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A thorough review of a company's financial records.

Business Glossary provided by
An audit is a systematic, independent examination and verification of an organization's financial and accounting records and supporting documents. Conducted by a certified professional, an audit ensures the records are a fair and accurate representation of the transactions they claim to represent. It can provide assurance to stakeholders that the company's financial status is presented truthfully. Audits are mandatory for publicly traded companies.
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