Auditing defined

The term auditing is used to described a broad range of activities in our society. The following broad definition of auditing identifies a number of common attributes of most modern auditing activities. The report of the Committee on Basic Auditing Concept of the American Accounting Association defines audit as :
A systematic process of objectively obtaining and evaluating evidence regarding assertion about economic actions and events to ascertain the degree of correspondence between those assertion and established criteria and communicating the result to interested users.