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Monitor > define

noun

  • Someone who supervises (an examination.
  • Someone who gives a warning so that a mistake can be avoided.
  • An ironclad vessel built by Federal forces to do battle with the Merrimac.
  • Display produced by a device that takes signals and displays them on a television screen or a computer monitor.
  • Electronic equipment that is used to check the quality or content of electronic transmissions.
  • A piece of electronic equipment that keeps track of the operation of a system continuously and warns of trouble.
  • Any of various large tropical carnivorous lizards of Africa and Asia and Australia; fabled to warn of crocodiles.

verb

  • Keep tabs on; keep an eye on; keep under surveillance.
    • usage: "we are monitoring the air quality"; "the police monitor the suspect's moves"
  • Check, track, or observe by means of a receiver. .
by WordNet 3.0 © 2006 by Princeton University
by Webster's Revised Unabridged Dictionary

Generally, is to keep tabs on; keep an eye on; or, keep under surveillance. In business, it is a person or firm appointed to review and report on, without controlling or approving, the day-to-day transactions of a business. Particulars of the engagement are usually set out in an exchange of letters, an agreement or court order.