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  1. Audit: Meaning in Finance and Accounting and 3 Main Types

    • An audit is a formal review of a person or company's financial records by professional accountants. Audits can be conducted internally, by employees of the organization, or externally, by an outside cert… See more

    Understanding Audits

    An audit is the review or inspection of a company or individual's accounts by an independent body. Auditors may be hired internally by the company or work for an external thi… See more

    Investopedia
    Importance of Audits

    Audits are a necessary and important part of the financial world because a company's financial health and well-being can't be upheld without proper accounting. Routine audits ensu… See more

    Investopedia
    Types of Audits

    Audits can involve financial accounts of companies or individuals. They can be conducted by external or internal auditors and they may also be completed by tax agencies li… See more

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  1. The meaning of AUDIT is a formal examination of an organization's or individual's accounts or financial situation.
    www.merriam-webster.com/dictionary/audit
    An audit is a formal review of a person or company's financial records by professional accountants. Audits can be conducted internally, by employees of the organization, or externally, by an outside certified public accountant (CPA) firm. Lenders and underwriters may require an audit in order to evaluate a company's financial health.
    www.investopedia.com/terms/a/audit.asp
    ISO 19011:2018 defines an audit as a "systematic, independent and documented process for obtaining audit evidence [records, statements of fact or other information which are relevant and verifiable] and evaluating it objectively to determine the extent to which the audit criteria [a set of policies, procedures or requirements] are fulfilled."
    asq.org/quality-resources/auditing
    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."
    en.wikipedia.org/wiki/Audit
    audit [ aw -dit ] Phonetic (Standard)IPA noun an official examination and verification of accounts and records, especially of financial accounts.
    www.dictionary.com/browse/audit
     
  2. Dictionary
    au·dit
    [ˈôdət, ˈädət]
    noun
    audit (noun) · audits (plural 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
    audit (verb) · audits (third person present) · audited (past tense) · audited (past participle) · auditing (present participle)
    1. conduct an official financial examination of (an individual's or organization's accounts):
      "companies must have their accounts audited"
    2. NORTH AMERICAN ENGLISH
      attend (a class) informally, not for academic credit:
      "he made use of the knowledge gleaned from economics classes he audited"
      Similar:
      be present at
      be an observer at
    Origin
    late Middle English: from Latin auditus ‘hearing’, from audire ‘hear’, in medieval Latin auditus (compoti) ‘audit (of an account)’, an audit originally being presented orally.
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  3. Audit Definition & Meaning - Merriam-Webster

     
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  8. Audit: Definition, Objectives, Features, Origin, …

    An audit is one assurance service provided by competent and qualified professional accountants. The objective of an audit of financial statements is to enable the auditor to express an opinion of where the financial statements are …

  9. What is Auditing? (Definition, Purpose, Example, And More)

  10. What is an audit? Definition and examples - Market …

    An Audit is a formal examination, inspection, and verification of a commercial enterprise’s, organization’s, or any entity’s accounts. Audits are usually carried out by an independent party. We call somebody who carries out an audit an …

  11. What is Auditing? definition, types, objectives and …

    Definition: Auditing is the procedure in which a qualified individual examines the books of accounts and assemble the evidence to form an assessment and convey their point of view to the responsible person or the management by submitting …

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