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PPGPortal > Home > Concept Dictionary > A > Audit

An independent, objective assurance activity designed to add value and improve an organization’s operations.

(OECD, 2002, p. 17)


The audit function can help an organization accomplish its objectives by bringing a systematic, disciplined approach to assess and improve the effectiveness of risk management, control and governance processes. A distinction is made between regularity (financial) auditing, which focuses on compliance with applicable statutes and regulations; and performance auditing, which is concerned with relevance, economy, efficiency and effectiveness. Internal auditing provides an assessment of internal controls undertaken by a unit reporting to management while external auditing is conducted by an independent organization.


Organisation for Economic Co-operation and Development (OECD) (2002). Glossary of Key Terms in Evaluation and Results Based Management. Paris. Retrieved on June 25, 2008, from


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