Legal Definition and Related Resources of Audit

An examination and full scrutiny of accounts. The act of so examining and scrutineering accounts implies an informed endeavour to weigh and judge the truth and correctness of the accounts. The act of inspecting and examining implies an informed endeavour to weigh and judge the truth and correctness of the accounts; verification . See May v Wilcox Furniture, 450 S. W.2d 734.

To examine, adjust, settle, etc., an account, and then allow it. 3 Denio (N. Y.) 381; B Daly (N. Y.) 200; 24 Hun (N. Y.) 419.

verb

• bring into question
• certify
• check
• check on
• conduct an inquiry
• examine
• examine financial accounts
• examine the accounts officially
• go through the books
• hold an inquiry
• inspect
• inspect accounts officially
• investigate
• monitor
• probe
• pursue an inquiry
• rationes dis pungere
• reexamine
• research
• review
• scrutinize
• search
• study
• subject to examination
• Associated Concepts: allowance of claim
• audit of account
• audited claims
• auditor
• auditor’s report
• disallowance of claim
• fraudulent audit

Browse or run a search for Audit in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Audit in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Audit in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Audit in the Legal Abbreviations and Acronyms Dictionary.

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Mentioned in these terms

Comptroller, Reference.

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Audit in the Dictionary	Audit in our legal dictionaries
Browse the Legal Thesaurus	Find synonyms and related words of Audit
Legal Maxims	Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
Legal Answers (Q&A)	A community-driven knowledge creation process, of enduring value to a broad audience
Related topics	Audit in the World Encyclopedia of Law

Notice

This definition of Audit is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)

Resource	Description
Topic Map	A group of names, occurrences and associations
Topic Tree	A topic display format, showing the hierarchy
Sitemap Index	Sitemap Index, including Taxonomies
https://legaldictionary.lawin.org/audit/	The URI of Audit (more about URIs)

Audit in the Dictionary of Law consisting of Judicial Definitions and Explanations of Words, Phrases and Maxims

Literally, he hears; a hearing. See Audire (above).

Note: This legal definition of Audit in the Dictionary of Law (English and American Jurisprudence) is from 1893.

Audit Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Audit in a way that is easy for anybody to understand: A professional examination of a company’s financial statement by a professional accountant or group to determine that the statement has been presented fairly and prepared using GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP).

United States Tax Concept of Audit

An audit, in reference to U.S. federal income taxes, is an IRS examination of your tax return. It is generally limited to a three-year period after you file by the statute of limitations.

As most commonly used in legal settings, an audit is an examination of financial records and documents and other evidence by a trained accountant.

As most commonly used in legal settings, an audit is an examination of financial records and documents and other evidence by a trained accountant.

What is the meaning of Audit?

A definition of Audit is provided here: An audit involves an independent review and examination of records or financial accounts to check their accuracy. Audits are also used to ensure compliance with established policy and operational procedures, and to recommend any necessary changes.

Meaning of Audit

Resources

See Also

Generally Accepted Auditing Standards

Audit

See Also

• Governance
• Accountability
• Contracting Out
• Corporate
  Governance
• Public Administration
• Transparency

Further Reading

• Allen, R., & Tommasi, D. (Eds.). (1999). Managing public
  expenditure: A reference book for transition countries.
  Paris: Organisation for Economic Co-operation and
  Development.
  Gray, A., Jenkins, B., & Segsworth, B. (Eds.). (1993).
  Budgeting, auditing and evaluation: Functions and
  integration in seven governments. New Brunswick, NJ:
  Transaction.
  Havens, H. (1999). Management controls, audit and
  evaluation. In S. Schiavo-Campo & D. Tommasi (Eds.),
  Managing government expenditure (Chapter 9).
  Manila, Philippines: Asian Development Bank.
  Mikesell, J. (1999). Fiscal administration: Analysis and
  applications for the public sector (5th ed.). Fort Worth,
  TX: Harcourt, Brace.
  Organisation for Economic Co-operation and Development
  (OECD). (2002). Models of public budgeting and
  accounting reform. OECD Journal on Budgeting,
  2(Supplement 1). Paris: Author.
  Sinclair, S. (1979). Cordial but not cosy: A history of the
  office of the auditor-general. Toronto, Canada:
  McClelland and Stewart.
  Wanna, J., Ryan, C., & Ng, C. (2001). From accounting to
  accountability: A centenary history of the Australian
  National Audit Office. Sydney, Australia: Allen and
  Unwin.
• Audit in the Encyclopedia of Governance, Mark Bevir – University of California, Berkeley, USA, 2007, SAGE Publications

Hierarchical Display of Audit

Business And Competition > Management > Management
Business And Competition > Management > Management techniques > Management audit
Business And Competition > Accounting > Management accounting > Auditing

Meaning of Audit

Overview and more information about Audit

For a more comprehensive understanding of Audit, see in the general part of the online platform.[rtbs name=”xxx-xxx”]

Resources

Translation of Audit

• Spanish: Auditoría
• French: Audit
• German: Rechnungsprüfung
• Italian: Verifica ispettiva
• Portuguese: Auditoria
• Polish: Audyt

Thesaurus of Audit

Business And Competition > Management > Management > Audit
Business And Competition > Management > Management techniques > Management audit > Audit
Business And Competition > Accounting > Management accounting > Auditing > Audit

See also

• Management audit
• Auditing