What is auditing?

There are various definitions which exist describing the concept of auditing. In general though, an audit is a review for the purpose of independent verification. Exact definitions and objectives will depend upon the specific type of audit being performed (e.g. regulatory, statutory etc.), and the area of focus shifts according to the objectives of the audit meaning certain risk areas become under the spotlight. All of these factors will determine the auditor approach (i.e. what they will look for and how they will look for it).