For Audit we have terms and definitions in 18 topics. The topics are Accounting, Anti Piracy, Business, Commercial Real Estate, Economics, Finance, Fundraising, Grantmaking, Interactive Marketing, Marketing, Newspaper, Non-Profit Accountability, Non-Profit Governance, Non-Profit Leadership, Sanitation, Security Testing, Tax and Teacher Evaluation.

Audit (Accounting)

is the inspection of the accounting records and procedures of a businessgovernment unitor other reporting entity by a trained accountant for the purpose of verifying the accuracy and completeness of the records. It could be conducted by a member of the organization (internal audit) or by an outsider (independent audit). A CPA audit determines the overall validity of financial statements. A tax audit (IRS in the U.S.) determines whether the appropriate tax was paid. An internal audit generally determines whether the company’s procedures are followed and whether embezzlement or other illegal activity occurred.

Audit (Anti Piracy)

Conducted by an independent accounting firm, an audit verifies shipment and sales levels for each audio and music video format after returns. In addition, the audit calculates what product has been shipped for sale, net after returns, versus product used for promotional purposes. A formal certification report is issued and sent to the record company.

Audit (Business)

An examination of accounting documents and of supporting evidence for the purpose of reaching an informed opinion concerning their propriety.

Audit (Commercial Real Estate)

The inspection of records to assure accuracy.

Audit (Economics)

A third-pary professional review of an organization's financial statements as to accuracy and honesty.

Audit (Finance)

An examination of a company's accounting records and books conducted by an outside professional in order to determine whether the company is maintaining records according to generally accepted accounting principles. See: aAcountant's opinion.

Audit (Fundraising)

An independent examination of the accounting records and other evidence relating to a business operation to support the expression of an impartial expert opinion about the reliability of the financial statements. See also:Auditor

Audit (Grantmaking)

An independent examination of the accounting records and other evidence relating to a business operation to support the expression of an impartial expert opinion about the reliability of the financial statements. See also:Auditor

Audit (Interactive Marketing)

Third party validation of log activity and/or measurement process associated with Internet activity/advertising. Activity audits validate measurement counts. Process audits validate internal controls associated with measurement.

Audit (Marketing)

The examination and verification of the sale of a product. A method for measuring sales in a store by counting beginning inventory, adding new shipments, and subtracting ending inventory. Also used to determine inventory lost to theft.

Audit (Newspaper)

In media research terms normally means an (independent) assessment as to the technical validity of a specified survey.

Audit (Non-Profit Accountability)

An independent examination of the accounting records and other evidence relating to a business operation to support the expression of an impartial expert opinion about the reliability of the financial statements. See also:Auditor

Audit (Non-Profit Governance)

An independent examination of the accounting records and other evidence relating to a business operation to support the expression of an impartial expert opinion about the reliability of the financial statements. See also:Auditor

Audit (Non-Profit Leadership)

An independent examination of the accounting records and other evidence relating to a business operation to support the expression of an impartial expert opinion about the reliability of the financial statements. See also:Auditor

Audit (Sanitation)

A methodical examination of utilization of resources. It concludes in a written report of its findings. An audit is a test of management's accounting system to determine the extent to which internal accounting controls are both available and being used.

Audit (Security Testing)

(missing definition)

Audit (Tax)

The procedure of examining and verification of income tax returns and other transactions, by the IRS, usually resulting in tax consequences.

Audit (Teacher Evaluation)

An independent quality check and verification of the assessment and evaluation of a teacher. See Monitoring, Quality Check, Verification.

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