Audits
/ˈɔːdɪts/
Definitions
2 meaningsA systematic and independent examination of financial records to assess accuracy and compliance.
/ˈɔːdɪts/
A formal examination of financial records.
The external auditors completed the annual audit.
💡 Simply: Checking accounts to make sure they are correct.
More Examples
The internal audit department found irregularities in the expense reports.
How It's Used
"The company underwent a thorough financial audit."
"The government initiated an audit of the department's spending."
To carry out a formal examination of financial records.
/ˈɔːdɪts/
To conduct an audit.
The accountant will audit the company's books.
💡 Simply: To check accounts carefully.
More Examples
They are auditing the project's expenditures.
How It's Used
"We need to audit the accounts before the year-end."
From Latin 'audire' (to hear), referring to the process of formally examining accounts.
Historically, the term 'audit' was associated with listening to accounts being read aloud.
Memory tip
Think 'AUDI' (listen carefully) to 'T' (check thoroughly)
Word Origin
"to hear"