Meaning of Auditing
Understand the Problem
The question is asking for the definition of 'auditing', which generally refers to the systematic examination of financial records and statements to ensure accuracy and compliance with established standards.
Answer
Auditing is the formal examination of financial accounts and records.
Auditing is the formal examination, review, and verification of financial accounts and records to ensure accuracy and legal compliance.
Answer for screen readers
Auditing is the formal examination, review, and verification of financial accounts and records to ensure accuracy and legal compliance.
More Information
Audits are essential in ensuring the accuracy and compliance of financial records, providing assurance to stakeholders and identifying areas for improvement.
Sources
- What Is Auditing? Definition, Types & Importance - Deskera - deskera.com
- Audit Definition & Meaning - Merriam-Webster - merriam-webster.com
- What is Audit? Definition of Audit, Audit Meaning - economictimes.indiatimes.com
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