Auditing Vocabulary

noun a false or incorrect statement

• The accountant discovered a misstatement in the financial report.
• They found a mistake in the report.
• The numbers were off in the report.
• The truth was twisted in the report.

noun a branch of accounting that involves investigating financial records to uncover fraud or other illegal activities

• Forensic accounting is the application of accounting principles to legal cases.
• Forensic accounting helps uncover financial fraud through detailed analysis.
• Doing some detective work with numbers is what forensic accounting is all about.
• In a sea of financial data, forensic accounting acts as a lighthouse guiding towards the truth.

noun the practice or profession of maintaining financial records

• The field of accountancy requires a strong understanding of financial principles and regulations.
• My cousin is studying accountancy in college and she says it's pretty challenging.
• I'm thinking of switching my major to accountancy because I heard it's a solid career choice.
• In the grand scheme of business, accountancy is the backbone that keeps everything in order.