Source : Webster's Revised Unabridged Dictionary (1913)

Audit \Au"dit\, n. [L. auditus a hearing, fr. audire. See
   {Audible}, a.]
   1. An audience; a hearing. [Obs.]

            He appeals to a high audit.           --Milton.

   2. An examination in general; a judicial examination.

   Note: Specifically: An examination of an account or of
         accounts, with the hearing of the parties concerned, by
         proper officers, or persons appointed for that purpose,
         who compare the charges with the vouchers, examine
         witnesses, and state the result.

   3. The result of such an examination, or an account as
      adjusted by auditors; final account.

            Yet I can make my audit up.           --Shak.

   4. A general receptacle or receiver. [Obs.]

            It [a little brook] paid to its common audit no more
            than the revenues of a little cloud.  --Jer. Taylor.

   {Audit ale}, a kind of ale, brewed at the English
      universities, orig. for the day of audit.

   {Audit house}, {Audit room}, an appendage to a cathedral, for
      the transaction of its business.

Audit \Au"dit\, v. t. [imp. & p. p. {Audited}; p. pr. & vb. n.
   {Auditing}.]
   To examine and adjust, as an account or accounts; as, to
   audit the accounts of a treasure, or of parties who have a
   suit depending in court.

Audit \Au"dit\, v. i.
   To settle or adjust an account.

         Let Hocus audit; he knows how the money was disbursed.
                                                  --Arbuthnot.

Source : WordNet®

audit
     n 1: an inspection of the accounting procedures and records by a
          trained accountant or CPA [syn: {audited account}]
     2: a methodical examination or review of a condition or
        situation; "he made an audit of all the plants on his
        property"; "an energy efficiency audit"; "an email log
        audit"

audit
     v 1: of accounts and tax returns; with the intent to verify [syn:
           {scrutinize}, {scrutinise}, {inspect}]
     2: attend academic courses without getting credit