auditor


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Related to auditor: internal auditor

auditor

n. an accountant who conducts an audit to verify the accuracy of the financial records and accounting practices of a business or government. A proper audit will point out deficiencies in accounting and other financial operations. Many counties have an appointed or elected Auditor to make independent audits of all governmental agencies in the county government. The term "auditor" is often misused as meaning any accountant. (See: audit)

See: comptroller, disciple

auditor

an accountant who verifies the books of a company, stating whether they give a true and fair view of the company's position. Every company is required to appoint at each general meeting at which accounts are laid an auditor or auditors to hold office from the conclusion of the meeting until the conclusion of the next such general meeting. Except in the case of a continuation of an appointment of auditors whose appointment was approved at the previous general meeting held to consider the accounts, special notice is required of a resolution concerning the appointment of auditors. To be eligible for appointment as a company auditor, a person, either an individual or a firm, must be a member of a recognized supervisory body and eligible for appointment under the rules of that body. Dormant companies and smaller companies may decide not to be audited.

AUDITOR. An officer whose duty is to examine the accounts of officers who have received and disbursed public moneys by lawful authority. See Acts of Congress, April 3, 1817; 3 Story's Laws U. S. 1630; and the Act of February 24, 1819, 3 Story's L. U. S. 1722.

References in periodicals archive ?
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.
2's concept of "reasonable assurance" by stating its use of that phrase in the audit report means a "high" level of assurance was intended to be obtained by the auditor.
The auditors did not look into the other major controversy facing the the department - whether public-relations firm Fleishman-Hillard Inc.
Although the SEC's final rule on auditor independence generally prohibits auditors from providing these services to their audit clients, the rule specifically excepts certain appraisals, valuations, and actuarial services that are performed in the tax context.
Knowing misrepresentation by reckless or dishonest management may simply be far from cut and dried and may pose major questions as to what the auditor should have tested and reasonably detected.
of the public's confidence regarding auditor independence could have severe consequences for investors, creditors, and those seeking capital.
Historically, auditors mainly have reviewed financial statements to form an opinion concerning the accuracy of a company's represented financial position.
For each of a company's business activities, BT Audit guides auditors in making initial assessments of inherent risks and control risks.
Discusses how internal auditors may provide direct assistance to the external auditor.