auditing
n. uncountable C1 Advanced US //ˈɑdətɪŋ// UK //ˈɔːdɪtɪŋ// au·dit·ing
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.
Usage
Often used as a gerund to describe the professional activity or the department responsible for it.