auditor


Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms, Encyclopedia, Wikipedia.
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 ?
Past research has indicated that auditors have substantial concerns about IT auditor competence in practice, and sometimes question the value IT auditors bring to the audit engagement (Bagranoff and Vendrzyk 2000; James E.
The initial fee discount can be thought of as an investment that the auditor makes in anticipation of future fees.
The auditor general, as the official solely responsible for internal audit within DoN, reports to the secretary and under secretary of the Navy.
To properly maintain the watchdog function of the internal auditor, he or she should not receive significant incentives based on profitability.
The standard defines an experienced auditor as one who "possesses competencies and skills that would have enabled him or her to perform the audit.
SAS 104 replaces the above with "while exercising due professional care, the auditor must plan and perform the audit to obtain sufficient appropriate evidence so that audit risk will be limited to a low level.
SACRAMENTO - The Los Angeles Department of Water and Power failed to follow the city's competitive bidding rules in awarding some contracts and does not maintain adequate controls over employee purchases with agency credit cards, state auditors said in a report Wednesday.
It is unlawful for an auditor to provide these services to an audit client.
The SEC's prohibition of auditor indemnification for public companies is unequivocal in its Accounting Series Release "Indemnification by Client":
For nearly as long as there have been public accountants, state and federal legislators have also grappled with laws to protect auditor independence.
For example, when one auditor demanded to personally view an ongoing carpet restoration job, Minkow simply picked one of the nicest office buildings in town, bribed the landlord to act as if Minkow belonged on the premises, and led the auditor through a series of offices in various stages of refurbishment.
Discusses how internal auditors may provide direct assistance to the external auditor.