audit

Definition 1

Accounting: Systematic examination and verification of a firm's books of account, transaction records, other relevant documents, and physical inspection of inventory by qualified accountants (called auditors). See also external audit and internal audit.

Definition 2

Quality control: Periodic (usually every six months) onsite-verification (by a certification authority) to ascertain whether or not a documented quality system is being effectively implemented.

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audit is...

... in the Accounting & Auditing and Quality Control & Management subjects.
... an essential investing term.

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