1. an examination or review of financial records, documents, or transactions before they are officially processed or approved
Usage: accounting and finance term

1. to examine or review financial records or transactions in advance of official processing or approval
Usage: accounting and finance term

Examples

• The accounting department performs a preaudit on all expense reports before reimbursement.
• We preaudit vendor invoices to catch errors early in the process.
• The preaudit revealed several discrepancies in the quarterly statements.
• To preaudit the budget, the finance team reviews all proposed expenditures.
• A thorough preaudit can prevent costly mistakes later in the fiscal year.