Meaning of “audit failure” in the English Dictionary

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"audit failure" in Business English

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audit failurenoun [ C or U ]


a situation in which an audit wrongly states that a company's accounts are correct when they contain mistakes or false statements:

Until the audit failure has been investigated, we will not know if it was due to negligence or wrongdoing.

(Definition of “audit failure” from the Cambridge Business English Dictionary © Cambridge University Press)