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audit rights.See AUDIT PRIVILEGE.[Blacks Law 8th]

audit  response.A  letter  that  an  attorney  provides  to  a  client’s  financial  auditors,  usu.  at  the client’s  request,  re-garding  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.…

audit report.An outside auditor’s written statement, usu. accompanying a company’s financial statement, ex-pressing the auditor’s opinion of the accuracy  of the company’s financial condition as set forth in the financial statement.[Blacks Law 8th]

audit  privilege.In  an  intellectual-property  license  agreement,  the  right  of  the  licensor  to inspect the licensee’s books and records. — Also termed audit rights.[Blacks Law 8th]

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. county auditor.An official who examines a county’s accounts and financial records. state  auditor.The  appointed  or  elected  official  responsible  for  overseeing  state  fiscal transactions and auditing state-agency accounts. See  AUDIT. [Cases: States    76.…

audit of return.See tax audit under AUDIT.[Blacks Law 8th]

audit-letter response.See AUDIT RESPONSE.[Blacks Law 8th]

audit  letter.A  written  request  for  an  attorney,  banker,  or  someone  else  to  give  financial auditors information about a person or entity being audited, including information about pending or  threatened  litigation.  •  The  recipient  of  an  audit  letter  usu.  sends  the  response  (called  an audit-letter response) directly to the financial auditors. See AUDIT RESPONSE. [Cases: Attorney…

audit committee.See COMMITTEE.[Blacks Law 8th]

audita   querela   (aw-dI-t<<schwa>>   kw<<schwa>>-ree-l<<schwa>>).   [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. [Cases: Audita Querela    1. C.J.S. Audita Querela § 2.] “The writ of audita querela (= quarrel having been heard)…