Financial Auditing Terms

noun An official inspection of an individual's or organization's accounts, typically by an independent body

verb To conduct an official financial examination of an individual's or organization's accounts

• The company conducted a thorough audit of its financial records.
• I heard the company is getting audited next week.
• We better make sure our books are clean before the audit.
• She decided to audit her life and make some changes for the better.

noun a person who formally examines and verifies financial accounts

• The auditor thoroughly reviewed the company's financial statements for accuracy.
• The auditor is coming in next week to check our books.
• I heard the auditor is going to be snooping around the office soon.
• She acted as an auditor of her own life, carefully examining her choices and actions.

noun a thorough search for hidden items or illegal activities

verb to search thoroughly or to extort money from someone

• The police conducted a thorough shake down of the suspect's belongings.
• I heard the security guards are planning a shake down of the lockers tomorrow.
• The gang members tried to shake down the shop owner for protection money.
• The unexpected news shook down the entire community.