ELI5: Explain Like I'm 5

Audit

An audit is like a check-up for a company or organization. Just like you go to the doctor to make sure your body is healthy, an audit checks to make sure a company is doing the right things. During an audit, an auditor looks at all the different parts of a company’s financial records and makes sure they’re accurate. The auditor also looks at how the company manages its money and makes sure everything is in order.