audit

noun C1

Meaning

An audit is a systematic and independent examination of financial statements, records, or processes, conducted to assess compliance with established standards, regulatory requirements, or internal controls, ultimately aiming to enhance the accuracy and re
💡 While "audit" is commonly associated with financial contexts, it can also refer to evaluations in various fields such as compliance, performance, and quality assurance; thus, it is important to specify the type of audit being discussed to avoid ambiguity.

Example Sentences

The audit revealed significant discrepancies in the financial statements .
The company scheduled an audit to review its financial statements thoroughly .
The company scheduled an audit to review its financial statements .

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