$1.$ A process that culminates in an opinion that financial statements present fairly an entity$$s financial position and results of operations in conformity with GAAP. Financial audit

$2.$ An auditor$$s judgment as to the level at which the quantitative or qualitative effects of misstatements will have a significant impact on user$$s evaluations. Materiality

$3.$ Standards prescribed by the AICPA to provide guidance for planning, conducting, and reporting on audits by CPAs. Generally accepted auditing standards $($GAAS$)$

$4.$ Professional services that include an examination, a review, or an agreed$-$upon procedure.

$5.$ Units of the government on which the auditor expresses an opinion $($e$.$g$.,$ governmental activities, each major governmental fund, etc.$)$ Performance audits