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audit
(redirected from Auditability)

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia, Hutchinson 0.02 sec.

audit

Examination of the records and reports of an enterprise by accounting specialists other than those responsible for their preparation. Public auditing by independent accountants is common in large firms. The auditor performs tests to determine whether the firm's statements were prepared in accordance with acceptable accounting principles and that they fairly present its financial position and operating results. Personal tax audits are carried out to determine whether people have accurately reported their financial circumstances when filing their taxes. Failing such an audit may result in a fine, or, in cases of extensive and deliberate deception, criminal prosecution. See also Internal Revenue Service.


audit

An examination of systems, programming and datacenter procedures in order to determine the efficiency of computer operations.



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Speed is key--world class organizations can close their books two to three days after month-end, though most take far longer--but control, reliability and auditability of the process have taken on far more importance.
Our place on the SD TIMES 100 underscores the proven value of our industry-leading database engine for performance and embeddability, coupled with a powerful suite of data management products for data synchronization and auditability," said David Sikora, president and CEO of Pervasive Software.
Pearson has served on numerous Institute committees concerned with university and continuing professional education; the Uniform CPA Examination; and auditing and quality control, including the auditing standards board and its task forces on sampling, confirmations, auditability and completeness and levels of assurance.
 
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