audit

Also known as auditing

thumb|right|300px|Some typical stages in the audit process

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An audit is a systematic examination of an organization's financial records, operations, or systems to verify their accuracy and compliance with rules. Audits matter because they provide independent verification that an organization is operating correctly and honestly, which builds trust with stakeholders like investors, regulators, and the public.

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Commons category: Auditing

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~19 min read

Article

17 sections

Contents

Etymology
History
Information technology audit
Accounting
Integrated audits
Assessments
Auditors
Technological developments
Performance audits
Quality audits
Project audit
Energy audits
Operations audit
Forensic audits
See also
References
Further reading

thumb|right|300px|Some typical stages in the audit process

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." Auditing also attempts to ensure that the books of accounts are properly maintained by such entities as required by law. Auditors consider the propositions before them, obtain evidence, document their findings, and evaluate the propositions in their auditing report.