### Question
How is the "audit" defined?


### Answer
The term **audit** is defined in *15 U.S.C. § 7201* as follows -

> an examination of the financial statements of any issuer by an independent public accounting firm in accordance with the rules of the Board or the Commission (or, for the period preceding the adoption of applicable rules of the Board under section 7213 of this title, in accordance with then-applicable generally accepted auditing and related standards for such purposes), for the purpose of expressing an opinion on such statements

#### Citation:
  - *15 U.S.C. § 7201*
  - Heading: **CHAPTER 98-PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY**

