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Audit vs. Evaluation — What's the Difference?

Audit vs. Evaluation — What's the Difference?

Difference Between Audit and Evaluation

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Audit

An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report.Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement.

Evaluation

Evaluation is a systematic determination of a subject's merit, worth and significance, using criteria governed by a set of standards. It can assist an organization, program, design, project or any other intervention or initiative to assess any aim, realisable concept/proposal, or any alternative, to help in decision-making; or to ascertain the degree of achievement or value in regard to the aim and objectives and results of any such action that has been completed.

Audit

An examination of records or financial accounts to check their accuracy.

Evaluation

The making of a judgement about the amount, number, or value of something; assessment
An initial evaluation of the programme
The evaluation of each method

Audit

An adjustment or correction of accounts.
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Evaluation

To ascertain or fix the value or amount of
Evaluate the damage from the flood.

Audit

An examined and verified account.

Evaluation

To determine the importance, effectiveness, or worth of; assess
Evaluate teacher performance.

Audit

A thorough examination or evaluation
An audit of water use.

Evaluation

(Mathematics) To calculate the numerical value of; express numerically.

Audit

To examine, verify, or correct the financial accounts of
Independent accountants audit the company annually. The IRS audits questionable income tax returns.

Evaluation

An assessment, such as an annual personnel performance review used as the basis for a salary increase or bonus, or a summary of a particular situation.
The result of the semestral evaluation will go towards your final score.

Audit

To attend (a course) without requesting or receiving academic credit.

Evaluation

(mathematics) A completion of a mathematical operation; a valuation.

Audit

To examine or evaluate (something) thoroughly
Audit a house's energy consumption.

Evaluation

Determination of the value of a variable or expression.

Audit

To conduct an audit.

Evaluation

Valuation; appraisement.

Audit

A judicial examination.

Evaluation

Act of ascertaining or fixing the value or worth of

Audit

An examination in general.

Evaluation

An appraisal of the value of something;
He set a high valuation on friendship

Audit

An independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures
National Assembly audit

Audit

The result of such an examination, or an account as adjusted by auditors; final account.

Audit

(Scientology) Spiritual counseling, which forms the core of Dianetics.

Audit

(obsolete) A general receptacle or receiver.

Audit

(obsolete) An audience; a hearing.

Audit

To examine and adjust (e.g. an account).
To audit the accounts of a treasure, or of parties who have a suit depending in court

Audit

To conduct an independent review and examination of system records and activities in order to test the adequacy and effectiveness of data security and data integrity procedures, to ensure compliance with established policy and operational procedures, and to recommend any necessary changes

Audit

(Scientology) To counsel spiritually.

Audit

To attend an academic class without the opportunity to receive academic credit.

Audit

An audience; a hearing.
He appeals to a high audit.

Audit

An examination in general; a judicial examination.

Audit

The result of such an examination, or an account as adjusted by auditors; final account.
Yet I can make my audit up.

Audit

A general receptacle or receiver.
It [a little brook] paid to its common audit no more than the revenues of a little cloud.

Audit

To examine and adjust, as an account or accounts; as, to audit the accounts of a treasure, or of parties who have a suit depending in court.

Audit

To settle or adjust an account.
Let Hocus audit; he knows how the money was disbursed.

Audit

An inspection of the accounting procedures and records by a trained accountant or CPA

Audit

A methodical examination or review of a condition or situation;
He made an audit of all the plants on his property
An energy efficiency audit
An email log audit

Audit

Of accounts and tax returns; with the intent to verify

Audit

Attend academic courses without getting credit

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