detailed checking of the financial records of a business by an independent qualified person ( auditor) in order to verify their correctness or to detect errors or fraud. Glossary of Business Terms
An examination of a company's accounting records and books conducted by an outside professional in order to determine whether the company is maintaining records according to Generally Accepted Accounting Principles. Bloomberg Financial Dictionary
See: accountant's opinion. Bloomberg Financial Dictionary

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I. audit au‧dit 1 [ˈɔːdt ǁ ˈɒː-] noun [countable]
1. ACCOUNTING an official examination of a person's or organization's accounts by an expert, to check that they are true and honest:

• An audit of the company showed accumulated losses of £1.5 billion.

• The accounts will need to have an independent audit before they can be submitted.

• We carry out a full internal audit once a year.

conˌtinuous ˈaudit ACCOUNTING
an audit where a company's financial records are checked for mistakes etc through the whole year, rather than just once a year
exˌternal ˈaudit ACCOUNTING
an audit done by an expert from outside a company or organization that is being audited
2. HUMAN RESOURCES COMMERCE an examination of an organization's activities or performance:

• The prison population has risen by 2,500 in the last six months, according to a government audit.

• She wants the oil company to agree to an external audit of its environmental policies.

ˌgreen ˈaudit ECONOMICS
an official examination of the effects of a company's activities on the environment
ˌsocial ˈaudit also ˌethical ˈaudit HUMAN RESOURCES
an official examination of how well a company behaves, for example how it treats its employees, the environment etc:

• The social audit of Ben and Jerry's in general commends the company, which gives 7.5% of pre-tax profits to charity.

  [m0] II. audit audit 2 verb [transitive]
1. ACCOUNTING to officially check that an individual's or organization's accounts are true and honest:

• To taxpayers who've been audited, the Internal Revenue Service is a frightening organization.

2. COMMERCE ECONOMICS to check a particular part of an organization's activities or performance:

• When the cars it builds in Canada were audited, they were accepted as having the 50% North American content required under trade rules.

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   An official examination of a company's accounts.

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audit UK US /ˈɔːdɪt/ noun [C or U]
ACCOUNTING an examination of the accounts of a business, usually by experts from outside the business: »

A full audit is performed each year by a district auditor.


We conducted an audit of the accounts for the year 2009/10.


Companies must issue a statutory audit report.

an audit committee/firm/team »

Members of the audit committee must be independent.

an official examination of the quality or condition of something: complete/conduct/do/undertake an audit »

We conduct an annual audit to ensure that we comply with standards.

a performance/quality/skills audit »

Departments must carry out an internal quality audit.


Managers should undertake an audit of staff performance.


an independent audit of needs and facilities


The whole process is subject to audit and inspection.

See also BRAND AUDIT(Cf. brand audit), CONTINUOUS AUDIT(Cf. ↑continuous audit), CULTURAL AUDIT(Cf. ↑cultural audit), DESIGN AUDIT(Cf. ↑design audit), ENERGY AUDIT(Cf. ↑energy audit), ENVIRONMENTAL AUDIT(Cf. ↑environmental audit), EXTERNAL AUDIT(Cf. ↑external audit), FINANCIAL AUDIT(Cf. ↑financial audit), GREEN AUDIT(Cf. ↑green audit), INFORMATION AUDIT(Cf. ↑information audit), INTERNAL AUDIT(Cf. ↑internal audit), IT AUDIT(Cf. ↑IT audit), MANAGEMENT AUDIT(Cf. ↑management audit), MARKET AUDIT(Cf. ↑market audit), NON-AUDIT(Cf. ↑non-audit), PERFORMANCE AUDIT(Cf. ↑performance audit), POSITION AUDIT(Cf. ↑position audit), SOCIAL AUDIT(Cf. ↑social audit), TAX AUDIT(Cf. ↑tax audit)
audit UK US /ˈɔːdɪt/ verb [T]
ACCOUNTING to make an official examination of the accounts of a business and produce a report: »

The accounts are audited annually.

have sth audited »

They had the books audited by a qualified accountant.

to make an official examination of the quality or condition of something: »

Our operations are regularly audited.

be independently/externally audited »

Our quality system is independently audited by an approved certification body.

Financial and business terms. 2012.

(as accounts, to ascertain whether they are correct or not) / /

Look at other dictionaries:

  • Audit — systematic, independent, documented process for obtaining records, statements of fact or other relevant information and assessing them objectively to determine the extent to which specified requirements are fulfilled (p. 4.4 ISO/IEC 17000:2004).… …   Словарь-справочник терминов нормативно-технической документации

  • AUDIT — Au XIXe siècle, on entendait par «audition de compte» l’action d’examiner un compte, et l’auditeur (auditor ), étymologiquement, est celui qui est «aux écoutes», c’est à dire celui qui observe, examine très attentivement. L’audit est un travail… …   Encyclopédie Universelle

  • audit — au·dit / ȯ dət/ n 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… …   Law dictionary

  • Audit — Au dit, n. [L. auditus a hearing, fr. audire. See {Audible}, a.] 1. An audience; a hearing. [Obs.] [1913 Webster] He appeals to a high audit. Milton. [1913 Webster] 2. An examination in general; a judicial examination. [1913 Webster] Note:… …   The Collaborative International Dictionary of English

  • audit — AUDÍT s.n. Control al evidenţelor contabile, al situaţiei financiare a unei societăţi. ♦ Dare de seamă care reflectă rezultatul unui asemenea control. (cf. engl. audit, din lat. auditus = auzire, din audire = a auzi) [Cuvinte străine (recent… …   Dicționar Român

  • audit — ► NOUN ▪ an official inspection of an organization s accounts. ► VERB (audited, auditing) ▪ make an audit of. ORIGIN from Latin audire hear (because an audit was originally presented orally) …   English terms dictionary

  • 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. [1913 Webster] …   The Collaborative International Dictionary of English

  • Audit — Au dit, v. i. To settle or adjust an account. [1913 Webster] Let Hocus audit; he knows how the money was disbursed. Arbuthnot. [1913 Webster] || …   The Collaborative International Dictionary of English

  • audit — /ˈaudit, ingl. ˈɔːdɪt/ [lett. «verifica, revisione», dal lat. audītu(m) «sentito, ascoltato»] s. m. inv. (org. az.) verifica, controllo, ispezione …   Sinonimi e Contrari. Terza edizione

  • audit — n examination, inspection, scrutiny, scanning (see under SCRUTINIZE) Analogous words: check, *corrective, control: investigation, probe, *inquiry audit vb examine, inspect, *scrutinize, scan …   New Dictionary of Synonyms

  • audit — verb. British readers of American books and newspapers might be puzzled by the use of audit to mean ‘to attend (a class) informally’ without working for a particular qualification: • She audited his undergraduate lectures; she waylaid him in the… …   Modern English usage

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