Audit
This involves a systematic examination and verification of a company's financial records, processes, and compliance to ensure accuracy, transparency, and regulatory adherence.
In any business, is there a need to conduct periodic audit?
Yes, as it is essential for maintaining trust, accountability, and financial health in business.
Is audit useful only if the issue involves financial matters?
No. Among others, audit can help businesses enhance competitiveness by extending the examination on the business processes and verification of adherence to standards or regulatory compliances.
How long does an audit take to complete?
The duration of an audit depends on variables like the size and complexity of the company, the type of audit being conducted, and the availability of necessary documentation, among others.
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"If you think that compliance is expensive, try non-compliance!"
Paul McNulty (former US Deputy Attorney General)
