ZALIS GLOSSARY: audit


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Audit

Description of Audit
1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm).

2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the correctness of these filings.

Notes:
1. Auditors ensure the fiscal accuracy and responsibility of organizations.

2. The ultimate fear of every taxpayer.

Articles using the expression : audit in the glossary.


[Risk & Crisis Management] Poor risk management blamed as ATB takes a $30-million hit

[Turnaround Restructuring] Bally Total Fitness Reaches Agreement in Principle on Proposed Terms of a Consensual Restructuring With Holders of Senior Subordinated Notes

[Turnaround Restructuring] Alvarez & Marsal Transaction Advisory Group Continues Expansion of National Practice

[Turnaround Restructuring] Bad news is good news: 'distressed for control' investing

[Risk & Crisis Management] CFOs on the Move

[Risk & Crisis Management] Refco CEO who oversaw bankruptcy resigns

[Media & Multimedia] Sequenom Appoints New Board Member and Financial Executive