Updated: Aug 20, 2021

Inspection of a set of books and/or accounts by a person other than the one who prepared them (with the object of ascertaining whether or not the books are properly kept and/or the accounts show a true and fair view of the state of affairs of the organization at the date stated) followed report to the persons by whom the auditor was appointed.

Reference: The Penguin Business Dictionary, 3rd edt.

Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.