Audit, Auditing and Auditor : Explanations in simple English

Business Dictionary :
Audit, Auditing and Auditor

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Audit : noun : examination of the books and accounts of a company

• To carry out the annual audit

External Audit or independent audit = audit carried out by an independent auditor

Internal Audit = audit carried out by a department inside the company

• He is the manager of the internal audit department.

Audit : verb : to examine the books and accounts of a company

• To audit the accounts

• The books have not yet been audited.

Auditing : noun : action of examining the books and accounts

Auditor : noun : person who audits

• The AGM appoints the company's auditors.

External Auditor = independent person who audits the company's accounts

Internal Auditor = member of staff who audits a company's accounts

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