Definition of audit acc to american accounting institution
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According to the International Federation of Accountants (IFAC);
An audit is the independent examination of financial information of an entity, whether profit oriented or not and irrespective of its size, or legal form, when such an examination is conducted with a view to expressing an opinion thereon.
An audit is the independent examination of financial information of an entity, whether profit oriented or not and irrespective of its size, or legal form, when such an examination is conducted with a view to expressing an opinion thereon.
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