Definition, Meaning & Anagrams | English word AUDIT

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Definitions of AUDIT

1. A judicial examination.
2. An examination in general.
3. 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
4. The result of such an examination, or an account as adjusted by auditors; final account.
5. To examine and adjust (e.g. an account).
6. To attend an academic class without the opportunity to receive academic credit.
7. (Scientology) Spiritual counseling, which forms the core of Dianetics.
8. (obsolete) A general receptacle or receiver.
9. (obsolete) An audience; a hearing.
10. (finance, business) 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
11. (Scientology) To counsel spiritually.

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Examples of Using AUDIT in a Sentence

• An audit trail (also called audit log) is a security-relevant chronological record, set of records, and/or destination and source of records that provide documentary evidence of the sequence of activities that have affected at any time a specific operation, procedure, event, or device.
• For example, ESPON considers Oviedo–Gijón–Avilés as a single FUA, while Urban Audit has separate LUZs for Oviedo and Gijón.
• Making the source code comprehensible – the source code should be readable and understandable so it is approved in a code audit.
• This was also augmented by an audit that indicated that this equipment should be accounted for in an inventory.
• The requirements of ISO 14001 are an integral part of the European Union's Eco-Management and Audit Scheme (EMAS).
• As with bearer bonds, anonymous unregistered share ownership and dividend collection enabled money laundering, tax evasion, and concealed business transactions in general, so governments passed laws to audit the practice.
• He has also served on the Boards of Bank of Ireland, Ericsson, Merck, Prudential Corporation and chaired Audit, Remuneration and Governance Committees.
• Unable to sustain the heavy debt load resulting from ill-advised expansion moves, costly management errors and audit fees associated with the bankruptcy process, the company negotiated debt for equity swaps with its creditors and zeroed the value of its common shares, wiping out existing investors.
• ● Commitment, transparency, and accountability including its overall commitment to women’s empowerment and whether it has undertaken a gender audit from a recognized entity.
• Louis, who commandeered his services to audit the financial records of his immediate predecessor, Maj.
• Furthermore, according to the methodology for cities conducted by the Organisation for Economic Co-operation and Development (OECD), five areas, including Tirana, Durrës, Elbasan, Shkodër and Vlorë, can be classified as urban audit cities.
• The purpose of an audit is to provide an objective independent examination of the financial statements, which increases the value and credibility of the financial statements produced by management, thus increase user confidence in the financial statement, reduce investor risk and consequently reduce the cost of capital of the preparer of the financial statements.
• In many countries, circulations are audited by independent bodies such as the Audit Bureau of Circulations to assure advertisers that a given newspaper does reach the number of people claimed by the publisher.
• But by the time it was admitted into the Audit Bureau of Circulations in 1976, its circulation had already reached a readership of 48,000.
• Assertions (auditing), the set of information that the statement preparer is providing in a financial statement audit.
• The fencing historian Aylward claims that he was alive in 1622, when he was visited (a kind of audit of people claiming noble or gentlemanly status) by Cooke, Clarenceux King-of-Arms.
• When a business conducts a brand audit, the goal is to uncover the business's resource strengths, deficiencies, best market opportunities, outside threats, future profitability, and its competitive standing in comparison to existing competitors.
• The term Exchequer then came to refer to the twice-yearly meetings held at Easter and Michaelmas, at which government financial business was transacted and an audit held of sheriffs' returns.
• Abdullah Abdullah, played an instrumental role in shaping the parameters of June 2014 runoff's recount and audit.
• Thibault worked for many years at the Defense Contract Audit Agency (DCAA), serving as deputy director from 1994 to 2005.
• Revision control - complete audit trail, also for meta data such as attachments and access control settings.
• The ouster of Rogers came after an audit revealed that the agency had a stack of accounts receivable, the oldest of them 12 years old; a bank loan that the Georgia legislature never approved; and had misplaced $1 million in equipment.
• The liquidators claimed that Ting had stolen over US$800m from the company with the assistance of accountants Ernst & Young who had tampered with audit documents going back to 1994.
• Simultaneously, with the issue of the order for the commencement of insolvency proceedings, the Insolvency Commissioner shall appoint a trustee for the debtor and an audit will be carried out, in which the debtor’s economic capability and his conduct will be examined (lasting approximately 12 months).
• In 2010 Sir Thomas Legg conducted an independent audit of MPs expenses in which he determined that Caplin should repay £17,865 representing mortgage interest payments claimed on his second home, after Caplin failed to provide paperwork to establish his entitlement to claim the money.

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