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
Thin layer or slate of baked clay, linoleum, or some other material that is used for covering floors, roofs, or as an ornament in a building. ...
House that can be bought at a low price because it is in poor condition. A buyer who is handy may find it attractive because he can personally make the needed repairs without hiring others. ...
Borrower's right to cancel, within three business days, a creditor contract in which his or her residence is used as collateral. This right does not apply to first mortgage loans. ...
Index of the costs to construct residential properties. ...
Medium price for a new second home. Medium is the middle value between the lowest and highest figures. ...
Through the homestead exemption definition, we understand the legal instrument that provides physical and financial shelter in dire situations. The homestead exemption legal provision can ...
The after-acquired title is used in property law when a property seller acquires the property’s title once they already sold the property to the buyer. In this situation, the title is ...
To enter illegally. For example, entering property without permission. ...
Pump installed in the sump of a building to pump out and drain any water or liquids that have accumulated. ...
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