Word: Audit Program
Definition: An "audit program" is a detailed plan that outlines the specific steps and procedures that will be taken during an audit. An audit is an examination of financial records or processes to ensure everything is correct and follows rules or laws.
Usage Instructions:
The term "audit program" is often used in business, accounting, and finance contexts.
It is a noun, so it can be used in sentences as the subject or object.
Example Sentence:
Advanced Usage:
In more complex situations, an audit program can include specific criteria for evaluation, timelines, and assigned responsibilities for each step of the audit process.
Word Variants:
Audit (noun): The examination itself.
Auditing (verb): The act of performing an audit.
Auditor (noun): A person who conducts the audit.
Different Meanings:
In a non-financial context, "audit" can refer to any careful examination or review of something, like an environmental audit or a performance audit, but "audit program" specifically relates to financial and compliance audits.
Synonyms:
Audit plan
Examination plan
Review program
Idioms and Phrasal Verbs:
Summary:
An "audit program" is a crucial part of the audit process, serving as a roadmap for auditors to follow.