Difference between revisions of "Audit"

Revision as of 16:29, July 11, 2021

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-'''Audit''' is a process to ascertain if results have been declared with an acceptable level of accuracy and presented in a way that will not mislead.  Whilst an audit is usually associated with accounting (financial audit), it may also be a used to verify a person, product, company, agency or a process. The U.S. [[Census]] bureau conducts an audit every ten years to determine every member of the population.
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-Audits may be "external" or "internal".  An external audit is carried out by personnel and organisations independent of the organisation being audited.  Reports and accounts that are made public are, if audited at all, externally audited.  An internal audit is carried out within an organisation to give that organisation confidence in its own procedures.  Internal audits are often both wider in scope and more detailed than external audits.
-[[Category:Business]]