year-end audit
[/jɪr ɛnd ˈɔːdɪt/]
nounpl: year-end audits
auditoria de final de ano
1. A comprehensive examination and verification of a company's financial records, accounts, and statements conducted at the end of the fiscal or calendar year to ensure accuracy, compliance with accounting standards, and internal control effectiveness
The company underwent a year-end audit to verify all financial transactions before publishing their annual report.
A empresa passou por uma auditoria de final de ano para verificar todas as transações financeiras antes de publicar seu relatório anual.
2. An independent review performed by external or internal auditors to assess the organization's financial health and regulatory compliance for the concluded fiscal period
Our year-end audit revealed several discrepancies in the accounts payable department.
Nossa auditoria de final de ano revelou várias discrepâncias no departamento de contas a pagar.
Year-end audits are critical in both American and Brazilian corporate environments, required by law for public companies and crucial for financial transparency. In Brazil, they are mandated by the Brazilian Accounting Standards Board (CPC) and regulated by the Securities and Exchange Commission (CVM). The process typically occurs between December and March for companies following the calendar year as their fiscal year.
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