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
Enhancement of a property's value even though the improvement is not on it. Lighting in the street would be an example. ...
Through real estate properties, many individuals of varying degrees of expertise find ways to make money. The real estate industry allows these practices as real estate properties are ...
Among other things. Inter alia is an ancient method of referring to statutes without reciting all of their provisions. ...
See effective tax rate. ...
A landowner may not divert or redirect a natural occurring waterway from his or her property causing damages to another property. Waterway is normally construed to mean streams and rivers ...
Location Analysis is the appraisal of a general geographic area for a particular use. A Residential Real Estate Market professional (or consumer) rarely deals with a Location Analysis ...
The amount of money a developer must directly invest in order to obtain a development loan. It pays for the initial development cost including costs for items such as architectural plans, ...
Person's sole ownership of real property. ...
Insurance contract providing coverage for risks primarily associated with negligence and acts of omission associated with third-party injuries or property losses. Property and casualty ...
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