audit
AW-dit
/ˈɔːdɪt/
An official inspection of an individual's or organization's accounts, typically by an independent body.
An audit is usually more formal and thorough than a simple 'check' or 'review'.
The story behind the word. In the Middle Ages, most people were illiterate, so financial accounts were read aloud to an official. The official would 'hear' the accounts to verify them, which is why the word comes from the Latin 'audire' (to hear).
Word relationships
- scrutiny: Scrutiny is a general term for close observation, while an audit is a specific, structured process of verification.
- neglect: Neglect is the failure to care for or inspect something properly.
Commonly confused with
- inspection: An inspection is usually of a physical object; an audit is usually of a process or financial records.
Word family
- auditor (noun): A person who conducts an audit.
- auditing (noun): The field or practice of conducting audits.
Collocations
- internal audit
- external audit
- tax audit
- audit trail
Idioms & expressions
- clean audit
Example sentences
- "The firm underwent a rigorous financial audit to ensure transparency." Finance
- "Students may choose to audit a course if they wish to learn the material without receiving a grade." Education
Memory hook
An 'audit' is when they want to 'hear' (audio) the truth about your money. The hearing of the facts.
When not to use
Don't use 'audit' for a quick, informal look at something; it implies a systematic and rigorous process.
Fun facts
- The first recorded audits date back to ancient Egypt and Mesopotamia.
- You can 'audit' a class in college, which means you listen to the lectures but don't take the exams.
Related words
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