Inspect valued gift on a regular basis (5)
I believe the answer is:
audit
'inspect' is the definition.
(synonyms)
'valued gift on a regular basis' is the wordplay.
'on a regular basis' means one should take alternating letters.
'valued'+'gift'='valuedgift'
The alternate letters of 'valuedgift' are 'AUDIT'.
(Other definitions for audit that I've seen before include "Financial review" , "HMRC inspection" , "Financial check" , "Examine accounts" , "special ale" .)