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1

audit

play
noun au·dit \ˈȯ-dət\

Simple Definition of audit

  • : a complete and careful examination of the financial records of a business or person

  • : a careful check or review of something

Full Definition of audit

  1. 1 a :  a formal examination of an organization's or individual's accounts or financial situation b :  the final report of an audit

  2. 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

Rhymes with audit


2

audit

verb au·dit

Simple Definition of audit

  • : to check the financial records of (a business or person) : to perform an audit on (a business or person)

  • : to attend a course at a college or university without having to do any of the course work and without receiving credit

Full Definition of audit

  1. transitive verb
  2. 1 :  to perform an audit of or for <audit the books> <audit the company>

  3. 2 :  to attend (a course) without working for or expecting to receive formal credit

au·dit·abil·i·typlay \ˌȯ-də-tə-ˈbi-lə-tē\ noun
au·dit·able play \-ˌȯ-di-tə-bəl\ adjective
au·dit·ee play \ˌȯ-də-ˈtē\ noun

Examples of audit

  1. They audit the company books every year.

  2. The Internal Revenue Service audited him twice in 10 years.

  3. I audited an English literature class last semester.



15th Century

First Known Use of audit

15th century



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