Audit vs. Inspection

Auditnoun

A judicial examination.

Auditnoun

An examination in general.

Auditnoun

An independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures

Auditnoun

The result of such an examination, or an account as adjusted by auditors; final account.

Auditnoun

(Scientology) Spiritual counseling, which forms the core of Dianetics.

Auditnoun

(obsolete) A general receptacle or receiver.

Auditnoun

(obsolete) An audience; a hearing.

Auditverb

To examine and adjust (e.g. an account).

Auditverb

To conduct an independent review and examination of system records and activities in order to test the adequacy and effectiveness of data security and data integrity procedures, to ensure compliance with established policy and operational procedures, and to recommend any necessary changes

Auditverb

(Scientology) To counsel spiritually.

Auditverb

To attend an academic class on a not-for-academic-credit basis.

Auditnoun

An audience; a hearing.

Auditnoun

An examination in general; a judicial examination.

Auditnoun

The result of such an examination, or an account as adjusted by auditors; final account.

Auditnoun

A general receptacle or receiver.

Auditverb

To examine and adjust, as an account or accounts; as, to audit the accounts of a treasure, or of parties who have a suit depending in court.

Auditverb

To settle or adjust an account.

Auditnoun

an inspection of the accounting procedures and records by a trained accountant or CPA

Auditnoun

a methodical examination or review of a condition or situation;

Auditverb

of accounts and tax returns; with the intent to verify

Auditverb

attend academic courses without getting credit

Audit

An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report.Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement.

Inspectionnoun

The act of examining something, often closely.

Inspectionnoun

An organization that checks that certain laws or rules are obeyed.

Inspectionnoun

The act or process of inspecting or looking at carefully; a strict or prying examination; close or careful scrutiny; investigation.

Inspectionnoun

The act of overseeing; official examination or superintendence.

Inspectionnoun

a formal or official examination;

Inspection

An inspection is, most generally, an organized examination or formal evaluation exercise. In engineering activities inspection involves the measurements, tests, and gauges applied to certain characteristics in regard to an object or activity.