Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Audit
n. A formal examination of an individual's or organization's accounting records, financial situation, or compliance with some other set of standards. - audit, ub. - auditor, n. See generally accepted auditing standards
Audit letter
a client's written request for its attorney to give its financial auditors information about matters such as pending or threatened litigation. (the attorney usu. Sends the response (called an audit response) directly to the financial auditors. See audit response. Audit-letter response. See audit response.
Audit of return
see tax audit under audit,
Audit of return.
See tax audit.
Audit opinion
see opinion (2).
Audit report
an outside auditor's written statement, usu. Accompanying a company's financial statement, expressing the auditor's opinion of the accuracy of the company's financial condition as set forth in the financial statement.
Audit response
a letter that an attorney provides to a client's financial auditors, usu. At the client's request, regarding matters such as pending or threatened litigation. ( audit responses should comply with the american bar association's statement of policy regarding lawyer's responses to auditors' requests for information, published in december 1975. -also termed audit-letter response. See audit letter.
Audit trail
the chain of evidence connecting account balances to original transactions and calculations.
Audita querela
[law latin "the complaint having been heard"] a writ available to a judgment debtor who seeks a rehearing of a matter on grounds of newly discovered evidence or newly existing legal defenses
Auditor
a person or firm, usu. An accountant or an accounting firm, that formally examines an individual's or entity's financial records or status.
Compliance audit
an audit conducted by a regulatory agency, an organization, or a third party to assess compliance with one or more sets of laws and regulations.
Correspondence audit
An irs audit of a taxpayer's return conducted by mail or telephone.
County auditor
an official who examines a county's accounts and financial records.
Desk audit
a review of a civil-service position to determine whether its duties and responsibilities fit the prescribed job classification and pay scale.
Field audit
an irs audit conducted at the taxpayer's business premises or lawyer's offices.
Independent audit
an audit conducted by an outside person or firm not connected with the person or organization being audited.
Internal audit
an audit performed by an organization's personnel to ensure that internal procedures, operations, and accounting practices are in proper order.
Nemo inauditus condemnari debet, si non sit contumax
No one ought to be condemned unheard, unless he is obstinate (in refusing to appear).
Non auditur perire volens
One who wishes to perish is not heard.
Office audit
an irs audit of a taxpayer's return conducted in the irs agent's office.
Post audit
an audit of funds spent on a completed capital project, the purpose being to assess the efficiency with which the funds were spent and to compare expected cash flow estimates with actual cash flows.
Qui aliquid statuerit parte inaudita altera, aequum licet dixerit, haud aequum fecerit
One who has decided anything without hearing the other party, even though he has said what is right, has done wrong.
Ratio non clauditur loco
Reason is not confined to any place.
Tax audit
the review of a taxpayer's return by the irs, including an examination of the taxpayer's books, vouchers, and records supporting the return. - also termed audit of return.
audit opinion
A certified public accountant's opinion regarding the audited financial statements of an entity.
county auditor
See AUDITOR,
desk audit
See AUDIT.
field audit
See AUDIT.
generally accepted auditing standards
The guidelines issued by the American Institute of Certified Public Accountants establishing an auditor's professional qualities and the criteria for the auditor's examination and required reports. - Abbr. GAAS. general manager See MANAGER.
inaudita altera parte
[Latin "without hearing the other party"] Ex pane. ( The term is sometimes used in decisions of the European Court of Justice. See Ex PARTS
independent audit
See AUDIT.
internal audit
See AUDIT.
office audit.
See AUDIT.
parte inaudita
. [Latin "one side being unheard"] Of or relating to action taken ex parte.
post audit
See AUDIT.
state auditor
The appointed or elected official responsible for overseeing state fiscal transactions and auditing state-agency accounts. See AUDIT.
tax audit
See AUDIT.