Definition of audit

The word "audit" has its origins in Latin. In the 13th century, the verb "audire" meant "to hear" or "to listen." From this verb, the Latin noun "auditor" emerged, meaning "he who hears" or "a listener." In the 15th century, the term "audito" was borrowed into Middle English, referring to the act of hearing or examining something carefully, such as an account or a statement. In the 17th century, the term "audit" began to be used in the context of financial accounting, meaning the examination and verification of financial records and transactions. This sense of the word has since evolved to encompass a broader range of meanings, including the evaluation and assessment of various systems, processes, and activities. Despite its Latin roots, the modern meaning of "audit" is now deeply rooted in the context of business, finance, and governance.