👉 Audit, in accounting and finance, is a process by which an auditor examines financial statements for accuracy and compliance with auditing standards. Auditors are responsible for verifying that the financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) and other relevant accounting standards. Audits typically involve reviewing records, interviewing individuals involved in the preparation of the financial statements, and examining the systems and procedures used to record transactions. The goal is to ensure that the financial statements provide a true and fair view