Audit
/ˈɔːdɪt/noun
A formal check of a person's or organization's accounts, typically by an independent body.
The company's accounts are subject to an annual audit.
Often appears as...
- annual audit
- internal audit
Usage tips
Formal
Academic
Definition 1 of 4
Pro Tip 1/3Trust and Transparency
An audit enhances trust by showing that an organization's financial information is accurate.
Investors felt assured after the audit confirmed the company's financial health.
Pro Tip 2/3Expert Process
Audits are usually conducted by experts in accounting and finance to ensure precision.
Certified auditors will handle our annual financial review.
Pro Tip 3/3Independent Assessment
An external body conducting the audit helps maintain objectivity and prevents bias.
The firm brought in an independent auditor to review the accounts.
Compare with
analysisappraisalassessexaminationinspectionreviewscrutinyverification
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