auditor


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.
Related to auditor: internal auditor

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 ?
While audit managers are typically sensitive to competence deficiencies in their audit staff and can compensate by employing additional procedures themselves, auditors' ability to effectively respond to IT auditor competence deficiencies may be determined by their own AIS expertise level.
However, unlike some pre-SOX studies, the results of my study suggest that the market's reaction to switching auditors is insignificant unless the predecessor auditor resigns.
Organizational independence does mean that if decisions are made that the Naval Audit Service considers to be inappropriate or unfair, the auditor general can challenge them with the secretary and under secretary of the Navy--and has done so successfully on occasion.
and WorldCom relied primarily--if not exclusively--on information provided to them by members of the management team over which they were required to exercise oversight, as well as on information provided to them by the outside auditor.
But in many others, the extent of remaining work auditors may have to perform will cause the auditor to use a date after the fieldwork completion date.
102 describes "must" as an "unconditional requirement," meaning the auditor is required to comply with it in all cases in which the circumstances exist to which the unconditional requirement applies.
The auditors reviewed 12 contracts approved by the DWP and determined that two were improperly authorized.
The text of the Sarbanes-Oxley Act once contained a provision that would have required the SEC to adopt rules "substantially similar" to its proposed 2000 auditor independence rule, which was more restrictive than the rule that the SEC eventually adopted after the notice and comment period.
The SEC's rationale for prohibiting auditor indemnification in the public company context seems to have much less to do with the presence or absence of shareholders than with what may functionally compromise the auditor's independence.
We hope that accounting professionals also benefit from the interaction between the external auditor and the examiner.
The severity of this failure forever influenced the accounting profession and the way in which auditors conduct financial reviews.
The internal auditors' work can aid the external auditor in understanding the design of the control structure.