internal audit

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Internal Audit

Definition: Internal audit refers to an independent examination and evaluation of an organization's financial and operational activities conducted by internal auditors.

Examples:

As part of the internal audit process, the company reviewed its financial records to ensure compliance with accounting principles.
The internal audit team conducted a thorough analysis of the organization's internal controls to assess their effectiveness.
During the internal audit, the team identified several areas where operational efficiency could be improved.
The internal audit department plays a crucial role in detecting and preventing fraudulent activities within the organization.

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