Definition

1. Noun:

   • A formal, systematic examination and verification of financial accounts and records: An official inspection of an organization's accounts, typically by an independent body, to ensure accuracy and compliance with regulations.
   • A methodical review or assessment of a process, system, or area: A detailed examination of any operation or condition to evaluate its performance, efficiency, or compliance with standards.

2. Verb:

   • To conduct an official examination of (accounts): To inspect and verify financial records formally.
   • To attend (a college course) without receiving credit or a formal grade: To sit in on academic classes as a listener, not for official academic credit.
   • To examine or assess (something) methodically: To review a process, system, or area in a detailed and systematic way.

Usage Examples

• Noun:

  • The company undergoes an annual financial audit.
  • The internal audit revealed several areas for improvement in our safety procedures.

• Verb:

  • An independent firm will audit the charity's accounts next month.
  • She decided to audit the philosophy class because she was interested in the topic.
  • We need to audit our data security protocols regularly.

Advanced Usage

• "to be subject to audit": To be required or liable to undergo an official examination.
  • All government departments are subject to audit.
• "audit trail": A secure, chronological record that provides documentary evidence of the sequence of activities that have affected a specific operation, procedure, or event. (Note: This is a compound term listed separately).
  • The software maintains a detailed audit trail of all user actions.

Variants and Related Words

• Auditor (n): A person who conducts an audit.
  • The auditor spent a week reviewing the company's books.
• Auditing (n): The process or profession of conducting audits.
  • She has a degree in accounting and auditing.

Synonyms

• Noun: Inspection, examination, review, scrutiny, check.
• Verb: Inspect, examine, scrutinize, review, verify.

Related Phrases (Phrasal Verbs)

• Audit out (less common): To remove or exclude something after an audit.
  • The discrepancy was audited out of the final report.

Related Idioms

• A clean audit: An audit that finds no significant problems or irregularities.
  • The board was pleased to receive a clean audit for the third year in a row.

Noun

1. 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
2. an inspection of the accounting procedures and records by a trained accountant or CPA

Verb

1. attend academic courses without getting credit
2. examine carefully for accuracy with the intent of verification
   • audit accounts and tax returns