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LSDefine
Simple English definitions for legal terms
auditor
Read a random definition: qualified personal residence trust (QPRT)
A quick definition of auditor:
An auditor is someone who checks to make sure that a person or company is doing things correctly. They look at all the records and money to make sure everything is okay. It's like a teacher checking your homework to make sure you did it right.
A more thorough explanation:
An auditor is someone who checks and verifies an individual's or organization's financial records and accounts. They make sure that everything is accurate and follows a set of standards.
- An accounting firm is hired to audit a company's financial statements to ensure they are accurate and comply with accounting standards.
- A government agency hires an auditor to check if a company is following environmental regulations.
These examples show how an auditor is responsible for verifying and ensuring compliance with specific standards. They are hired to provide an objective and unbiased assessment of an individual's or organization's financial records or compliance with regulations.