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- DictionaryAu·dit/ˈôdət/
noun
- 1. an official inspection of an individual's or organization's accounts, typically by an independent body: "audits can't be expected to detect every fraud"
verb
- 1. conduct an official financial examination of (an individual's or organization's accounts): "companies must have their accounts audited"
- 2. attend (a class) informally, not for academic credit: North American "he made use of the knowledge gleaned from economics classes he audited"
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon."
Quality Glossary Definition: Audit. Auditing is defined as the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step.
noun. an official examination and verification of accounts and records, especially of financial accounts. a report or statement reflecting an audit; a final statement of account. the inspection or examination of a building or other facility to evaluate or improve its appropriateness, safety, efficiency, or the like:
3 days ago · 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 examination of all the financial records of a company by an independent person in order to produce a report. audit. verb [ T ] auditor. noun [ C ] (Definition of audit from the Cambridge Learner's Dictionary © Cambridge University Press) Translations of audit. in Chinese (Traditional) 金融, 查…的賬目, 審計… See more. in Chinese (Simplified)
a report or statement reflecting an audit; a final statement of account. 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.
Auditing typically refers to financial statement audits or an objective examination and evaluation of a company’s financial statements – usually performed by an external third party. Audits can be performed by internal parties and a government entity, such as the Internal Revenue Service (IRS).
