auditing
/ɔːˈdɪtɪŋ/ · aud.it.ing
noun
- The examination or review of an organization's or individual's financial records, accounts, or activities. The company hired an auditing firm to review their financial statements and ensure compliance with regulations.
- The process of evaluating or testing the effectiveness of a system, process, or product. The IT department conducted an auditing process to identify areas for improvement in the company's software development pipeline.
verb
- To examine or review financial records, accounts, or activities. The accountant will auditing the company's financial statements to ensure accuracy.
- To evaluate or test the effectiveness of a system, process, or product. The team will auditing the new software to identify any bugs or areas for improvement.
Did you know? The term 'auditing' has its roots in medieval Europe, where auditors were responsible for hearing and verifying the accounts of merchants and traders.