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Iowa State Auditor

What is the difference between an examination and an audit?

Iowa Code section 11.1(1)(b) defines "Examination" as "procedures that are less in scope than an audit but which are directed toward reviewing financial activities and compliance with legal requirements."

Simply stated, an examination is a set of procedures narrower in scope than an audit, but also with less cost than an audit. Rather than focusing on auditing the financial statements of a City, the examination is designed to focus on the financial processes of a City to help ensure accountability and compliance and minimize the opportunity for fraud.

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