audit

American  

[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.

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verb (used with object)

1. 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.

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

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

verb (used without object)

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

audit British  

/ ˈɔːdɪt /

noun

1. 1. an inspection, correction, and verification of business accounts, conducted by an independent qualified accountant

   2. ( as modifier )

      audit report

2. an audited account

3. any thoroughgoing check or examination

4. archaic a hearing

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verb

1. to inspect, correct, and certify (accounts, etc)

2. to attend (classes, etc) as an auditor

audit Cultural  

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

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Other Word Forms

• auditable adjective
• reaudit noun
• unaudited adjective
• well-audited adjective

Etymology

Origin of audit

First recorded in 1400–50; late Middle English audite, from Latin audītus “the sense or act of hearing,” noun derivative of audīre “to hear”

Example Sentences

The county conducted an audit of Harm Reduction-SD in April 2023 that revealed “significant financial control weaknesses including insufficient bank reconciliations and a deficient general ledger,” prosecutors allege.

From Los Angeles Times

Other experts have warned that revoking permits and seizing operations has disrupted plans to audit and investigate companies and determine their precise responsibility for the disaster.

From Barron's

That's because for many Indian exporters, especially small companies, the burden of paperwork, audit risks and a lack of understanding of FTA provisions often outweigh tariff benefits.

From BBC

The initiative would also require an audit every four years for any tax increase passed by voters or the Legislature after Jan. 1 of this year.

From The Wall Street Journal

The U.K.’s audit regulator is considering changing its accounting rules in order to encourage Chinese companies to list in London.

From The Wall Street Journal

Related Words

• analysis
• check
• examination
• investigation
• review
• scrutiny
• survey
• verification