auditor

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Auditor

1. A person who reviews activities to identify inefficiencies, reduce costs, and otherwise achieve organizational objectives. Auditors may investigate potential theft or fraud and ensure compliance with applicable regulations and policies. They also help ensure the accuracy of reports. Audits are an essential part of a company's efficiency. See also: Internal auditor, External auditor.

2. In taxation, an employee of the tax collection agency who reviews the reports of an individual or company to see if all income, deductions, and/or credits reported accurately reflect reality. This is done to ensure that each individual or company pays his/her/its full tax liability. Audits are conducted on a random basis, or when something appears remiss on a tax return. See also: Tax avoidance, Tax evasion.

auditor

A person who examines an organization's financial records and reports. If the person is an employee of the organization being audited, he or she is known as an internal auditor. If the auditor is not an employee of the organization, he or she is called an external auditor.

auditor

a professional accountant appointed to check the accuracy of a JOINT-STOCK COMPANY'S LEDGER accounts and ANNUAL REPORT AND ACCOUNTS, and to present an independent report to SHAREHOLDERS on whether the accounts present a true and fair view of the company's affairs.
References in periodicals archive ?
Oates and Goelzer recognize, auditors have long provided non-audit tax services relating to appraisals, valuations, and actuarial services.
What NAMIC emphasized to the state regulators is that the Securities and Exchange Commission prohibits such indemnification of the independent auditor by the client.
Therefore, it is difficult for outsiders, including examiners, to judge the objectivity of external auditors toward their clients.
During their 1989 annual audit, independent auditors retained by a national food products distributor in New York believed they had uncovered a fraudulent scheme perpetrated by two vice presidents who managed the seafood division.
Allows the external auditors to place increased reliance on work performed by internal auditors.
Arning joined New York Life in 1978 as an assistant auditor and held positions of increasing responsibility leading to his election as vice president and associate general auditor in 1996.
Although "other sufficient documentation"--such as client-prepared summaries--may suffice, some auditors insist that clients turn over privileged documents.
Before fieldwork begins, company management and the external auditors must discuss the thresholds and reach consensus on the significant accounts and disclosures--and they absolutely must agree on how best to quantify more than remote and more than inconsequential.
The committee believes that these recommendations will help restore confidence in published financial statements, the financial reporting process and the work of independent auditors.
Statement on Auditing Standards (SAS) 108 suggests that in complex IT settings auditors should consider assigning one or more computer assurance specialists (i.
POST-SOX CHANGE Auditors are willing to offer initial fee discounts in order to gain access to expected future audit fees, non-audit services, and acquired efficiencies that reduce the cost of performing future audits.
Independent and impartial auditors don't have to wrestle with these conflicts.