Audit

Auditing refers to a systematic and independent examination of books, accounts, documents and vouchers of an organization to ascertain how far the financial statements present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics started identifying an "Audit Society". The auditor perceives and recognizes the propositions before him/her for examination, obtains evidence, evaluates the same and formulates an opinion on the basis of his judgement which is communicated through his audit report.

Any subject matter may be audited. Audits provide third party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other areas which are commonly audited include: internal controls, quality management, project management, water management, and energy conservation.

Audit (disambiguation)

Audit may refer to:

Audit (telecommunication)

In telecommunications, an audit is one of:

The simplest audits consist of comparing current telecommunications billing and usage to the underlying rate structure whether that is dictated by contract, tariff, or price list. Complex audits utilize software applications, direct bargaining with service providers and activity reports that include detail down to an individual employee's usage.