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Finance Dictionary and Glossary of Investment Terms
1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm). 2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the correctness of these filings.
An examination of a company's accounting records and books conducted by an outside professional in order to determine whether the company is maintaining records according to generally accepted accounting principles. See: aAcountant's opinion.