What is Audit

Question

What is Audit

Accepted Answer

Audit is a systematic examination of an organization's financial records, processes, and controls to ensure accuracy and compliance.

Audit is a process of reviewing and evaluating an organization's financial statements, transactions, and internal controls.
It involves examining financial records, documents, and supporting evidence to verify their accuracy and completeness.
Auditors assess the effectiveness of internal controls and identify any weaknesses or areas of non-compliance.
They provide independent and objective opinions on the fairness and reliability of financial statements.
Audits can be conducted by internal auditors within the organization or by external auditors hired from accounting firms.
Examples of audits include financial statement audits, internal audits, compliance audits, and operational audits.

Accepted Answer

Check for documents and files and office

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