Definition of "Audit"
Examination of the financial records of a business to uncover errors and other irregularities. Involves looking at source documents to determine the legitimacy of transactions. An evaluation of internal control is also made. A unit of the business, such as a division or department, may also be investigated to determine if there is adherence to the company's procedures and operations and to corporate policy. A compliance audit determines whether the company is complying with specified rules and regulations.
Popular Real Estate Terms
Appraisal approach where property values are estimated by comparing current comparable sales. See also market approach. ...
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Taking back property when the borrower defaults on the loan. ...
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A court order issued to a defendant in an action either prohibiting or commanding the performance of a defined act. A violation of an injunction could lead to a contempt of court citation. ...
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An estate constrained from some heirs and dedicated to others on the basis of a certain condition. ...
Among other things. Inter alia is an ancient method of referring to statutes without reciting all of their provisions. ...
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