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The meaning of AUDIT is a formal examination of an organization's or individual's accounts or financial situation. How to use audit in a sentence.
to make an official examination of the accounts of a business and produce a report: The accounts are audited annually. have sth audited They had the books audited by a qualified accountant. to make an official examination of the quality or condition of something: Our operations are regularly audited.
Jun 2, 2024 · Guide to Accounting. What Is an Audit? An audit is a formal review of a person or company's financial records by professional accountants. Audits can be conducted...
Auditing is defined as the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step.
noun. an official examination and verification of accounts and records, especially of financial accounts. a report or statement reflecting an audit; a final statement of account. the inspection or examination of a building or other facility to evaluate or improve its appropriateness, safety, efficiency, or the like:
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon."
2 days ago · By definition, auditing is an official inspection and verification of the credibility of financial reports. Audits can be conducted by either a business’s management as an internal control process or by the government, in case they notice suspicious financial activity.
Audit is an important term used in accounting that describes the examination and verification of a company’s financial records. It is to ensure that financial information is represented fairly and accurately. Also, audits are performed to ensure that financial statements are prepared in accordance with the relevant accounting standards.
to make an official examination of the accounts of a business and produce a report: The accounts are audited annually. have sth audited They had the books audited by a qualified accountant. to make an official examination of the quality or condition of something: Our operations are regularly audited.
3 days ago · 1. an official examination and verification of accounts and records, esp. of financial accounts. 2. a report or statement reflecting an audit; a final statement of account. 3. the inspection or examination of a building or other facility to evaluate or improve its appropriateness, safety, efficiency, or the like.
