or pre-au·dit
noun Accounting. an examination of vouchers, contracts, etc., in order to substantiate a transaction or a series of transactions before they are paid for and recorded.
What is the meaning of pre-audit?
Pre-audits are reviews of invoices, contracts, purchase orders, and other requests for funds to substantiate a transaction or series of transactions before they are executed and recorded. ... Faced with this dilemma, companies often entrust the pre-audit role to internal audit.
What is the difference between pre-audit and post audit?
Pre-audit is the examination of financial transactions before consummation. ... Post-audit covers the same areas aside from tracing the transaction under audit to the books of accounts.
