What does "audit" mean?

1. (financial inspection) an official examination of the accounts or records of a business. 2. (to check accounts) to officially examine financial records to make sure they are correct. 3. (to attend a class without credit) to sit in on a university course to learn, but without taking exams or getting a grade.

How do you use "audit"?

Often used with the verbs 'conduct', 'carry out', or 'undergo'. This is a transitive verb that always takes a direct object.

audit

n. · v.

US //ˈɔdɪt// UK //ˈɔːdɪt// au·dit

1 financial inspection (n.)
B2 Upper Intermediate Formal Law

an official examination of the accounts or records of a business.

an independent examination of financial records and internal controls to ensure accuracy and compliance with regulations.

Example

The company had to provide all its receipts for the annual tax audit.

Example

The internal audit revealed several discrepancies in the procurement department, leading to a complete overhaul of their reporting procedures.

Usage

Often used with the verbs 'conduct', 'carry out', or 'undergo'.
2 to check accounts (v.)
B2 Upper Intermediate Formal Law

to officially examine financial records to make sure they are correct.

to conduct a formal financial or operational review of an organisation.

Example

The government decided to audit the charity after some money went missing.

Example

External specialists were brought in to audit the bank's risk management systems following the market crash.

Usage

This is a transitive verb that always takes a direct object.

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3 to attend a class without credit (v.)
C1 Advanced American English

to sit in on a university course to learn, but without taking exams or getting a grade.

to attend an academic course as a listener without the intention of obtaining formal credit or a grade.

Example

I decided to audit the history class because I was interested in the topic but too busy for extra homework.

Example

Although she was a physics major, she chose to audit a series of lectures on Renaissance art to broaden her cultural horizons.

Teacher's tip

This usage is very common in North American universities but less frequent in other English-speaking regions.
- sit in on
- observe
- enroll

Origin

Borrowed from Latin audītus, from audiō (“I hear”). Sense of “examine” was because examinations were originally presented orally, and the examiner listened.