Audit Department Definition | Meaning Of Audit Department In Online Law Dictionary

Definition Of Audit Department:

A unit within a company that is responsible for overseeing the procedures and accuracy of recordkeeping and accounting functions within that company.

The audit department conducts periodic audits, typically with a much greater emphasis on detail than that of a company's independent public accountants.The audit department is usually charged with creating and implementing procedures, controls and oversight for all business areas that have input into the financial books and records of a company. It also usually has responsibility for correcting any deficiencies noted by the independent accountants.

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