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audit |
Also found in: Medical, Legal, Financial, Wikipedia, Hutchinson | 0.07 sec. |
auditExamination 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. An examination of systems, programming and datacenter procedures in order to determine the efficiency of computer operations. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The standards emphasize the critical role of government audits in achieving credibility and accountability in government, with an increased focus on the ethical principles underlying the work of those who audit government programs and activities. She has since reformed the business tax, works on Government Audits and Efficiency, is President ProTem of the City Council, and has just taken over as chair of the Transportation Committee, where she plans to work to solve the gridlock problems of our city. The GAO establishes the Corporate Audits Division to oversee government audits and names CPA T. |
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