What Does Audit Mean?

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What does Audit mean? Read on to discover the definition & meaning of the term Audit - to help you better understand the language used in insurance policies.

Audit

Audit

An audit is when one party inspects the financial records or other documents of another party for the purpose of verifying certain information. In the context of insurance, insurance companies regularly audit policyholders in order to make sure that the information they have provided to the insurer is accurate and current.

We hope the you have a better understanding of the meaning of Audit.

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