audit

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audit

[′ȯd·ət]
(computer science)
The operations developed to corroborate the evidence as regards authenticity and validity of the data that are introduced into the data-processing problem or system.

audit

a process in which the performance of organizations is monitored by independent agencies. Compared with direct observation and control of behaviour (see SURVEILLANCE), audit usually does its work by an examination of the records of the processes and/or outcomes of organizational activity Audits are a prominent part of what has been termed the ‘new governance’ in contemporary advanced societies. As well as the more familiar financial audits of business organizations, there are today organizational audits of hospitals, schools and universities as well as environmental audits. See also AUDIT SOCIETY.

Audit

 

a check of the business and financial activity of enterprises, organizations, institutions, or individual officials for a certain period of time; one of the forms of subsequent review.

In the USSR all state and cooperative enterprises are audited. The audit is generally conducted once a year; organizations that do not directly conduct business operations must be audited at least once every two years. When necessary an audit may be made at any time (surprise audit). Audits are included in the functions of agencies of state control and intradepartmental control agencies. They were instituted by the Apr. 15, 1936, decree of the Soviet of Peoples’ Commissars of the USSR entitled Intradepartmental Financial Control and Auditing of Institutions, Enterprises, Economic Organizations, and Construction Projects.

The purposes and general procedure of the audit are regulated by governmental resolutions and departmental instructions. The primary purposes of the audit are to check fulfillment of state plans; check the legality of economic transactions and compliance with financial and estimate discipline; monitor the security of socialist property; check the correctness of bookkeeping records and the quality of documentary records underlying bookkeeping entries; and check the correctness of materials accounting in storage business. Auditing helps uncover abuses, unused reserves, and losses owing to unproductive use of time and identifies positive experience in the work of the organizations being audited, thus promoting stronger business accountability and economy measures.

audit

(1) A formal examination by certified auditors of systems, programming, operations and security to determine compliance with internal policies and procedures or with external standards. An audit is often used to satisfy legal requirements of regulatory agencies and laws. See assessment, COBIT, COSO, ISO 27000, SAS 70 and SSAE 16.

(2) An examination of systems, programming and datacenter procedures in order to determine the efficiency of computer operations.
References in periodicals archive ?
The reauditor must obtain evidence of opening balances for the financial statements being audited as well as how consistently the company applied accounting principles.
The DIF formulas used to determine which returns should be audited are updated using information received from the TCMP.
Since management reports are typically included in companies' annual reports, which contain audited financial statements, the auditor is required to read them.
104-44 and/or a historical lack of DOL enforcement efforts may explain why welfare plans that should be audited have not been audited in the past.
The auditee also has several, more extensive reporting requirements, many of which must be audited.
The IRS selection process for choosing tax returns to be audited has changed in the last several years from one based largely on statistical scoring to a more selective and specialized process.
If the plan is later audited by the IRS, the administrators need only show their documentation of the error and its correction.
A not-for-profit organization since 1931, BPA International are media auditing experts -- the preferred global provider of audited data for the marketing and media/information industries.
By the time I get the auditors' December 31 audited statements, I am ready to start my February statements.
Audit Central will be a collaborative Web site designed to provide visitors the ability to access verified, census-based traffic numbers from all of the Web's audited sites that publicize their audit reports.
For example, in detailed testing using sampling, an auditor should have an independent expectation of an account balance formed from selecting a sample of transactions affecting the balance; validating the selected sample items using independent information about their accuracy, existence, valuation and so on; and inferring a population balance using the audited amount derived from the sample.
Based on the information presented to the audit committee to date, SCB anticipates that it will restate its audited financial statements for fiscal 1998 and 1999 and its unaudited financial statements for the first three quarters of fiscal 2000.