auditing
n.the process of checking a person's or company's financial records to make sure they are correct and honest.
n.the systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organisation to ascertain how far the financial statements present a true and fair view.
“The company is undergoing its annual auditing this week.”
“Rigorous auditing of the firm's accounts revealed several discrepancies that had gone unnoticed for years.”
“The shift toward automated auditing has allowed firms to process vast quantities of data in real time, significantly reducing the window for undetected financial irregularities.”
Often used as a gerund to describe the professional activity or the department responsible for it.
“He had hoped the agreement would have done more to address how social networks’ algorithms steer young users toward content, as well as instituted independent auditing and quantifiable obligations for reducing harm.”
“Providers should be required to ensure that AI-based advice is consistently aligned with customers' interests and safeguarded through appropriate monitoring and auditing mechanisms," Herweg says.”