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audit

[aw-dit] /ˈɔ dɪt/
noun
1.
an official examination and verification of accounts and records, especially 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
late Middle English
1400-1450
1400-50; late Middle English audite < Latin audītus the sense or act of hearing, equivalent to audī(re) to hear + -tus suffix of v. action
Related forms
auditable, adjective
reaudit, noun, verb
unaudited, adjective
well-audited, adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for audit
  • So inspection regimes are set to intensify, at a time when audit fatigue has already become a problem for suppliers.
  • The next step is that every 10 years they will have to go through an audit process.
  • They'll even send a team of experts in to do an operational audit to assess a store's efficiency.
  • It is impossible to audit all these returns, but all that request large refunds are audited.
  • The best way to catch corrupt trusted insiders is through audit.
  • Now, however, some 600000 requests for smaller refunds are selected each year for audit before payments are made.
  • Independent accountants audit the company annually.
  • And with that, he said, has come a greater need for requesting materials in an audit that could be considered confidential.
  • Where having audit experience will be helpful is in informing your research.
  • If you had your return prepared by a tax-attorney or by an accountant, it is best to let him handle the audit.
British Dictionary definitions for audit

audit

/ˈɔːdɪt/
noun
1.
  1. an inspection, correction, and verification of business accounts, conducted by an independent qualified accountant
  2. (as modifier): audit report
2.
(US) an audited account
3.
any thoroughgoing check or examination
4.
(archaic) a hearing
verb
5.
to inspect, correct, and certify (accounts, etc)
6.
(US & Canadian) to attend (classes, etc) as an auditor
Word Origin
C15: from Latin audītus a hearing, from audīre to hear
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for audit
n.

early 15c., from Latin auditus "a hearing," past participle of audire "hear" (see audience). Official examination of accounts, which originally was an oral procedure.

v.

mid-15c., from audit (n.). Related: Audited; auditing.

Online Etymology Dictionary, © 2010 Douglas Harper
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audit in Culture

audit definition


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

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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6
7
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