For example The auditors report confirmed that it has been a very profitable year for the company. Show source/s Plain English Campaign Give feedback This page was not useful This page was useful Thank you for your feedback. If you have another few minutes please take the time to tell us about our new Dictionary service. Thank you for your answer, if you can tell us more that would really help Update
Statutory audit An audit required by law. Certain companies have to have their accounts audited by suitably qualified accountants.
Audit An independent examination of an organisation's records and financial statements (report and accounts) to make sure that: the financial statements show a fair reflection of the financial position at the accounting date the income and spending is shown accurately and the financial statements meet any legal conditions the financial statements are drawn up clearly