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Definitions from WordNet

Definitions from the Web

Financial Audit

A financial audit is an examination of an organization's financial records and statements by an independent party to ensure their accuracy, integrity, and adherence to accounting principles and legal requirements.

Senses/Usages:

1. Noun - Official Examination:

When used as a noun, a financial audit refers to an official examination and evaluation of an entity's financial records, transactions, and statements.

Example sentence: The company hired a professional accounting firm to conduct a thorough financial audit.

2. Verb - Perform Audit:

When used as a verb, to financial audit means to perform the examination and verification of an organization's financial records.

Example sentence: The auditor will financial audit the company's books to ensure compliance with accounting standards.

3. Noun - Audit Report:

In this context, a financial audit is the formal written report produced as a result of the examination of an organization's financial records.

Example sentence: The CEO reviewed the financial audit and was pleased with the company's financial performance.

4. Adjective - Related to Audit:

Financial audit can also be used as an adjective to describe anything related to the process or practice of auditing financial records.

Example sentence: The company implemented new financial audit procedures to strengthen their internal controls.