Medical Subject Headings (MeSH): Financial Audit

A financial audit in healthcare is an independent review of an organization’s financial statements and records to assess the accuracy and reliability of the information. Financial audits in healthcare are typically conducted by certified public accountants (CPAs) or other qualified professionals, and they are designed to provide assurance that the organization’s financial statements are presented fairly and in accordance with generally accepted accounting principles (GAAP) or other relevant financial reporting frameworks.

Financial audits in healthcare can be conducted for various reasons, such as to meet regulatory requirements, to assess the organization’s financial performance and risk, to provide assurance to stakeholders (such as shareholders, donors, and government agencies), and to improve the organization’s financial management and reporting practices.

Financial audits in healthcare can help to identify financial risks and weaknesses, ensure compliance with laws and regulations, and provide assurance to stakeholders that the organization is using its financial resources effectively and efficiently. They are an important tool for promoting transparency and accountability in healthcare organizations.