What are the key requirements for an audit?

What are the key requirements for an audit?

The key requirements for an audit typically include having a clear scope, access to relevant documents, and compliance with applicable standards.

Can you explain what compliance standards are?

Compliance standards are guidelines that organizations must follow to ensure they meet legal and regulatory requirements during an audit.

What documents do I need to prepare for an audit?

You should prepare financial statements, internal control documentation, and any relevant contracts or agreements.

How often should audits be conducted?

Audits should be conducted annually, but the frequency can vary based on regulatory requirements and organizational needs.