Auditing refers to the activity of inspecting and verifying the various books of accounts, as well as the financial statements and accounting documents of a company to make sure they are drawn up in line with the applicable regulatory framework for financial reporting, provided that any such activity intends to issue reports based on the reliability of such documents which may have an effect on third parties.

An Audit must be carried out by a qualified auditor or a professional audit firm with authority to issue the corresponding reports in line with the requirements and proceedings set out in Auditing law. In other words, this can be described as the review and verification of the annual accounts (balances, profit and loss) of an entity undertaken by an independent expert who is legally qualified and registered on the Official Register of Auditors.