Audit, assurance & evidence · Core
Audit
Also called: audit engagement
ELI5
An independent or structured examination of information, controls or compliance against criteria.
Used in conversation
“Can we trace audit from the report back to the source record?”
Pitch context
You will see “Audit” in board papers, contracts, policies, risk registers and compliance reports when the discussion reaches audit, assurance & evidence.
Why it matters: In audit, assurance & evidence, a loose definition can change rights, obligations, approval, disclosure or enforceability.
Caution
Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.
Connected terms
- AssuranceAn audit is a specific assurance engagement under defined standards; assurance is the broader family of work that increases confidence in information.
Sources & evidence · 5
Direct term-level sources and supporting source families.
- IFRS Foundation — IFRS GlossaryDirect source · primary · checked 2026-08-16
- Financial Accounting Standards Board — FASB Accounting Standards CodificationDirect source · primary · checked 2026-08-16
- OECD — G20/OECD Principles of Corporate Governance 2023Direct source · institutional · checked 2026-08-16
- U.S. Securities and Exchange Commission — EDGAR and filing resourcesSupporting source family · primary · checked 2026-08-16
- National Institute of Standards and Technology — Computer Security Resource Center GlossarySupporting source family · primary · checked 2026-08-16