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noun
BusinessAn assessment of an organization's accounts or affairs or of a specific aspect of its operations, conducted (especially on a continuous basis) by members of staff, as distinct from periodic inspection by independent auditors or external consultants; the practice of undertaking such audits.
While external audits tend to focus exclusively on the finances and accounts of a business, internal audits tend to have a broader remit, seeking to ensure the effective operation of internal or statutory regulations, optimal use of a company's resources, or the fulfilment of its legal obligations as an employer.
Origin
Mid 19th century. From internal + audit.
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