audit

An official independent check of financial records, or the report produced by that check.

• The company needs an annual audit.
• The audit found missing financial records.
• We received the completed audit yesterday.

How to use it: audit of something (An audit of the accounts revealed several errors.)

Similar words: financial review

Common phrases: annual audit, financial audit, independent audit

A careful check of something to find out its condition or quality.

• An energy audit could help cut your bills.
• The team completed a skills audit.
• Our audit of classroom resources showed a shortage of books.

How to use it: audit of something (We carried out an audit of the school's equipment.)

Similar words: review, assessment, examination

Common phrases: energy audit, skills audit, resource audit

An independent check that an organization's records and activities meet its rules and required standards.

• The security audit identified several risks.
• An independent audit checked whether staff followed the rules.
• The audit found that internal controls were inadequate.

How to use it: audit of something (The audit of security procedures found weak access controls.)

Similar words: compliance review

Common phrases: security audit, compliance audit, systems audit

To independently check financial records and make sure they are correct.

• An outside accountant will audit our accounts.
• The charity's books are audited every year.
• Who audited the company's financial records?

Similar words: examine, check

Common phrases: audit the accounts, audit a company, audit financial records