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au·dit /'ȯ-dət/ n1: 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 examination2: a methodical examination and reviewaudit vb
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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I
verb
bring into question, certify, check, check on, conduct an inquiry, examine, examine financial accounts, examine the accounts officially, go through the books, hold an inquiry, inspect, inspect accounts officially, investigate, monitor, probe, pursue an inquiry, rationes dispungere, reexamine, research, review, scrutinize, search, study, subject to examination
associated concepts: allowance of claim, audit of account, audited claims, auditor, auditor's report, disallowance of claim, fraudulent audit
II
index
analysis, analyze, bill (invoice), canvass, check (inspect), computation, examination (study), examine (study), indagation, monitor, scrutinize, study, test
Burton's Legal Thesaurus. William C. Burton. 2006
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n.A systematic review of an organization’s or an individual’s accounts.v.audit
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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An examination of the financial records of a person, business, or organization, typically done to correct careless or improper bookkeeping or to verify that proper records are being kept. Businesses and nonprofits often undergo an annual audit by an independent accounting firm. The IRS also conducts audits, mainly to assess taxes owed.Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: NonprofitsCategory: Personal Finance & Retirement → Taxes → Tax Audits
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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USAAn unbiased examination and evaluation of the financial statements of an organization. It can be done internally (by employees of the organization) or externally (by an outside firm of auditors).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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n. A formal inspection of the accounting procedures and records and the financial situation of an individual, business, organization, or government entity to verify the accuracy and completeness of the records or their compliance with another set of standards.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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A systematic examination of financial or accounting records by a specialized inspector, called an auditor, to verify their accuracy and truthfulness. A hearing during which financial data are investigated for purposes of authentication.
Dictionary from West's Encyclopedia of American Law. 2005.
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A systematic examination of financial or accounting records by a specialized inspector, called an auditor, to verify their accuracy and truthfulness. A hearing during which financial data are investigated for purposes of authentication.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
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n.an examination by a trained accountant of the financial records of a business or governmental entity, including noting improper or careless practices, recommendations for improvements, and a balancing of the books. An audit performed by employees is called "internal audit," and one done by an independent (outside) accountant is an "independent audit." Even an independent audit may be limited in that the financial information is given to the auditor without an examination of all supporting documents. Auditors will note that the audit was based on such limited information and will refuse to sign the audit as a guarantee of the accuracy of the information provided.See also: auditor
Law dictionary. EdwART. 2013.