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Glossary of Auditing Terms

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Auditing Terms - N
  • Narrow-Based Index (NBI) - (futures contract on a small group of stocks)

  • National Adjudicatory Council (NAC) - (NASDAQ)

  • National Aeronautics and Space Administration (NASA) - (Federal agency with oversight of the US space program.)

  • National Association of Accountants (NAA) - (organization mostly of non-CPAs, management accountants)

  • National Association of Corporate Directors (NACD) - (organization promoting/assisting directors and boards of directors)

  • National Association of Home Builders (NAHB) -

  • National Association of Investors Corporation (NAIC) - (nonprofit educational association)

  • National Association of Local Government Auditors (NALGA) - (organization for public sector auditors)

  • National Association of Manufacturers (NAM) -

  • National Association of Personal Financial Advisors (NAPFA) -

  • National Association of Purchasing Agents (NAPA) -

  • National Association of Purchasing Management (NAPM) -

  • National Association of Real Estate Investment Trusts (NAREIT) - (trade association for income-producing real estate businesses)

  • National Association of Realtors (NAR) -

  • National Association of Securities Dealers (NASD) - (organization of brokers and dealers who handle over-the-counter market securities)

  • National Association of Securities Dealers Automated Quotations system (NASDAQ) - (electronic stock market listing service)

  • National Association of State Boards of Accountancy (NASBA) - (national organization representing the state licensing boards/agencies regulating the CPA profession)

  • National Audit Office (NAO) - (British central government auditing agency)

  • National Automated Accounting Research System (NAARS) - (AICPA online database)

  • National Bureau of Standards (NBS) - (predecessor of the National Institute of Standards and Technology (NIST) - Department of Commerce)

  • National Council of Governmental Accounting (NCGA) -

  • National Credit Union Administration (NCUA) - (independent federal agency overseeing the federal credit union system)

  • National Exchange Market System (NEMS) -

  • National Federation of Independent Business (NFIB) - (advocacy organization for small and independent businesses)

  • National Fire Protection Agency (NFPA) -

  • National Futures Association (NFA) - (self-regulatory organization for the futures industry)

  • national income (NI) - (all income earned by country's people)

  • National Income and Product Account (NIPA) - (statement/country economic measure showing national income and national products produced during a given period)

  • National Institute of Standards and Technology (NIST) - (federal agency within the U.S. Department of Commerce which provides standards for computers and information technology systems)

  • National Market System (NMS) - (concept/goal of creating a common national electronic securities market system in order to foster competition)

  • National Mediation Board (NMB) -

  • National Securities Clearing Corporation (NSCC) -

  • National Security Agency (NSA) - (federal agency)

  • Negative Income Tax (NIT) - (proposed guaranteed minimum income/subsidy system for those too poor to pay taxes)

  • National Investor Relations Institute (NIRI) - (professional association of corporate officers/consultants)

  • National Labor Relations Act (NLRA) -

  • National Labor Relations Board (NLRB) -

  • National Market Advisory Board (NMAB) -

  • National Securities Trading System (NSTS) - (all-electronic stock exchange created by the National Stock Exchange)

  • National Small Business Association (NSBA) -

  • National Society of Accountants (NSA) -

  • National Society of Public Accountants (NSPA) - (predecessor of the National Society of Accountants)

  • National Stock Exchange (NSX) - (Chicago-based all-electronic stock exchange of registered broker-dealers)

  • National Stock Exchange of India (NSE) -

  • Negotiable Order of Withdrawal (NOW) - (bank or savings and loan withdrawal ticket that is a negotiable instrument)

  • Net Asset Value (NAV) - (market value of a mutual fund share)

  • Net Asset Value (NAV) - (book value of a company's different classes of securities)

  • net domestic products (NDP) - (gross domestic products minus depreciation)

  • net free cash flow (NFCF) - (measure of cash flow available after an enterprise meets its essential obligations)

  • net gain (NG) -

  • net income (NI) - (excess of revenues over expenses of a business in a given period of time)

  • net income after taxes (NIAT) - (income less taxes)

  • net income before interest and taxes (NIBIT) - (net income before deducting interest expense and income taxes)

  • net interest cost (NIC) - (total interest that will be paid on a debt/total amount of interest that a corporate or municipal bond issuer will end up paying on issuance)

  • net loss (NL) - (excess of expenses over revenue)

  • Net National Product (NNP) -

  • Net Operating Income (NOI) - (income after deducting for operating expenses but before deducting for income taxes and interest)

  • Net Operating Loss (NOL) - (tax term for excess of business expenses over income in a tax year/generally - excess of operating expenses over operating revenue (gross profit) )

  • net operating profit after tax (NOPAT) -

  • net operating profit less adjusted tax (NOPLAT) -

  • Net Present Value (NPV) - (difference between the present value of cash inflows generated by a project and the amount of the initial investment)

  • net quick asset (NQA) - (quick assets (cash and cash equivalents) minus current liabilities)

  • net realizable value (NRV) - (what a seller will realize from the sale of an asset, after deducting selling costs)

  • net tangible assets (NTA) - (total assets minus intangible assets and liabilities)

  • net worth (NW) - (a company's total assets in excess of total liabilities)

  • Network Access Control (NAC) - (methods and technologies used to impose security and configuration settings on a device before it is allowed into a corporate network)

  • Network Access Point (NAP) - (traffic concentration spot, point of convergence for Internet access by many Internet service providers)

  • network access server (NAS) - (server handling user authentication, access control, and accounting, while maintaining connectivity)

  • Network Address Translation (NAT) - (method of IP address assignment that uses an alternate public IP address to hide a system's real IP address - allows private Internet Protocol addresses to be translated into Internet routable (public) addresses )

  • network attached storage (NAS) - (mass storage device that attaches directly to a network) (dedicated file server that has its own file system and typically uses hardware and software designed for serving and storing files)

  • Network Control Protocol (NCP) - (protocol which establishes and configures different network layer protocols)

  • network interface card (NIC) - (communication card in a computer which allows communication with other computers on a network)

  • Network Time Protocol (NTP) - (protocol that is used to contact authoritative time servers in order to establish a synchronized time source within the network)

  • New York Board of Trade (NYBOT) - (commodity exchange trading futures and options on agricultural products and currencies)

  • New York Coffee, Sugar and Cocoa Exchange (NYCSCE) - (former commodity exchange for coffee, sugar and cocoa)

  • New York Cotton Exchange (NYCE) - (former exchange for cotton)

  • New York Futures Exchange (NYFE) - (exchange for futures and options)

  • New York Mercantile Exchange (NYMEX) - (largest world physical commodity exchange for energy and metals products - oil, gas, electricity, gold, copper, aluminum)

  • New York Stock Exchange (NYSE) - (exchange for equities/stocks, bonds, and derivatives)

  • New Zealand Futures and Options Exchange (NZFOE) -

  • New Zealand Stock Exchange (NZSE) -

  • Newly Industrialized Countries (NICS) -

  • Next-In, First-Out (NIFO) - (inventory valuation method where the cost of sale of the item is based on the cost to replace (next purchase) rather than historical cost)

  • No Par Value stock (NPV) - (company stock issued without a stated value)

  • nonaudit services (NAS) - (alternative term for management advisory services)

  • nondisclosure agreement (NDA) - (contract in which parties agree not to disclose information considered confidential)

  • Nonequity Options (NEO) - (Option contracts offered in foreign currencies, bonds, commodities, metals)

  • nonexecutive director (NED) - (British term for outside director)

  • non-government, nonbusiness organization (NNO) -

  • nongovernmental organization (NGO) - (private sector organization providing assistance, relief, and aid to developing countries)

  • non-qualifying stock option (NSO) - (option which does not qualify for long-term capital gains treatment)

  • Normal Investment Practice (NIP) - (industry practice norms/customer past activity)

  • Normal Trading Unit (NTU) - (standard size of a trading unit/block for a particular security)

  • North American Free Trade Agreement (NAFTA) - (trade agreement between the U.S., Canada, and Mexico)

  • North American Industry/Industrial Classification System (NAICS) - (federally-designed company/industry identification system)

  • North American Securities Administrators Association (NASAA) - (voluntary association of state securities administrators)

  • North Atlantic Treaty Organization (NATO) - (military alliance)

  • Not Sufficient Funds check (NSF) - (check written on a bank account with a balance insufficient to cover/pay the check)

  • notary public (NP) -

  • Note Issuance Facility (NIF) -

  • Notes Payable (N/P) -