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Audited Account (Noun)

Meaning

An inspection of the accounting procedures and records by a trained accountant or CPA.

Classification

Nouns denoting possession and transfer of possession.

Examples

  • The company's financial statements were thoroughly reviewed as part of the annual audited account process.
  • After several discrepancies were discovered, the audited account revealed the need for a major overhaul of the firm's accounting practices.
  • During the audited account, the CPA flagged numerous transactions for further examination due to suspected irregularities.
  • As part of the corporate governance requirements, the board of directors mandated an annual audited account to be conducted by an independent accounting firm.
  • A detailed analysis of the company's expenses was included in the audited account report, highlighting areas where costs could be optimized.

Synonyms

  • Audit

Hypernyms

  • Method Of Accounting
  • Accounting System
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