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audit |
Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.04 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. |
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| Now and then Philip with one of the more experienced clerks went out to audit the accounts of some firm: he came to know which of the clients must be treated with respect and which were in low water. One advantage of the Secret Service is that it has no worrying audit. Qui verbum meum audit, et credit ei qui misit me, habet vitam oeternam et in judicium non venit; sed transit a morte im vitam |
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audit
