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"[citation needed] It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics have started identifying an "Audit Society".
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