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

Accounting

Scenario:

The cost report seems inconsistent with the actual financial records. Would it be possible to arrange an accounting audit to investigate?

Response:

An accounting audit is mandatory at this point. We need to follow up on these audit findings promptly to ensure our reporting is accurate.

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.