Audit example sentences

"Audit" Example Sentences

1. The company hired a team of auditors to conduct a thorough audit of their financial statements.
2. The IRS requested an audit of the small business owner's tax returns.
3. The internal audit team discovered several discrepancies in the company's expense reports.
4. The audit report highlighted areas where the company could improve their risk management practices.
5. The accountant suggested performing an audit of the company's accounting system to ensure accuracy.
6. The bank commissioned an independent audit of the mortgage portfolio to assess its risk profile.
7. The government agency conducted an audit of the organization's compliance with environmental regulations.
8. The audit committee met to discuss the findings of the external auditors.
9. The nonprofit organization underwent an audit to maintain its accreditation status.
10. The audit trail provided a detailed record of all changes made to the financial system.
11. The company's reputation was damaged after an audit revealed fraudulent activity.
12. The accounting firm was hired to perform an audit of the company's internal controls.
13. The CEO decided to conduct an audit of the sales team's performance to identify areas for improvement.
14. The auditor questioned the accuracy of the inventory records during the physical audit.
15. The financial statements were adjusted based on the audit findings to reflect the true financial position of the company.
16. The audit report included recommendations for improving the efficiency of the supply chain management process.
17. The audit team confirmed that no inappropriate transactions had occurred during the accounting period.
18. The company had to pay a fine for failing to comply with the audit requirements of the regulatory body.
19. The external auditor provided an independent opinion on the accuracy of the financial statements during the annual audit.
20. The audit committee approved the appointment of the new external auditor for the next financial year.
21. The internal auditor requested access to additional data to complete the audit of the IT system.
22. The audit scope was expanded to include a review of the company's cybersecurity practices.
23. The company's management committed to implementing the recommendations of the audit report.
24. The audit team found evidence of fraud and requested an investigation by law enforcement.
25. The audit process helped uncover inefficiencies in the organization's budgeting process.
26. The audit trail revealed unauthorized changes to the employee payroll records.
27. The board of directors scheduled a special meeting to review the audit findings before presenting them to shareholders.
28. The auditor raised concerns about the reliability of the financial information provided by management during the audit.
29. The audit confirmed that the company was adhering to industry regulations and standards.
30. The accounting software included an audit module to enable users to monitor changes to the system.

Common Phases

1. Conducting an audit;
2. Reviewing audit findings;
3. Implementing recommended audit actions;
4. Performing regular audits;
5. Hiring an external auditor;
6. Evaluating audit results;
7. Developing an audit plan;
8. Completing an audit report;
9. Adhering to auditing standards;
10. Documenting audit procedures.