![Audit](https://img-cdn.financeunlocked.com/headers-images/euromoney/1.jpg?ik-sdk-version=javascript-1.0.3)
Glossary
Technical Foundations
Audit
Audit is the formal examination of a company’s annual and interim financial reports -- balance sheet, cash flow and income statements etc -- by a specialist independent third party. Audited statements are accompanied by a series of notes that are integral to the audits and which highlight accounting conventions used and explanations of various terms.