audit-findings

Vocabulary Word

Definition

'Audit findings' are the outcomes discovered during an audit. This could represent both good and bad points, like finding out a machine is broken, or that an employee is doing a really great job.

Examples in Different Contexts

In compliance audit, 'audit findings' detail how well a company follows legal and regulatory requirements. A compliance officer might explain, 'The audit findings indicated a need for better data protection measures to comply with privacy regulations.'

Practice Scenarios

Quality-Assurance

Scenario:

We need to ensure our products meet the guaranteed quality standards. Could you schedule an audit to identify any possible deviations?

Response:

An audit is a good idea. Audit findings can help us identify where and why the deviations are occurring.

Business

Scenario:

There seems to be a significant disparity between the reported revenue and the actual cash flow.

Response:

I agree, and I would recommend a thorough review of our financials. The audit findings might shed some light on this issue.