internal Revenue Service (branch of the federal government overseeing tax collection)

IS - income statement (summary financial statement of revenues and expenses)

IS - information systems (activities involved in gathering, processing, storing, and using information)

ISA - Information Systems Audit (Organization focused on information systems auditing, which would later become the Information Systems Audit and Control Association (ISACA).)

ISA - International Standards on Auditing (guidelines for international auditing)

ISACA - Information Systems Audit and Control Association (nonprofit industry organization for information systems professionals)

ISB - Independence Standards Board

ISBN - International Standard Book Number

ISDN - integrated services digital network (public telecommunications network providing a range of services - voice, video and data transmission)

ISE - International Securities Exchange (New York-based electronic securities, options trading)

ISE - International Stock Exchange of the United Kingdom and the Republic of Ireland (London-based securities trading)

ISE - Irish Stock Exchange (Dublin-based securities selling)

ISE - Italian Stock Exchange (Borsa Italiana)

ISG - Intermarket Surveillance Group (NASDAQ system)

ISIS - Intermarket Surveillance Information System (US stock exchange information-sharing database)

ISIS - Industry Support Information Services

ISM - Institute for Supply Management (nonprofit organization for purchasing and supply management professionals)

ISMA - International Securities Market Association

ISO - Incentive Stock Option plan (tax-free employee stock purchase plan)

ISO - International Organization for Standardization (isos - Greek word for equal) (global body for international standards)

ISO - Internet securities offering

ISP - Internet service provider (organization/business providing Internet connection services)

ISRO - International Securities Regulatory Organization

ISS - Institutional Shareholder Services (proxy voting, securities analysis, corporate governance services)

ISSN - International Standard Serial Number

IT - income tax

IT - information technology (computers and electronic communications)

ITC - investment tax credit

ITF - integrated test facility (audit technique where dummy transactions are processed along with live/actual transactions in a client's system)

ITGI - Information Technology Governance Institute

ITIL - Information Technology Infrastructure Library (concepts and policies for information technology infrastructure management)

ITSA - Insider Trading Sanctions Act of 1984 (SEC authorization to impose penalties for illegal trading)

ITSM - information technology service management (incident management/continuity of service)

ITT - invitation to tender (request to vendors to submit project proposal bids)

IVA - inventory valuation adjustment

IVR - interactive voice response