Auditing definition in simple words

To examine, verify, or correct the financial accounts of: Independent accountants audit the company annually

The IRS audits questionable income tax returns

To attend (a course) without requesting or receiving academic credit

To examine or evaluate (something) thoroughly: audit a house's energy consumption

Audit is performed to ascertain the validity and reliability of information

Examination of books and accounts with supporting vouchers and documents to detect and prevent error, fraud is the primary function of auditing

Auditor has to check the effectiveness of internal control systems for determining the extent of checking out the audit

Auditing is a systematic process

It is a logical and scientific procedure to examine the accounts of an organization for their accuracy

There are rules and procedures to follow

The audit is always done by an independent authority or a body of persons with the necessary qualifications