Revered person lazy in audition (4)
I believe the answer is:
idol
'revered person' is the definition.
(I've seen this before)
'lazy in audition' is the wordplay.
'lazy' becomes 'idle' (similar in meaning).
'in audition' indicates a 'sounds like' (homophone) clue (audition can mean hearing).
'idle' sounds like 'IDOL'.
(Other definitions for idol that I've seen before include "Graven image or greatly admired person" , "Object of excessive adoration" , "Pagan symbol" , "Graven image (sometimes false?)" , "Film star" .)