audit definition | Dictionary.com

au⋅dit

[aw-dit]

–noun

1.	an official examination and verification of accounts and records, esp. of financial accounts.

2.	a report or statement reflecting an audit; a final statement of account.

3.	the inspection or examination of a building or other facility to evaluate or improve its appropriateness, safety, efficiency, or the like: An energy audit can suggest ways to reduce home fuel bills.

4.	Archaic. a judicial hearing.

5.	Obsolete. an audience.

–verb (used with object)

6.	to make an audit of; examine (accounts, records, etc.) for purposes of verification: The accountants audited the company's books at the end of the fiscal year.

7.	to attend (classes, lectures, etc.) as an auditor.

8.	to make an audit of (a building or other facility) to evaluate or improve its safety, efficiency, or the like.

–verb (used without object)

9.	to examine and verify an account or accounts by reference to vouchers.

Origin:
1400–50; late ME audite < L audītus the sense or act of hearing, equiv. to audī(re) to hear + -tus suffix of v. action

Related forms:

au⋅dit⋅a⋅ble, adjective

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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au·dit (ô'dĭt)

An examination of records or financial accounts to check their accuracy.
An adjustment or correction of accounts.
An examined and verified account.

v. au·dit·ed, au·dit·ing, au·dits

v. tr.

To examine, verify, or correct the financial accounts of: Independent accountants audit the company annually. The IRS audits questionable income tax returns.
To attend (a course) without requesting or receiving academic credit.

v. intr.
To examine financial accounts.

[Middle English (influenced by auditor, auditor), from Latin audītus, a hearing, from past participle of audīre, to hear; see au- in Indo-European roots.]
au'dit·a·ble adj.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Audit

Au"dit\, n. [L. auditus a hearing, fr. audire. See Audible, a.]

1. An audience; a hearing. [Obs.]

He appeals to a high audit. --Milton.

2. An examination in general; a judicial examination.

Note: Specifically: An examination of an account or of accounts, with the hearing of the parties concerned, by proper officers, or persons appointed for that purpose, who compare the charges with the vouchers, examine witnesses, and state the result.

3. The result of such an examination, or an account as adjusted by auditors; final account.

Yet I can make my audit up. --Shak.

4. A general receptacle or receiver. [Obs.]

It [a little brook] paid to its common audit no more than the revenues of a little cloud. --Jer. Taylor.

Audit ale, a kind of ale, brewed at the English universities, orig. for the day of audit.

Audit house, Audit room, an appendage to a cathedral, for the transaction of its business.

Audit

Au"dit\, v. t. [imp. & p. p. Audited; p. pr. & vb. n. Auditing.] To examine and adjust, as an account or accounts; as, to audit the accounts of a treasure, or of parties who have a suit depending in court.

Audit

Au"dit\, v. i. To settle or adjust an account.

Let Hocus audit; he knows how the money was disbursed. --Arbuthnot.

Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc.
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Language Translation for : audit

Spanish: auditoría,

German: die Rechnungsprüfung,

Japanese: 会計検査

More Translations »

audit

The examination by an outside party of the accounts of an individual or corporation.

audit (n.)

1431, from L. auditus "a hearing," pp. of audire "hear" (see audience). Official examination of accounts, which were originally oral. The verb is attested from 1557. Auditor id attested from 1377, from Anglo-Fr. auditour, from L. auditorem (nom. auditor) "a hearer," from auditus.

Audit

1. An unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm).

2. An IRS examination of a taxpayer's return or other transactions. The IRS performs this examination to verify the correctness of these filings.

Investopedia Commentary

1. Auditors ensure the fiscal accuracy and responsibility of organizations.

2. The ultimate fear of every taxpayer.

audit

An examination of an organization's financial documents in order to determine whether the records and reports are valid and the information is fairly presented. An independent audit is usually conducted by a Certified Public Accountant who then issues an opinion as to whether the statements accurately and fairly represent the firm's operations and financial position. See also external audit, internal audit.

Main Entry: au·dit
Pronunciation: 'o-d&t
Function: noun
1 : a formal examination of an organization's or an individual's financial records often for the purpose of uncovering fraud or inaccurate tax returns; also : the final report of such an examination
2 : a methodical examination and review —audit verb

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