Financial Audit
/ˈfaɪnænʃəl ˈɔːdɪt/
Definitions
- (n.) An independent examination of financial statements and related records to ensure accuracy and compliance with applicable laws and accounting standards.
The company underwent a financial audit to verify its tax filings.
- (n.) A process often mandated by law or regulation to assess financial integrity and detect fraud within an organization.
Regulators require a financial audit for publicly traded companies annually.
Related terms
See also
Commentary
Financial audits play a key role in ensuring transparency and legal compliance in corporate governance and regulatory frameworks.
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.