audit

¹au·dit

noun \ˈȯ-dət\

Definition of AUDIT

1

a : a formal examination of an organization's or individual's accounts or financial situation b : the final report of an audit

2

: a methodical examination and review

Examples of AUDIT

1. The audit showed that the company had mislead investors.
2. The Internal Revenue Service selected us for an audit.
3. You will need all your records if you are selected for audit by the IRS.

Origin of AUDIT

Middle English, from Latin auditus act of hearing, from audire

First Known Use: 15th century

Related to AUDIT

Synonyms: inspection, check, checkup, examination, going-over, look-see, review, scan, scrutiny, survey, view

Related Words: analysis, assay, close-up, deconstruction, dissection; exploration, investigation, probe, research, study; inquisition, interrogation; once-over, perusal; recheck, reinspection, resurvey; observation, surveillance, watch; checkout, test-drive, trial run

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Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

Rhymes with AUDIT

plaudit