Ensuring accuracy of financial records and adherence to laws and regulations.
audit – an official examination of an organization's accounts.
internal audit – assessment performed by an organization's own staff.
external audit – evaluation conducted by an independent auditor.
audit trail – a step-by-step record by which accounting data can be traced to their source.
compliance – conforming to a rule, such as a specification, policy, standard, or law.
Sarbanes-Oxley Act or Sarbanes-Oxley or SOX – U.S. law that sets expanded requirements for all U.S. public company boards, management, and public accounting firms.
internal controls – processes designed to provide reasonable assurance regarding the achievement of objectives.
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adverse opinion – an auditor's opinion that financial statements are not fairly presented.
disclaimer of opinion – an auditor's statement that no opinion is given on the financial statements.
Jakub Marian