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Audit vs Asset - What's the difference?

audit | asset |

As nouns the difference between audit and asset

is that audit is an audience; a hearing while asset is .

As a verb audit

is to examine and adjust (eg an account).

audit

English

(wikipedia audit)

Noun

(en noun)
  • An audience; a hearing.
  • * Milton
    • He appeals to a high audit .
  • An examination in general.
  • A judicial examination.
  • An independent review and examination of records and activities to assess the adequacy of system controls, to ensure compliance with established policies and operational procedures, and to recommend necessary changes in controls, policies, or procedures
    • National Assembly audit
  • The result of such an examination, or an account as adjusted by auditors; final account.
  • * Shakespeare
    • Yet I can make my audit up.
  • (Scientology) Spiritual counseling, which forms the core of Dianetics.
  • *
  • *
  • (obsolete) A general receptacle or receiver.
  • * Jeremy Taylor
    • It [a little brook] paid to its common audit no more than the revenues of a little cloud.

    Derived terms

    * audit ale * audit house * audit room

    Verb

    (en verb)
  • To examine and adjust (e.g. an account).
    • to audit the accounts of a treasure, or of parties who have a suit depending in court
  • (finance, business) To conduct an independent review and examination of system records and activities in order to test the adequacy and effectiveness of data security and data integrity procedures, to ensure compliance with established policy and operational procedures, and to recommend any necessary changes
  • (Scientology) To counsel spiritually.
  • * 2011 , Diane Saks, Overcoming Celebrity Obsession (page 225)
    • In John's case, I suspect, when he lost Diana he went back to his Scientology church to be audited .
  • To attend an academic class on a not-for-academic-credit basis.

    • asset

    English

    (wikipedia asset)

    Noun

    (en noun)
  • Something or someone of any value; any portion of one's property or effects so considered.
    • These shares are a valuable asset .
  • (software) Any component, model, process or framework of value that can be leveraged or reused.
  • (espionage) intelligence asset

    • Antonyms

    * liability

    Derived terms

    () * capital asset * current asset * fixed asset * tangible asset * intangible asset * physical asset * financial asset * asset class * intelligence asset

    Related terms

    () * ownership equity

    Anagrams

    * * * * * * (l) ----