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audit
Longman Dictionary of Contemporary English
audit
I.noun
COLLOCATIONS FROM OTHER ENTRIES
audit trail
▪ The lack of a physical audit trail in electronic commerce increases the possibilities for tax avoidance.
green audit
social audit
▪ a social audit of Ben & Jerry’s Ice Cream
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
annual
▪ The annual audit, due in April, would have uncovered the swindle.
▪ All local authority auditors are expected to review aspects of value for money as part of their annual audit programme.
environmental
▪ Caird is sending shareholders an external environmental audit which it commissioned from consultants Mott MacDonald.
▪ We will encourage environmental audits for companies, showing the environmental impact of their activities.
▪ A suitable compromise is for completion to be conditional on the results of an environmental audit.
▪ Shindler will carry out an environmental compliance audit, to establish how well a company is complying with existing legislation.
▪ Enviroscope specialises in scoping environmental impact assessments and environmental audits and assisting companies with environmental communications and policy.
▪ These are landlord's consent, survey and environmental audit.
▪ As a consultant specialising in environmental impact assessments and environmental audits I feel that this criticism is rather unfair.
▪ Business will be encouraged to have environmental audits.
external
▪ Caird is sending shareholders an external environmental audit which it commissioned from consultants Mott MacDonald.
▪ This is known as an external audit.
▪ A thinly-veiled threat of an academic Government inspectorate resulted in more open, external audit of performance in teaching and research.
▪ He resigned as chairman after an external audit criticised the way Lauda Air handled foreign currency transactions.
▪ For external audits identify some one within your firm who can act as a contact point and be present throughout the audit.
financial
▪ Indeed, the definition of a financial audit explicitly includes examination of systems of internal control whereas the commercial audit does not.
▪ Traditionally, governmental audit has been concerned with the financial and regularity audit.
full
▪ This makes a change from the 1989/90 accounts which contained a full page of audit qualifications.
▪ The firm provides a full range of audit, accounting, taxation and consulting services.
▪ For auditors, 1992 will no doubt be remembered, at least inpart, for the first full year of audit regulation.
independent
▪ Almost as many thought that an independent audit committee should be legally required.
▪ At that meeting on July 10, the board was stunned by an independent audit of four years of crime statistics.
▪ One is the role of the independent audit.
▪ The best reasons are the objectivity and credibility of an independent audit.
internal
▪ The internal audit function reports to the Audit Committee.
▪ The banks have conducted two internal audits and come up with about $ 30 million in dormant accounts.
▪ In this respect it could feature as an aspect of the internal audit of a company.
▪ It recently showed poor results on two internal safety audits.
▪ The Guidance concentrates on the organizational status of internal audit and the objectivity of internal auditors in achieving the requisite independence.
▪ These periodic internal audits can be a source of revitalization and renewal.
▪ This is known as an internal audit.
▪ The allegations were confirmed in an internal university audit dated May 1996, according to a Wall Street Journal story last year.
medical
▪ The project is working to identify all the terms required for recording medical records and for other uses, such as medical audit.
▪ Primary care contracts will be monitored by the purchasing authority and could include medical audit and reaccreditation in the future.
▪ Doctors should insist on suitable procedures for medical audit as a precondition for collaboration.
▪ This would enable a tough general manager to ensure that medical audit did not become simply a talk shop or token activity.
▪ However medical audit should be seen as part of a total approach to quality even if in reality it is often separated out.
▪ The second is the development of medical audit, which encourages practitioners critically to examine current practice.
▪ Increasingly we are subject to medical audit.
statutory
▪ The statutory audit of the Health Authorities is now under the Audit Commission's responsibilities.
▪ Before the 1983 Act, it had been suggested that these statutory audits were supplemented by economy, efficiency and effectiveness audits.
▪ This view of the statutory audit has other important consequences.
▪ And, in practice, the external auditor will take account of this in carrying out the statutory audit.
■ NOUN
client
▪ It is interesting to note that there are 94 firms with only one listed audit client.
▪ She says she has not lost a single client and has already won several new audit clients.
▪ Deloitte has an impressive list of audit clients although its management consultancy practice is only half the size of Coopers.
committee
▪ Radical action Many companies already identify audit committee members in the annual reports.
▪ Mr Marinkovich assumes his seat on the Board effective immediately, and will serve as chairman of the audit committee.
▪ A small audit committee was elected and the appointments of Vial as Professor and Huntingford as secretary were formally confirmed.
▪ Almost as many thought that an independent audit committee should be legally required.
▪ The precise authority and structure of an audit committee will vary depending on the company's circumstances.
▪ Nevertheless, there are a number of attributes that, in my view, are essential for a truly effective audit committee.
▪ The audit committee should be formally established as a sub-committee accountable to the board, and the board should appoint its members.
company
▪ But it also has long supported the idea that the small company audit should go.
▪ Meanwhile, a company audit confirmed his original suspicions.
▪ The working party have taken the view that the small company audit is unnecessary and have virtually accused us of being parasites.
▪ Opinion against retaining the small company audit has hardened.
▪ Relaxation of the small company audit requirement has been Institute policy since the debate resumed in 1985.
fee
▪ From this perspective, 1993 looks likely to be another year of substantial audit fee cuts.
▪ Grace paid Price Waterhouse $ 7. 2 million in consulting and audit fees last year.
▪ Or consider the meeting to agree the audit fee, when the auditor can hardly wait to get his point across.
▪ Price Waterhouse, it seems, was not just investing in the Prudential by dropping the audit fee by 14%.
▪ None of the companies was reluctant to talk: cutting the audit fee is a popular subject.
▪ Indeed, 29 of the companies paid unchanged audit fees.
firm
▪ An additional 115 audit firms active in this market were identified.
▪ Lawyers are extorting money from audit firms on the principle that auditors are economically rational and settlements are cheaper than defences.
▪ This combined number of fewer than 300 audit firms represents less than 3% of the total number registered.
▪ There is a high cost in time and money for audit firms in competing in a change in auditors.
▪ This brings the number of companies and audit firms down to 2,076 and 164 respectively.
partner
▪ The profession should draw up guidelines on rotating audit partners. 1.
▪ A better solution may well be to pick up the idea of rotating the audit partner every five to 10 years.
▪ In fact, the longest continuing presence is often the audit partner.
procedure
▪ The system's audit procedure also allows identification and control of problem areas in the design and communication process.
▪ But the new regime has encouraged many firms to review their audit procedures and make changes and improvements where necessary.
process
▪ Hence the audit process was entirely medically controlled, participation was voluntary, standards set locally and the results kept absolutely confidential.
quality
▪ The Celomer factory in Gonfreville has been approved by Deutsche Airbus after top executives carried out a quality audit.
regulation
▪ Take audit regulation as an example.
▪ We are determined to make a success of audit regulation.
▪ Smaller practitioners are fed up to the back teeth with all forms of regulation, and audit regulation in particular.
▪ Of course, it is not just audit regulation that has been under scrutiny in 1992.
▪ For auditors, 1992 will no doubt be remembered, at least inpart, for the first full year of audit regulation.
▪ It is clear that firms are taking the regulatory regime seriously; nearly all have taken steps to comply with audit regulations.
report
▪ Historically there has been too much reliance on ex post financial accountability in the form of audit reports and adhoc investigations.
▪ The audit report was also critical of the amount of funds allocated to staff support of citizen participation activities.
▪ In addition to the statutory requirements, the form and content of an audit report is governed by requirements laid down in auditing standards.
▪ The audit report has not been completed and under state law is confidential until then.
▪ The different categories of audit report are seed in Table 3.1.
▪ A qualified audit report, as opposed to an unqualified report, should leave the reader in no doubt as to its meaning and implications.
▪ Criticism of the audit report proposals is less severe, but still material.
▪ If I ever had to qualify an audit report, I'd run it past Claire first.
trail
▪ It will include hierarchical cell and audit trail services and provide provisional Open Systems Interconnection specifications.
▪ What audit trail provisions are available for access or changes to the text?
▪ The creation of an inventory and an audit trail addresses various problems, both of theory and practice.
▪ Each sub-system of the model was given a decimal code so that an audit trail could be established for the subsequent detailed analysis.
▪ X435 contains information such as interchange control numbers and Electronic Data Interchange document content types - helping improve security and audit trail capabilities.
work
▪ Key messages include the need to plan audits adequately, to record audit work performed and to maintain adequate quality assurance procedures.
▪ As might be expected from the above, the most extensive changes to be made were in procedures for recording audit work.
■ VERB
carry
▪ Some companies use environmental consultants to carry out their audits, while others use in-house staff.
▪ The manager prompts the subordinate to carry out a personal audit.
▪ Several schools mentioned that they were presently involved in carrying out an audit of health education to monitor provision and delivery.
▪ Choose one of the history units and carry out a detailed audit of the possibilities for cross-curricular links.
▪ You can not carry out half an audit.
▪ And, in practice, the external auditor will take account of this in carrying out the statutory audit.
conduct
▪ The banks have conducted two internal audits and come up with about $ 30 million in dormant accounts.
▪ This does not mean that they conduct their audits negligently or sacrifice their independence by condoning accounting treatments that are demonstrably wrong.
▪ To conduct a successful crime audit you will need to: Assign clear responsibility and provide appropriate resources.
▪ Sebastian Clarke arrived to conduct the audit himself.
include
▪ It will include hierarchical cell and audit trail services and provide provisional Open Systems Interconnection specifications.
▪ Primary care contracts will be monitored by the purchasing authority and could include medical audit and reaccreditation in the future.
▪ Other oversight bodies would include Select Committees and audit agencies.
▪ Issues considered include conducting supplier audits and launching greener products.
perform
▪ They used voluntary organizations to operate recycling programs, to perform energy audits, and even to manage a park.
provide
▪ Some market research companies specialize in providing audits of the trends in sales of particular product types across all manufacturers.
▪ Good software will provide facilities for automatic audit trails to be kept.
undertake
▪ We have undertaken the type of audit Coulter and colleagues suggest, using a small cohort of patients from Northwick Park Hospital.
EXAMPLES FROM CORPUS
▪ Administrative audits involve chefs, cooks, bakers, and other kitchen personnel.
▪ An audit of unplanned pregnancies seen in one practice also emphasised the need for great care in counselling people using the pill.
▪ But the audit rate for poor taxpayers earning under $ 25, 000 rose in 1995, to 1. 04 percent.
▪ In addition to the statutory requirements, the form and content of an audit report is governed by requirements laid down in auditing standards.
▪ Increasingly we are subject to medical audit.
▪ Our independent non-executive directors have a particularly valuable role especially in relation to audit and remuneration matters.
▪ This brings the number of companies and audit firms down to 2,076 and 164 respectively.
▪ This is not to say that a three E's audit is never undertaken in nationalized industries.
II.verb
COLLOCATIONS FROM CORPUS
■ NOUN
account
▪ Accountants Marks Bloom had audited the accounts and had issued an unqualified opinion on them.
▪ Further uniformity was assured by a single system for auditing the numerous accounts rendered each year by the different financial agencies.
▪ In so far as this summary financial statement summarises the information in the annual accounts, those accounts have been audited.
▪ In 1284 Edward I appointed him to a commission sent to Ireland to audit accounts there.
company
▪ The sole practitioners audited three companies with a full listing, and one company quoted on the Unlisted Securities Market.
▪ Our study identified 167 firms auditing this population of companies in 1992.
▪ Moores Rowland, which audited 28 companies, was the best buy.
statement
▪ For instance, Work Recovery has yet to file its audited financial statements for the fiscal year ended June 30, 1995.
EXAMPLES FROM OTHER ENTRIES
▪ The fund is audited annually by an accountant.
EXAMPLES FROM CORPUS
▪ Process and outcome criteria are standards against which to audit standards of practice.
▪ So he does his own audit before the company audits him.
▪ The C. and A. G. is given the responsibility for auditing all appropriation accounts by the 1921 Act.
▪ The Labor Department audited 10, 631 job orders that were related to H-1B applications.
The Collaborative International Dictionary
Audit

Audit \Au"dit\, n. [L. auditus a hearing, fr. audire. See Audible, a.]

  1. An audience; a hearing. [Obs.]

    He appeals to a high audit.
    --Milton.

  2. An examination in general; a judicial examination.

    Note: Specifically: An examination of an account or of accounts, with the hearing of the parties concerned, by proper officers, or persons appointed for that purpose, who compare the charges with the vouchers, examine witnesses, and state the result.

  3. The result of such an examination, or an account as adjusted by auditors; final account.

    Yet I can make my audit up.
    --Shak.

  4. A general receptacle or receiver. [Obs.]

    It [a little brook] paid to its common audit no more than the revenues of a little cloud.
    --Jer. Taylor.

    Audit ale, a kind of ale, brewed at the English universities, orig. for the day of audit.

    Audit house, Audit room, an appendage to a cathedral, for the transaction of its business.

Audit

Audit \Au"dit\, v. i. To settle or adjust an account.

Let Hocus audit; he knows how the money was disbursed.
--Arbuthnot. [1913 Webster] ||

Audit

Audit \Au"dit\, v. t. [imp. & p. p. Audited; p. pr. & vb. n. Auditing.] To examine and adjust, as an account or accounts; as, to audit the accounts of a treasure, or of parties who have a suit depending in court.

Related phrases:
Douglas Harper's Etymology Dictionary
audit

early 15c., from Latin auditus "a hearing," past participle of audire "hear" (see audience). Official examination of accounts, which originally was an oral procedure.

audit

mid-15c., from audit (n.). Related: Audited; auditing.

Wiktionary
audit

n. 1 An audience; a hearing. 2 An examination in general. 3 A judicial examination. 4 An independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures 5 The result of such an examination, or an account as adjusted by auditors; final account. 6 (context Scientology English) Spiritual counseling, which forms the core of Dianetics. 7 (context obsolete English) A general receptacle or receiver. vb. 1 To examine and adjust (e.g. an account). 2 (context finance business English) To conduct an independent review and examination of system records and activities in order to test the adequacy and effectiveness of data security and data integrity procedures, to ensure compliance with established policy and operational procedures, and to recommend any necessary changes 3 (context Scientology English) To counsel spiritually. 4 To attend an academic class on a not-for-academic-credit basis.

Related phrases:
WordNet
audit

  1. n. an inspection of the accounting procedures and records by a trained accountant or CPA [syn: audited account]

  2. a methodical examination or review of a condition or situation; "he made an audit of all the plants on his property"; "an energy efficiency audit"; "an email log audit"

audit

  1. v. of accounts and tax returns; with the intent to verify [syn: scrutinize, scrutinise, inspect]

  2. attend academic courses without getting credit

Related phrases:
Wikipedia
Audit (telecommunication)

In telecommunications, an audit is one of:

  • The act of conducting a review, examination and reconciliation of Telecom, Wireless and Network customer service records, invoicing and contract agreements in order to ensure the accuracy of budgetary forecasting.
  • Independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures.
  • Analysis of invoices, lines, rates, tariffs, taxes, plans, usage, call volume, systems, and contracts resulting in cost reduction, proper invoicing and optimization of telecommunication systems often conducted by an independent telecommunications consultant or firm.

The simplest audits consist of comparing current telecommunications billing and usage to the underlying rate structure whether that is dictated by contract, tariff, or price list. Complex audits utilize software applications, direct bargaining with service providers and activity reports that include detail down to an individual employee's usage.

Audit

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics started identifying an "Audit Society". The auditor perceives and recognises the propositions before him/her for examination, obtains evidence, evaluates the same and formulates an opinion on the basis of his judgement which is communicated through his audit report.

Any subject matter may be audited. Audits provide third party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other areas which are commonly audited include: secretarial & compliance audit, internal controls, quality management, project management, water management, and energy conservation.

As a result of an audit, stakeholders may effectively evaluate and improve the effectiveness of risk management, control, and the governance process over the subject matter.

The word audit is derived from a Latin word "audire" which means "to hear". During the medieval times when manual book-keeping was prevalent, auditors in Britain used to hear the accounts read out for them and checked that the organisation's personnel were not negligent or fraudulent.

Audit (disambiguation)

Audit may refer to:

  • Audit - an evaluation of an organization, system, process, project or product, in particular:
    • Conformity assessment audit (ISO, HACCP, JCAHCO)
    • Environmental audit
    • Energy audit
    • External Audit
    • Financial audit - the examination by an independent third party of the financial statements of a company or other organization
    • Clinical audit - the process formally introduced in 1993 into the United Kingdom's National Health Service
    • Internal audit
    • Management system audit ( quality audit, safety audit, environmental audit)
    • Performance audit - an examination of a program, function, operation or the management systems and procedures of a governmental or non-profit entity
    • Quality audit - a systematic, independent examination of a quality system
    • Security audit (not computer-related)
    • Helpdesk and incident reporting auditing
    • Academic audit - the completion of a course of study for which no assessment is completed or grade awarded
  • AUDIT - Alcohol Use Disorders Identification Test
  • in computer science
    • Audit (telecommunication) - multiple meanings
    • audit trail
    • Information technology security audit - a process that can verify that certain standards have been met
    • Configuration audit (as part of configuration management)
    • Information technology audit - an examination of the controls within an entity's Information technology infrastructure
    • Software audit (disambiguation) - multiple meanings

Auditing may refer to:

  • Auditing - the act of conducting an audit
  • Auditing (Scientology) - a procedure in Scientology

Auditor may refer to:

  • Saint Auditor, Christian martyr of the 4th century
  • Auditor Security Collection, a Linux distribution which was merged into BackTrack
  • The head of a Student Society, especially in Ireland
  • The fictional Auditors of Reality from the Discworld series
Related phrases:

Usage examples of "audit".

President, but for the White House to order the audit squashed would be so highly unusual as to call undue attention to my cover operation.

After the endless months of paperwork of audit trails and expenditure profiles, of asset calculations and restraint preparations it had come to this: the sordid little drama played out across dozens of cities, hundreds of estates, thousands of similar patches of urban wasteland.

Hard disks brimming with audit trails and details of company structures.

Referenced and cross-referenced, each of these audit trails dealt with a particular asset a car, a property, a bank account, a business -proving to any jury that real ownership, behind a thousand financial transactions and a small army of relatives, friends, and professional advisers, still lay with Mackenzie.

He knew the mathematical formulas the service used to target institutions for auditing and every year carefully made out his returns, underreporting legitimate deductions and not taking others so that no red flags triggered the random-audit process.

My position here is more like that of the CPA who is engaged to audit the books than that of Stanley Doble who is hired to maintain the building and grounds.

July 31st, we held our audit, I and the fellows for the two yeres last past in my absence, Olyver Carter, Thomas Williamson, and Robert Birch, Charles Legh the elder being receyver.

The commissioners also halted the financial audit, ended the political payola investigationand gave the contract back to GTech.

La Crampade on a good pension, having found a place as referendary for Armand in the Audit Department.

That the Accompts of the Receipts and Expenditure of the Society shall be audited annually by three Auditors, to be elected at the General Meetings, and that the Report of the Auditors, with an Abstract of the Accompts, shall be published.

Jordan Mintz, general counsel Lea Fastow, assistant treasurer Michael Jakubik, vice president JimTimmins, director, private equity Tim Despain, vice president Bill Brown, vice president The Internal Accountants Richard Causey, chief accounting officer David Woytek, vice president, corporate auditing Rodney Faldyn, vice president, transaction accounting group Ryan Siurek, member, transaction accounting group In Risk Assessment Richard Buy, chief risk officer Vasant Shanbhogue, analyst Vince Kaminski, vice president of Rakesh Bharati, analyst research Kevin Kindall, analyst Stinson Gibner, analyst In Corporate Development J.

The predictions are to be audited and the man with the best record automatically becomes Prime Predictor regardless of his political beliefs or his alliances.

Indeed, he specified that audits of the Archives must take place and that the best predictor must be elevated to Prime Predictor.

Does the audit that determines the new Prime Predictor come before or after the death of the old Prime Predictor?

After years of auditing his own department, he could read the chart of a resuscitation and run it like a movie in his head.