From Longman Dictionary of Contemporary Englishauditau‧dit1 /ˈɔːdɪt $ ˈɒː-/ noun [countable, uncountable] 1 an official examination of a company’s financial records in order to check that they are correct the annual auditinternal audit (=an audit carried out by a company’s own staff)2 formal a detailed examination of something in order to check if it is good enough Start with an audit of existing services within the community.
Examples from the Corpusaudit• Administrative audits involve chefs, cooks, bakers, and other kitchen personnel.• In addition to the statutory requirements, the form and content of an audit report is governed by requirements laid down in auditing standards.• An audit of unplanned pregnancies seen in one practice also emphasised the need for great care in counselling people using the pill.• This brings the number of companies and audit firms down to 2,076 and 164 respectively.• Increasingly we are subject to medical audit.• This is not to say that a three E's audit is never undertaken in nationalized industries.• But the audit rate for poor taxpayers earning under $ 25,000 rose in 1995, to 1. 04 percent.• Our independent non-executive directors have a particularly valuable role especially in relation to audit and remuneration matters.internal audit• Many senior corporation executives have a background in accounting, internal auditing, or finance.• This is known as an internal audit.• Four major fields of accounting are public, management, and government accounting, and internal auditing.• Most employers also prefer applicants who are familiar with computers and their applications in accounting and internal auditing.• The Guidance concentrates on the organizational status of internal audit and the objectivity of internal auditors in achieving the requisite independence.• In this respect it could feature as an aspect of the internal audit of a company.• 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.auditaudit2 verb [transitive] 1 BFto officially examine a company’s financial records in order to check that they are correct2 American EnglishSEC to attend a course at university without intending to take examinations in it or get a credit for it→ See Verb table
Examples from the Corpusaudit• The Labor Department audited 10,631 job orders that were related to H-1B applications.• The C. and A. G. is given the responsibility for auditing all appropriation accounts by the 1921 Act.• The fund is audited annually by an accountant.• So he does his own audit before the company audits him.• Process and outcome criteria are standards against which to audit standards of practice.From Longman Business Dictionaryauditau‧dit1 /ˈɔːdətˈɒː-/ noun [countable]1ACCOUNTING an official examination of a person’s or organization’s accounts by an expert, to check that they are true and honestAn audit of the company showed accumulated losses of £1.5 billion.The accounts will need to have an independent audit before they can be submitted.We carry out a full internal audit once a year.2HUMAN RESOURCESCOMMERCEan examination of an organization’s activities or performanceThe prison population has risen by 2,500 in the last six months, according to a government audit.She wants the oil company to agree to an external audit of its environmental policies. → green audit → social auditauditaudit2 verb [transitive]1ACCOUNTING to officially check that an individual’s or organization’s accounts are true and honestTo taxpayers who’ve been audited, the Internal Revenue Service is a frightening organization.2COMMERCEECONOMICSto check a particular part of an organization’s activities or performanceWhen the cars it builds in Canada were audited, they were accepted as having the 50% North American content required under trade rules.→ See Verb tableOrigin audit (1400-1500) Latin past participle of audire; → AUDIO