annual audit

annual audit — yearly examination of a company s financial records by an external accountant …   English contemporary dictionary

audit — au·dit / ȯ dət/ n 1: a formal examination of an organization s or an individual s financial records often for the purpose of uncovering fraud or inaccurate tax returns; also: the final report of such an examination 2: a methodical examination… …   Law dictionary

Audit storm — (Chinese: 审计风暴) was a phrase that Chinese media coined to describe the auditing campaigns initiated by the National Audit Office of China. [ [http://www.chinadaily.com.cn/english/doc/2005 01/05/content 406025.htm Audit storm sweeps away graft] ,… …   Wikipedia

annual — an‧nu‧al [ˈænjuəl] adjective 1. annual events happen once a year: • Shareholders can vote at the annual meeting. • an annual audit see also semi annual 2. ACCOUNTING calculated over a period of a year …   Financial and business terms

audit — detailed checking of the financial records of a business by an independent qualified person ( auditor) in order to verify their correctness or to detect errors or fraud. Glossary of Business Terms An examination of a company s accounting records… …   Financial and business terms

audit — au|dit1 [ˈo:dıt US ˈo: ] n [U and C] 1.) an official examination of a company s financial records in order to check that they are correct ▪ the annual audit internal audit (=an audit carried out by a company s own staff) 2.) formal a detailed… …   Dictionary of contemporary English

audit — / ɔ:dɪt/ noun 1. the examination of the books and accounts of a company ● to carry out the annual audit 2. a detailed examination of something in order to assess it ● A thorough job audit was needed for job evaluation. ● A manpower audit showed… …   Dictionary of banking and finance

audit — verb (T) 1 to officially examine a company s financial records in order to check that they are correct 2 AmE to attend a university course without having to take any examinations audit noun (C): the annual audit …   Longman dictionary of contemporary English

audit — / ɔ:dɪt/ noun the examination of the books and accounts of a company ● to carry out the annual audit …   Marketing dictionary in english

audit committee — n: a corporate committee made up of usu. outside directors who review audits and evaluations of the corporation and its officers Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. audit committee …   Law dictionary

annual accounts — annual report; = report and accounts The financial statements of an organization, generally published annually. In the UK, incorporated bodies have a legal obligation to publish annual accounts and file them at Companies House. Annual accounts… …   Accounting dictionary