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9 Key Types of Audits to Know About

Auditing and assurance helps the audit company to gain deeper insights into your operations

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9 Key Types of Audits to Know About

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  1. 9 KEY TYPES OF AUDITS TO KNOW ABOUT Auditing and assurance helps the audit company to gain deeper insights into your operations There are 9 key types of audits 01. Financial Audit A CPA examines financial statements to assess completeness and accuracy 02. Operational Audit It examines the company’s goals and if the operations are moving towards achieving the goal 03. Internal Audit An in-house team examines systems, processes, and performance 04. External Audit An unbiased third party team scrutinizes company’s financial health and its record keeping 05. Statutory Audit A compulsory audit that is needed by the law of the land 06. Compliance Audit It examines the functioning of the company’s internal policies and procedures and compliance with prescribed rules and laws 07. Forensic Audit A forensic accountant skilled in accounting and investigation carries out examines the company’s financial health to be used in court as evidence 08. Information System Audit Scrutiny of the company’s technology and IT infrastructure. It covers files and data 09. Sales Audit Assesses whether the sales practice in place is working and how it can be improved Expert members of our Assurance and Audit group are equipped to provide advice and consultation in diverse areas such as internal control reviews, financial statement audits, and fraud prevention and detection. strothman.com

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