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- DictionaryAu·dit/ˈôdət/
noun
- 1. an official inspection of an individual's or organization's accounts, typically by an independent body: "audits can't be expected to detect every fraud"
verb
- 1. conduct an official financial examination of (an individual's or organization's accounts): "companies must have their accounts audited"
- 2. attend (a class) informally, not for academic credit: North American "he made use of the knowledge gleaned from economics classes he audited"
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.
AUDIT definition: 1. to make an official examination of the accounts of a business and produce a report 2. to go to a…. Learn more.
Jun 2, 2024 · An audit is an unbiased examination of the financial statements of an individual or organization. Three main types are external audits, internal audits, and IRS audits.
Quality Glossary Definition: Audit. 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.
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." [ 1] .
Audit definition: an official examination and verification of accounts and records, especially of financial accounts.. See examples of AUDIT used in a sentence.
What is Auditing? Auditing typically refers to financial statement audits or an objective examination and evaluation of a company’s financial statements – usually performed by an external third party.
Auditing, or a financial audit, is an official examination and verification of a business’s financial records. The main goal of auditing is to make sure that a company’s financial statements are accurate and are following regulatory guidelines.
An audit is an examination of the financial statements of a company, such as the income statement, cash flow statement, and balance sheet. Audits provide investors and regulators with confidence in the accuracy of a corporation’s financial reporting.
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.
