closing audit
[/ˈkloʊzɪŋ ˈɔːdɪt/]
nounpl: closing audits
auditoria de encerramento
1. A final audit conducted at the end of an accounting period, fiscal year, or project to verify the accuracy of financial records and ensure all accounts are properly closed
The closing audit confirmed that all transactions were recorded correctly before the fiscal year ended.
A auditoria de encerramento confirmou que todas as transações foram registradas corretamente antes do encerramento do exercício fiscal.
2. An examination of financial statements and records performed by auditors to validate final balances and compliance with accounting standards prior to issuing a final audit report
The external auditors conducted a closing audit to review the company's financial position.
Os auditores externos conduziram uma auditoria de encerramento para revisar a posição financeira da empresa.
In Brazil, closing audits are a critical requirement for publicly traded companies and are typically conducted by Big Four accounting firms or other registered auditors. The process is heavily regulated by CVM (Comissão de Valores Mobiliários) for listed companies and follows IFRS standards. In the USA, closing audits are mandated for publicly traded companies by the SEC and must comply with GAAP or IFRS standards.
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