What should I include in my audit compliance checklist?

What should I include in my audit compliance checklist?

Your audit compliance checklist should include items like regulatory requirements, internal policies, risk assessments, and documentation procedures.

Can you give me a detailed example of a checklist item?

Sure! For regulatory requirements, you might include items like ensuring all financial statements are accurate and comply with GAAP.

How often should I update my checklist?

It's best to review and update your checklist at least annually or whenever there are significant changes in regulations or your business operations.

What are common mistakes to avoid in compliance audits?

Common mistakes include not involving all relevant departments, failing to document findings, and not following up on corrective actions.