Audit the books
Meaning
To conduct an official, systematic examination of a company's or individual's financial records to verify their accuracy and compliance with regulations.
Origin
The word 'audit' itself springs from the Latin 'audire,' meaning 'to hear.' In medieval Europe, when many people were illiterate and record-keeping was rudimentary, official examinations of accounts were often conducted orally. An auditor would literally 'hear' the accounts read aloud, cross-checking figures and transactions verbally with the bookkeepers. As commerce grew and written ledgers became standard, the role evolved, moving from a spoken verification to a meticulous, written inspection. The phrase 'audit the books' encapsulates this historical journey, reflecting the methodical process of scrutinizing financial records that began with listening and matured into today's comprehensive, documentary investigation.
Examples
- The new CEO immediately ordered a comprehensive audit the books to understand the company’s true financial health.
- Investigators began to audit the books after suspicions of embezzlement arose from the company's unusually low profits.