audit
noun [ C or U ]
uk/ˈɔːdɪt/ us ACCOUNTING
an examination of the accounts of a business, usually by experts from outside the business:
A full audit is performed each year by a district auditor.
We conducted an audit of the accounts for the year 2009/10.
Companies must issue a statutory audit report.
an audit committee/firm/team Members of the audit committee must be independent.
an official examination of the quality or condition of something:
complete/conduct/do/undertake an audit We conduct an annual audit to ensure that we comply with standards.
a performance/quality/skills audit Departments must carry out an internal quality audit.
Managers should undertake an audit of staff performance.
an independent audit of needs and facilities
The whole process is subject to audit and inspection.
See also
brand audit
continuous audit
cultural audit
design audit
energy audit
environmental audit
external audit
financial audit
green audit
information audit
internal audit
IT audit
management audit
market audit
non-audit
performance audit
position audit
social audit
tax audit
audit
verb [ T ]
uk/ˈɔːdɪt/ us ACCOUNTING
to make an official examination of the accounts of a business and produce a report:
The accounts are audited annually.
have sth audited They had the books audited by a qualified accountant.
to make an official examination of the quality or condition of something:
Our operations are regularly audited.
be independently/externally audited Our quality system is independently audited by an approved certification body.