Audit Department
/ˈɔːdɪt dɪˌpɑːrtmənt/
Definitions
- (n.) A specialized division within an organization responsible for examining and verifying the accuracy of financial records and compliance with relevant laws and regulations.
The audit department identified discrepancies in the company's financial statements during the quarterly review.
Forms
- audit department
- audit departments
Related terms
See also
Commentary
Typically staffed by accountants or auditors, the audit department plays a critical role in risk management and regulatory compliance, ensuring organizational accountability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.